Rodman & Renshaw Maintains Market Outperform on Alnylam Pharma

Rodman & Renshaw has published a research report on Alnylam Pharmaceuticals

after the company presented positive Phase I data for ALN-TTR01. In the report, Rodman & Renshaw writes, "All of the five patients receiving the drug at this concentration showed lowering of serum TTR protein levels that ranged from 25% to 81%. One patient in this group showed a 63% lowering of TTR serum levels at 48 hours and a peak suppression of 81% at 7 days. Further, there was an approximate 50% lowering of serum TTR protein levels at 28 days post dose in this patient, demonstrating the durability of a single ALN-TTR01 dose. Importantly, ALN-TTR01 RNAi appeared very well-tolerated and there were no serious adverse events (SAEs) related to study drug administration (please see Table 1 on page 2). Further, there were no drug-related discontinuations from the study and there were no significant increased in liver function tests (

) parameters." Rodman & Renshaw maintains its Market Outperform rating and $12 price target on Alnylam Pharmaceuticals, which is currently trading up $0.05 from Friday's $7.21 closing price.