Rodman & Renshaw Meets with Alnylam Pharma CEO, Maintains Market Outperform
Rodman & Renshaw has published a research report on Alnylam Pharmaceuticals (NASDAQ: ALNY) after meeting with the company's CEO, John Maraganore, Ph.D.
In the report, Rodman & Renshaw writes, "According to Maraganore, he has never been as excited as he is now regarding the future outlook for the company. While it is also expected that CEOs are the “Cheerleaders in Chief” for their companies, in the case of ALNY, this excitement is well-founded, in our view. Specifically, this enthusiasm is based on the progress the company has made in transitioning Nobel-prize winning science into clinical development programs with real therapeutic potential for a number of indications. When we asked what the key catalyst was for his increased optimism, Maraganore responded that it was the breakthrough the company made last year when it realized that an impressive 99% of whatever RNAi constructs targeted to the liver were getting to the liver. That rate has now increased to 100%. Maraganore is also well aware that, irrespective of the gains in technology, the key driver of share value will be clinical data."
Rodman & Renshaw maintains its Market Outperform rating and $12 price target on Alnylam Pharmaceuticals, which is currently trading down $0.16 from yesterday's $7.10 closing price.
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