UPDATE: Rodman & Redshaw Reiterates Outperform on Alynlam Pharmaceuticals; $22 PT

Rodman & Renshaw maintained an Outperform rating on Alynlan Pharmaceuticals

and a $22 price target. Rodman & Renshaw commented, “We view today's news as yet another example in which management has monetized its RNAi platform to produce value for shareholders. In our initiation from October 2011, we highlighted that the robustness of the ALNY RNAi platform provided multiple ways for the company to drive value beyond just the five unpartnered clinical programs of its 5x15 strategy. Today's announcement, which was not previously included in our models, stands alongside the company's other partnered programs (e.g., ALN-RSV and ALN-VSP), as well as ALNY's 45% stake in Regulus as potential drivers of value for shareholders.” Alynlam Pharmaceuticals closed at $19.11 on Monday.