Market Overview

UPDATE: Morgan Stanley Downgrades Alnylam Pharmaceuticals, Sees Robust Drug Prospects

Share:

In a report published Tuesday, Morgan Stanley analyst David Friedman downgraded Alnylam Pharmaceuticals (NASDAQ: ALNY) from Overweight to Equal-weight and raised its price target to $72.00 from $54.00.

According to the report, the move was based on a more balanced risk/reward post recent stock strength.

“We view Alnylam's technology as potentially transformative and see the prospects for the drugs that have been tested in humans as robust,” the report noted. “In addition, we view the recent Sanofi/Sirna transactions as steps that likely will help maximize the platform from many perspectives. However, in light of the recent stock strength over the past 12 mos, we see a more balanced risk/reward for shares heading into the major TTR program data catalysts in 2H14. Above- expectations TTR data in 2H14 or human proof of concept from an earlier-stage program (e.g. hemophilia) are events that would trigger a valuation re-evaluation.”

ALNY closed Monday at $93.28 with shares trading up at 40.89 percent.

Latest Ratings for ALNY

DateFirmActionFromTo
Nov 2020Morgan StanleyMaintainsOverweight
Nov 2020SVB LeerinkMaintainsMarket Perform
Nov 2020SVB LeerinkMaintainsMarket Perform

View More Analyst Ratings for ALNY
View the Latest Analyst Ratings

 

Related Articles (ALNY)

View Comments and Join the Discussion!

Posted-In: David Friedman Morgan StanleyAnalyst Color Downgrades Analyst Ratings

Latest Ratings

StockFirmActionPT
TSLAJP MorganMaintains125.0
INTCTruist SecuritiesMaintains64.0
FBTruist SecuritiesMaintains320.0
GSCitigroupMaintains370.0
AAPLCowen & Co.Maintains153.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com