Analysts Put Alnylam On Upside Catalyst Watch Ahead Of Upcoming Data From Lead Program

  • RBC Capital Markets raised the price target on Alnylam Pharmaceuticals Inc ALNY from $225 to $250.
  • The analyst says that the company is confident that the recent APOLLO-B validates the therapeutic hypothesis. 
  • Subgroup analysis at the Heart Failure Society of America (HFSA) next week will be limited by a small number, but ALNY sees an approvable drug.
  • Related: Alnylam Shares Detailed Patisiran Data From Rare Disease Study.
  • The base business continues to perform, and POC for Alzheimer's and gout is later this year. 
  • RBC remains a buyer, noting one of the few commercially validated platforms in Biotech and prior transactions in the space.
  • Citi analyst says APOLLO-B data reported thus far suggests Onpattro is approvable for ATTR-CM and could potentially improve upon Pfizer Inc's PFE tafamidis for cardiac outcomes.
  • Most importantly, data at HFSA might offer a glimpse into the potential of Onpattro's follow-up, Amvuttra, which has quarterly (potentially biannual) dosing and is likely to drive Alnylam's ATTR franchise. 
  • Earlier today, the European Commission approved Amvuttra (vutrisiran) for hereditary transthyretin-mediated (hATTR) amyloidosis in adult patients with stage 1 or stage 2 polyneuropathy.
  • Price Action: ALNY shares are down 2.32% at $210.98 on the last check Tuesday.
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