Rodman & Renshaw Maintains Outperform, $12 PT on Alnylam

Rodman & Renshaw reiterates its Outperform rating and $12 price target on Alnylam Pharmaceuticals

as the company provided guidance on key goals for its RNAi therapeutics pipeline and outlined additional strategic objectives for 2012. Rodman & Renshaw notes, "ALNY announced its “5X15” product strategic goals, its aims to advance additional pipeline programs with existing alliances and new partnerships and provided guidance for additional business goals it hopes to accomplish in 2012. ...ALNY also stated it has increased guidance to end 2011 with approximately $260mm in cash. This figure is in-line with the company's 3Q11 earnings statements described in our November 1, 2011 ALNY 3Q11 earnings report, where the company stated it expected to end 2011 with more than $250mm in cash." ALNY closed at $8.89 per share on Monday.