Alnylam Pharmaceuticals (NASDAQ:ALNY) soared in pre-market trading after the company announced positive topline results for vutrisiran, a drug that can be used to treat a progressive and deadly form of heart disease—ATTR amyloidosis with cardiomyopathy (ATTR-CM).
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Details of the Clinical Study of Vutrisiran
The Phase-3 study of vutrisiran met the primary endpoint and achieved a reduction of 28% and 33% in death and recurrent cardiovascular events, respectively, in the overall and monotherapy populations. The monotherapy population consisted of patients who were not taking Pfizer’s (NYSE:PFE) tafamidis.
The study included 655 adults who took either vutrisiran or a placebo once every three months for three years. Alnylam stated that its drug showed “encouraging” safety and tolerability, and the company intends to file for regulatory approval later this year.
Is ALNY Stock a Good Buy?
Analysts remain cautiously optimistic about ALNY stock, with a Moderate Buy consensus rating based on 12 Buys and five Holds. Over the past year, ALNY has declined by more than 10%, and the average ALNY price target of $225.69 implies an upside potential of 36.2% from current levels.
