Alnylam Pharma’s Amvuttra Gains FDA Approval, Positioned as Leading siRNA Treatment for ATTR-CM

William Blair analyst Myles Minter has reiterated their bullish stance on ALNY stock, giving a Buy rating today.

Myles Minter has given his Buy rating due to a combination of factors surrounding Alnylam Pharma’s recent FDA approval for Amvuttra in treating ATTR-cardiomyopathy (ATTR-CM). This approval marks a significant milestone as Amvuttra becomes the first siRNA treatment to enter the ATTR-CM market, joining existing TTR stabilizers. The favorable label outcome is seen as a positive indicator for Alnylam’s commercial positioning and reimbursement potential, suggesting that ATTR-CM could become a blockbuster indication for the company.
Minter highlights that the label for Amvuttra includes crucial data on reducing cardiovascular mortality and hospitalizations, setting it apart from competitors. The inclusion of hazard ratio data for all-cause mortality from the HELIOS-B trial further strengthens Amvuttra’s position as a leading treatment option. Additionally, subgroup analyses indicate that Amvuttra is effective across various patient demographics, including younger and healthier populations, making it a strong candidate for first-line treatment. These factors collectively support Minter’s optimistic outlook and Buy rating for Alnylam Pharma.

In another report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $390.00 price target.