In a report released today, Patrick Trucchio from H.C. Wainwright reiterated a Buy rating on Alnylam Pharma (ALNY – Research Report), with a price target of $500.00.
Patrick Trucchio has given his Buy rating due to a combination of factors that highlight Alnylam Pharma’s promising future. The recent FDA approval of AMVUTTRA for ATTR amyloidosis with cardiomyopathy (ATTR-CM) is a significant milestone, setting the stage for Alnylam’s long-term growth. The drug’s compelling survival and hospitalization data from the Phase 3 HELIOS-B program, along with its clean label and established commercial organization, suggest it will rapidly become a key player in the treatment of cardiomyopathy.
Furthermore, AMVUTTRA’s approval as the first RNA interference therapeutic to reduce cardiovascular mortality and hospitalizations underscores its potential to redefine the standard of care in ATTR-CM. With a rapid onset and quarterly subcutaneous administration, the drug has demonstrated significant improvements in mortality, hospitalizations, and quality of life, particularly in milder patients. This positions Alnylam to lead the ATTR market well into the 2040s, supported by the upcoming launch of nucresiran, a next-generation RNAi therapy. These factors collectively support the Buy rating and the $500 price target set by Trucchio.
Trucchio covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Altimmune, and Beam Therapeutics. According to TipRanks, Trucchio has an average return of -3.3% and a 30.10% success rate on recommended stocks.
In another report released today, Barclays also maintained a Buy rating on the stock with a $329.00 price target.