Bank of America Securities analyst Tazeen Ahmad maintained a Buy rating on Alnylam Pharma (ALNY – Research Report) yesterday and set a price target of $302.00.
Tazeen Ahmad has given his Buy rating due to a combination of factors that highlight Alnylam Pharma’s promising growth prospects. The company is focusing on its ATTR, cardiovascular, and neuroscience franchises, which are expected to drive growth in the near to mid-term. The upcoming PDUFA for vutrisiran in ATTR-CM is a significant milestone, and management is optimistic about its potential to become the first-line standard of care in this area.
Additionally, the potential of nucresiran as a long-term value driver is noteworthy, with its phase 3 TRITON-CM trial expected to begin soon. The trial aims to enroll a large number of patients and could lead to a launch by 2030. Furthermore, the positive initial data from the KARDIA-3 trial for zilebesiran in high cardiovascular-risk hypertension and the promising results from the neuroscience franchise, particularly with mivelsiran, add to the confidence in the company’s future performance. These factors collectively support the Buy rating with a price objective of $302.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ALNY in relation to earlier this year.