Needham analyst Joseph Stringer maintained a Buy rating on Alnylam Pharma (ALNY – Research Report) today and set a price target of $320.00.
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Joseph Stringer has given his Buy rating due to a combination of factors contributing to Alnylam Pharma’s promising outlook. The company has reported strong total product sales for the fourth quarter of 2024, aligning with prior expectations, and maintains a confident sales forecast for 2025, including the anticipated launch of Amvuttra in the ATTR-CM market. Additionally, Alnylam’s guidance for operating expenses in 2025 is notably lower than consensus estimates, suggesting potential for Non-GAAP profitability within the year.
Furthermore, Joseph Stringer sees key value drivers in Alnylam’s near-term future, such as the upcoming launch of Amvuttra, the progression of their next-generation TTR therapy, nucresiran, into Phase 3 trials, and mid-to-late 2025 results from zilebesiran’s Phase 2 trials in Hypertension. These strategic developments underpin his optimistic view of the company’s growth trajectory and support his Buy rating.
In another report released on February 11, RBC Capital also maintained a Buy rating on the stock with a $300.00 price target.