Analyst Joseph Stringer of Needham maintained a Buy rating on Alnylam Pharma (ALNY – Research Report), retaining the price target of $320.00.
Joseph Stringer has given his Buy rating due to a combination of factors surrounding Alnylam Pharma’s recent developments. The FDA’s early approval of Amvuttra for ATTR-Cardiomyopathy, ahead of the expected PDUFA date, is a significant milestone that enhances the company’s market position. The drug’s label, which includes comprehensive data on mortality and cardiovascular events, supports its efficacy and potential in the market.
Alnylam’s strategic decision to maintain the current wholesale acquisition cost of Amvuttra, despite its premium pricing compared to competitors, reflects confidence in its market potential. The company’s plan to adjust net pricing as patient uptake increases suggests a focus on long-term growth in the ATTR-CM indication. Furthermore, Alnylam’s reaffirmation of its ATTR revenue guidance aligns with the analyst’s estimates, reinforcing the positive outlook for the company’s financial performance.
According to TipRanks, Stringer is an analyst with an average return of -2.8% and a 35.70% success rate. Stringer covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Lexicon Pharmaceuticals, and Rhythm Pharmaceuticals.
In another report released today, Barclays also maintained a Buy rating on the stock with a $329.00 price target.
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