William Blair analyst Myles Minter has reiterated their bullish stance on ALNY stock, giving a Buy rating yesterday.
Myles Minter has given his Buy rating due to a combination of factors that highlight Alnylam Pharma’s strategic positioning and growth potential. The company’s focus on advancing its next-generation TTR lowering agent, nucresiran, for ATTR amyloidosis with cardiomyopathy (ATTR-CM) and hereditary ATTR amyloidosis with polyneuropathy (hATTR-PN) is a significant driver. The decision to conduct a Phase III cardiovascular outcomes study for nucresiran reflects a long-term vision to establish a durable TTR franchise, aiming for market leadership into the 2040s.
Minter also notes the promising results from the HELIOS-B study, which demonstrated efficacy in patients using background stabilizers. The superior knockdown efficacy of nucresiran compared to Amvuttra, coupled with modeling data suggesting improved patient outcomes, positions the study for potential success. Despite some uncertainties regarding the study’s duration, the strategic approach and robust pipeline updates in areas like CNS indications, metabolic, and bleeding disorders reinforce the Buy recommendation.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $500.00 price target.
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.
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