Bernstein analyst William Pickering lowered the firm’s price target on Alnylam (ALNY) to $233 from $247 and keeps an Outperform rating on the shares. Alnylam announced this week that it has partnered with Roche (RHHBY) to co-develop and co-commercialize zilebesiran, its RNAi therapeutic for hypertension. The firm does not love the deal. While it enables Alnylam to run a robust development program at reasonable cost, Bernstein is not sure why now was the right time to do this deal and why Roche is the right partner. In addition, the financial consideration seems low for a drug with over $5B in peak sales potential, it adds.
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Read More on ALNY:
- Alnylam price target lowered to $405 from $415 at H.C. Wainwright
- Alnylam enters pact with Roche to develop, commercialize zilebesiran
- Alnylam announces publication of Zilebesiran results in NEJM
- BridgeBio data in ATTR-CM ‘bodes well’ for Alnylam, says BofA
- BridgeBio data positive for Alnylam and Ionis, says Citi
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