Bernstein analyst William Pickering lowered the firm’s price target on Alnylam (ALNY) to $310 from $314 and keeps an Outperform rating on the shares. Biotech more or less threaded water last year, underperforming both Pharma and the S&P for the 4th year running, with rates and Trump/RFK policy uncertainty the key drivers, the firm says. The market is pricing in limited improvement in the rate outlook this year, a view Bernstein does not dispute.
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