Alnylam price target raised to $248 from $160 at JPMorgan

JPMorgan analyst Jessica Fye raised the firm’s price target on Alnylam to $248 from $160 and keeps a Neutral rating on the shares. The analyst cites the “highly positive” HELIOS-B topline results for Amvuttra in ATTR-CM for the target increase. The firm sees strength in the topline data with both the overall and monotherapy populations hitting on the primary endpoint in addition to statistically significant improvements across all key secondary endpoints in both populations, including a “highly meaningful” mid-30%s reduction in overall mortality. It now models $4.4B in 2033 worldwide sales for Alnylam’s TTR silencer franchise in cardiomyopathy and $5.5B overall.