Alnylam price target raised to $265 from $250 at RBC Capital

RBC Capital analyst Luca Issi raised the firm’s price target on Alnylam to $265 from $250 and keeps an Outperform rating on the shares after meeting with its management team for a non-deal roadshow. The company is confident that Amvuttra is the new first-line therapy for amyloidosis with cardiomyopathy, or ATTR-CM, given the “unprecedented” 36% reduction in mortality, with stats hitting across all 5 primary/secondary endpoints and given the “clear additive effect” as combo with Tafamidis, the analyst tells investors in a research note. Filing within the next 3-4 months is the plan and approval in early 2025 is possible, the firm added.