Citi opens ‘positive catalyst watch’ on Alnylam into FDA panel

Citi analyst David Lebowitz opened a “90-day positive catalyst watch” on shares of Alnylam Pharmaceuticals while keeping a Buy rating on the shares with a $266 price target. Onpattro in cardiomyopathy of transthyretinamyloidosis is set to be reviewed by an FDA advisory committee on September 13 with an action date of October 8, the analyst tells investors in a research note. The firm believes the panel will vote in favor of Onpattro’s ATTR-CM label-expansion given clinical meaningfulness of the Phase 3 APOLLO-B data, with an FDA approval to follow in October. This creates a positive risk/reward profile for Alnylam shares, says Citi.