Joseph Stringer, an analyst from Needham, maintained the Buy rating on Alnylam Pharma (ALNY – Research Report). The associated price target remains the same with $320.00.
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Joseph Stringer has given his Buy rating due to a combination of factors that highlight Alnylam Pharma’s promising pipeline and strategic advancements. The company recently hosted an R&D day where they showcased significant developments in their pipeline, particularly in the areas of ATTR-Amyloidosis, Cardiovascular, and Neuroscience. A key factor influencing the Buy rating is the unveiling of the Phase 3 trial design for nucresiran, which targets ATTR-Cardiomyopathy, indicating potential for future growth in this area.
Additionally, the disclosure of the Phase 3 trial design for zilebesiran, in partnership with Roche, for Hypertension, further strengthens Alnylam’s position in the market. Updated clinical data from mivelsiran in early-onset Alzheimer’s Disease and discussions on the ALN-HTT02 program for Huntington’s Disease also contribute to a positive outlook. These developments suggest a robust pipeline that could lead to significant advancements and market opportunities, justifying the Buy rating.
According to TipRanks, Stringer is an analyst with an average return of -2.1% and a 36.59% success rate. Stringer covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Vertex Pharmaceuticals, and Stoke Therapeutics.