Analyst Patrick Trucchio from H.C. Wainwright reiterated a Buy rating on Alnylam Pharma (ALNY – Research Report) and keeping the price target at $500.00.
Patrick Trucchio has given his Buy rating due to a combination of factors, primarily focusing on Alnylam Pharma’s strategic positioning and financial prospects. The approval of AMVUTTRA for ATTR amyloidosis with cardiomyopathy is seen as a significant financial milestone, expected to drive near-term revenue growth and support sustainable non-GAAP profitability by 2025. This aligns with Alnylam’s long-term objectives and the company’s revenue guidance, which remains consistent with market expectations.
Moreover, the company’s investment in research and development, as well as its commercial infrastructure, highlights its commitment to long-term scalability. The pricing strategy for AMVUTTRA, despite being higher than competitors, is supported by strong Phase 3 data and its unique reimbursement positioning under Medicare Part B. This positioning is advantageous as it reduces utilization management friction and could accelerate adoption, particularly given the strategic implications of being a Part B drug compared to competitors under Part D.
In another report released on March 31, Piper Sandler also reiterated a Buy rating on the stock with a $304.00 price target.