Alnylam Pharma, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Ritu Baral from TD Cowen maintained a Buy rating on the stock and has a $482.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Ritu Baral has given her Buy rating due to a combination of factors including Alnylam Pharma’s strong financial performance and strategic growth initiatives. The company reported impressive third-quarter results, with Amvuttra sales significantly surpassing expectations and contributing to the first profitable quarter for Alnylam. The robust sales figures led to a raised revenue guidance for their TTR products, indicating strong market demand and effective execution of their business strategy.
Moreover, Alnylam’s financial health is underscored by their substantial cash reserves and the achievement of GAAP profitability earlier than anticipated. The company’s forward-looking plans, such as the upcoming Phase 1 data for HTT02 and the initiation of the Phase 3 TRITON-PN study, further bolster confidence in its long-term growth potential. These elements collectively support Ritu Baral’s optimistic outlook and Buy rating for Alnylam Pharma’s stock.
In another report released yesterday, Jefferies also maintained a Buy rating on the stock with a $549.00 price target.
Based on the recent corporate insider activity of 98 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ALNY in relation to earlier this year.