Leerink Partners analyst Mani Foroohar has maintained their neutral stance on ALNY stock, giving a Hold rating yesterday.
Mani Foroohar has given his Hold rating due to a combination of factors related to the recent FDA approval of Alnylam Pharma’s drug, Qfitlia, for hemophilia patients. The approval comes with a label that includes a boxed warning for potential thrombotic events and gallbladder disease, which could hinder its adoption in a market already saturated with effective treatments.
Additionally, although the drug shows significant efficacy in reducing annualized bleeding rates, the need for regular liver toxicity monitoring and the competitive landscape suggest that Qfitlia may only capture a niche market. Despite increasing the probability of success for the program, the market penetration is expected to be limited, leading to the decision to maintain the price target and reiterate the Hold rating.
In another report released yesterday, Morgan Stanley also maintained a Hold rating on the stock with a $284.00 price target.
Based on the recent corporate insider activity of 75 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.