Raymond James last night initiated coverage of Alnylam Pharmaceuticals with an Outperform rating and $208 price target. Alnylam is a leader in siRNA technology that has been validated with several commercial products, and has a “very robust” pipeline across both rare diseases and much larger markets, the analyst tells investors in a research note. The firm says the risk/reward into the Vutrisiran HELIOS-B outcomes data in the first half of 2024 should be favorable overall given the validation of the mechanism as well as larger size and longer duration of the study.
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