Morgan Stanley lowered the firm’s price target on Alnylam to $175 from $210 and keeps an Equal Weight rating on the shares. The firm notes that despite a favorable Adcom, the Food and Drug Administration issued a complete response for Onpattro in ATTR-CM. Further, the company’s management announced a decision to discontinue further development in this indication, though it remains confident in HELIOS-B data for Amvuttra in early 2024. Morgan Stanley has updated its model based on discontinued development of Onpattro in ATTR-CM.
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