Citi lowered the firm’s price target on Alnylam Pharmaceuticals to $233 from $266 and keeps a Buy rating on the shares after Onpattro received a complete response letter for ATTR-CM. Though the CRL is disappointing, the impact to shares “should be fleeting” as attention turns towards follow-on drug Amvuttra, the analyst tells investors in a research note. Citi believes the FDA’s decision has little to no readthrough for Amvuttra’s HELIOS-B readout in the first half of 2024.
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Read More on ALNY:
- Alnylam price target lowered to $175 from $210 at Morgan Stanley
- Alnylam announces FDA issues CRL for patisiran sNDA
- FDA PDUFA Date for Alnylam Patisiran (Onpattro) is October 8, 2023
- Alnylam initiated with Outperform on ‘robust’ pipeline at Raymond James
- Alnylam initiated with an Outperform at Raymond James