Alnylam price target lowered to $234 from $250 at BMO Capital

BMO Capital lowered the firm’s price target on Alnylam to $234 from $250 but keeps an Outperform rating on the shares. Despite the AdCom’s favorable view on Onpattro’s benefit/risk, the FDA issued a CRL for Onpattro in ATTR-CM citing insufficient evidence of clinical meaningfullness, the analyst tells investors in a research note. While Onpattro’s CRL doesn’t impact Helios-B probability of success, it negatively impacts investor sentiment and raises concerns around the ambiguity of FDA’s perception on “sizable clinical effect” in ATTR-CM, the firm added. BMO states that it remains positive on Helios-B 36-month outcome in expected in the first half of 2024.