Alnylam price target lowered to $235 from $270 at RBC Capital

RBC Capital lowered the firm’s price target on Alnylam to $235 from $270 but keeps an Outperform rating on the shares. The FDA’s CRL decision on Onpattro TTR-CM remains difficult to fully rationalize given that the drug is safe and the primary endpoint was hit as the AdCom voted 9-3 in favor of approval and patients have only one therapeutic option today, the analyst tells investors in a research note. The firm adds that it remains positive on the stock and believes that HELIOS-B is poised to address many of the outstanding questions that the FDA has and given that 93% of cardiologists polled think success is likely or somewhat likely.