Canaccord raised the firm’s price target on Alnylam (ALNY) to $390 from $385 and keeps a Buy rating on the shares. The firm noted they announced FDA approval of Amvuttra for the treatment of ATTR-CM. The label is a best-case with the indication statement saying Amvuttra “reduce(s) cardiovascular mortality, cardiovascular hospitalizations, and urgent heart failure visits.” Canaccord thinks its uptake assumptions were conservative to begin with, and thinks they are even more conservative now after moderating its uptake assumptions.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALNY:
- Positive Outlook for Alnylam Pharma Following FDA Approval of Amvuttra for TTR-CM
- Alnylam price target raised to $351 from $338 at Citi
- Alnylam Pharma’s Strategic Positioning and Market Potential Boosted by Early FDA Approval of Amvuttra
- Alnylam price target raised to $287 from $275 at Wells Fargo
- Cautious Outlook on Alnylam Pharma Amid Amvuttra’s FDA Approval and Pricing Concerns