H.C. Wainwright analyst Patrick Trucchio recommends buying shares of Alnylam Pharmaceuticals on weakness tied to concerns about Onpattro in transthyretin-mediated amyloidosis. The shares declined 9% since September 11, the day before the start of the FDA panel vote, the analyst tells investors in a research note. The firm expects Onpattro to have its label expanded to include treatment of ATTR-CM based on the affirmative vote as well as a “consistent, positive, and widening clinical effect over time, plus a demonstrated strong safety profile.” It expects a robust launch and reiterates a Buy rating on Alnylam with a $405 price target.
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