Alnylam Pharma (ALNY) Gets a Buy Rating from Cantor Fitzgerald

By Carrie Williams

Cantor Fitzgerald analyst Alethia Young reiterated a Buy rating on Alnylam Pharma (ALNYResearch Report) today and set a price target of $135. The company’s shares closed yesterday at $79.73.

Young commented:

“. We reiterate our Overweight rating and 12-mo. $135 PT. Alnylam hosted an R&D day Thursday, where pipeline updates and long-term strategy were largely in line with our recently published expectations here. With three Ph3 readouts and two potential NDA filings in 2019 alone, we think ALNY is well on its way to establishing itself as a diversified global commercial biotech company, if pipeline execution continues. We see many late and mid-stage readouts over the next 12 months that will help ALNY build more commercial and mid/late- stage products (see p. 2). ALNY will preannounce 4Q18 Onpattro sales in early Jan. 2019.”

According to TipRanks.com, Young is a 4-star analyst with an average return of 5.0% and a 46.8% success rate. Young covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Puma Biotechnology, and Intercept Pharma.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Alnylam Pharma with a $135.92 average price target.

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Based on Alnylam Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $245 million. In comparison, last year the company had a GAAP net loss of $123 million.

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Alnylam Pharmaceuticals, Inc. is a biopharmaceutical company, which engages in the discovery, development and commercialization of RNAi therapeutics. It is the translation of RNAi as a new class of innovative medicines with a core focus on RNAi therapeutics for the treatment of genetically defined diseases.