FBR Capital Reiterates a Buy Rating on Alnylam Pharma

By Austin Angelo

In a report released today, Christopher James from FBR Capital reiterated a Buy rating on Alnylam Pharma (NASDAQ: ALNY), with a price target of $100. The company’s shares opened today at $31.41, close to its 52-week low of $31.38.

James said:

“Yesterday, November 2, after the markets closed, ALNY hosted its 3Q16 earnings call to review its financials and provide clinical pipeline updates. We provide four key takeaways from the earnings call as our focus remains on patisiran, fitusiran, ALN- CC5, and ALN-TTRsc02: (1) patisiran remains on track to report top-line data from the Phase III APOLLO study in mid-2017; (2) fitusiran achieved a median annualized bleeding rate (ABR) of zero in hemophilia patients without inhibitors and remains on track to start Phase III studies in early 2017; (3) we look forward to additional combination data with ALN-CC5 in PNH patients at ASH and during ALNY’s R&D Day; we are positive on ALN-CC5’s potential in eculizumab sparing and poor responder regimens; and (4) initial results from the Phase I study of ALN-TTRsc02 in healthy volunteers presented at the R&D Day may provide greater insight into the path forward in ATTR amyloidosis. By year-end 2016, we look forward to a rich data set from five clinical programs.”

According to TipRanks.com, James is ranked 0 out of 5 stars with an average return of -25.2% and a 19.6% success rate. James covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, Inc., Aviragen Therapeutics, Inc., and Achillion Pharmaceuticals.

Currently, the analyst consensus on Alnylam Pharma is Moderate Buy and the average price target is $65.25, representing a 107.7% upside.

In a report issued on October 24, Piper Jaffray also reiterated a Buy rating on the stock with a $106 price target.

The company has a one year high of $110.75 and a one year low of $31.38. Currently, Alnylam Pharma has an average volume of 1.22M.

Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ALNY in relation to earlier this year. Last month, John Maraganore, the CEO of ALNY bought 7,540 shares for a total of $99,994.

Alnylam Pharmaceuticals, Inc. is a biopharmaceutical company, which 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. The company was founded by John Kennedy Clarke, Paul R. Schimmel and Phillip A. Sharp on June 14, 2002 and is headquartered in Cambridge, MA.

  • Ken shane

    Why mention a 0 tip rank???

    • George MacDonald

      Thanks for the note Ken!

      The 0-star ranking by TipRanks means that the analyst’s stock ratings have underperformed (the average return per rating of this analyst is negative, and he currently has a low percentage of the chance to issue a successful rating).

      TipRanks provide their ranking for analysts based on their past performance on a 1-5 stars’ scale.