Cantor Fitzgerald Keeps Their Buy Rating on Alnylam Pharma (ALNY)

By Carrie Williams

In a report released today, Alethia Young from Cantor Fitzgerald reiterated a Buy rating on Alnylam Pharma (ALNYResearch Report), with a price target of $135. The company’s shares closed yesterday at $90.17.

Young observed:

“: We reiterate our Overweight rating and $135 price target. Our small/mid-cap analyst Ellie Merle today launched coverage of Ionis (IONS, N). Ionis developed Onpattro competitor Tegsedi, which is now licensed to and commercialized by Akcea (AKCA, NC). We agree that Onpattro has taken meaningful share and that near-term competition from Tegsedi will likely be limited. Here we note relevant key takes from her launch and our perspective on the TTR market. We think that the overall TTR market opportunity is large, but that increasing diagnosis and treatment rates will take time.”

According to TipRanks.com, Young is a 5-star analyst with an average return of 9.0% and a 53.0% success rate. Young covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Vertex Pharmaceuticals, and Sarepta Therapeutics.

Currently, the analyst consensus on Alnylam Pharma is a Strong Buy with an average price target of $128.70, a 42.7% upside from current levels. In a report released yesterday, BMO Capital also maintained a Buy rating on the stock with a $119 price target.

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Based on Alnylam Pharma’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $211 million. In comparison, last year the company had a GAAP net loss of $141 million.

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Alnylam Pharmaceuticals, Inc. operates as 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.