B of A Securities Raises Alnylam Pharmaceuticals' Price Target to $359

Alnylam Pharmaceuticals (ALNY) has seen its price target raised by B of A Securities to $359, a 6.85% increase from the previous target. The brokerage firm maintains its 'Buy' rating for the company, indicating confidence in its future prospects. The average one-year price target for ALNY is $330.48, with a high estimate of $500.00 and a low estimate of $212.00. The average brokerage recommendation is 2.1, indicating an "Outperform" status.

Alnylam Pharmaceuticals (ALNY) has seen its price target raised by B of A Securities to $359, a 6.85% increase from the previous target. The brokerage firm maintains its 'Buy' rating for the company, indicating confidence in its future prospects. The average one-year price target for ALNY is $330.48, with a high estimate of $500.00 and a low estimate of $212.00. The average brokerage recommendation is 2.1, indicating an "Outperform" status [1].

Alnylam Pharmaceuticals is a key player in the RNA interference (RNAi) therapeutics industry, with a focus on treating rare diseases such as transthyretin-mediated amyloidosis (ATTR). The company's recent approval of its drug Amvuttra for ATTR cardiomyopathy (ATTR-CM) has positioned it for significant growth in a rapidly expanding market [3].

The approval of Amvuttra came with a broad label that includes language about reducing cardiovascular mortality and urgent heart failure visits, setting it apart from competitors’ products. This differentiation could provide Alnylam with a competitive edge in the ATTR-CM market. Analysts are optimistic about Amvuttra’s potential, projecting sales could reach approximately $6.9 billion by 2035 [3].

Alnylam’s financial performance has been strong, with the company reporting better-than-expected results for the fourth quarter of 2024. Net product revenues reached $452 million, 3% ahead of consensus estimates, with TTR sales at $343 million, 6% above expectations. Looking ahead, management has provided robust guidance for 2025. Total product revenue is projected between $2,050 million and $2,250 million, in line with consensus estimates at the midpoint [3].

Alnylam boasts a robust pipeline with several promising candidates. The company plans to initiate Phase III trials for Nucresiran in ATTR-CM, which could potentially offer a best-in-class profile with a launch around 2030. Additionally, Alnylam is advancing programs in central nervous system (CNS) and cardiometabolic diseases. Phase II data for Zilebesiran in high cardiovascular risk patients and Phase I data for Mivelsiran in Alzheimer’s Disease are expected in 2025, potentially opening new avenues for growth [3].

The ATTR-CM market is experiencing rapid growth, with analysts estimating its current value at over $6 billion. Importantly, approximately 90% of patients are yet to be on therapy, indicating significant room for expansion. This untapped potential has attracted several players to the field. Alnylam faces competition from established treatments such as Pfizer (NYSE:PFE)’s tafamidis and the recently launched Attruby from BridgeBio Pharma (NASDAQ:BBIO). However, Amvuttra’s unique positioning as a silencer therapy and its broader label could help it capture a substantial market share [3].

While the company has indicated willingness to explore options such as rebates or value-based agreements to maintain market share, significant price concessions could impact revenue projections and profitability. The ATTR-CM market is becoming increasingly crowded, with established players like Pfizer’s tafamidis and newer entrants such as BridgeBio’s Attruby. As these competitors gain traction and potentially expand their labels, Alnylam may face challenges in capturing and maintaining market share [3].

In conclusion, Alnylam Pharmaceuticals (ALNY) has received a positive outlook from B of A Securities, with a raised price target and a maintained 'Buy' rating. The company's strong financial performance, promising pipeline, and market opportunities position it for continued growth, despite potential competitive pressures.

References:
[1] https://www.gurufocus.com/news/2972031/alnylam-pharmaceuticals-alny-price-target-raised-to-359-by-b-of-a-securities-alny-stock-news
[2] https://www.gurufocus.com/news/2973008/alnylam-pharmaceuticals-alny-target-price-raised-by-citigroup-alny-stock-news
[3] https://au.investing.com/news/swot-analysis/alnylam-pharmaceuticals-swot-analysis-broad-label-approval-boosts-stock-outlook-93CH-3916141