Seeking Alpha

Alnylam PT boosted to $94 at Needham

  • Analyst Alan Carr reiterates his Buy rating and boosts the price target to $94 from $65 following last night's Q4 results.
  • "Management reiterated plans to bring at least 6-7 candidates into clinical development by YE15, including two into Phase 3 by YE14," he notes. "Key milestones this year include data from the ALN-TTRsc Phase 2, ALN-AT3 Phase 1, and ALN-TTR02 Phase 2 OLE trials, all in 4Q14."
  • "The Jan 2014 Sanofi collaboration provides a large cash infusion, allowing a much larger R&D effort that may accelerate time to commercialization of multiple programs across multiple territories."
  • The $94 price target is based on 25x 2020 EPS estimates, discounted by 25% annually.
  • ALNY unchanged premarket
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