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Alnylam Pharmaceuticals Rises After Being Named a Top Pick For 2022 -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Alnylam Pharmaceuticals Inc (NASDAQ:)After analysts from Cantor Fitzgerald and BofA identified the stock, shares rose more than 2% 

Analysts have been focusing on Alnylam this week, after BridgeBio reported that the company’s phase 3 trial investigating acoramidis in the treatment of rare heart diseases failed to reach its primary goal.

Stifel announced that the good news for Alnylam was soon after. The company is currently undertaking its Phase 3 Study of Patisiran. The shares of the company fell 17% to close the day. 

Alnylam shares started to recover their losses, however they are still 11% down in the week. 

The stock is still a popular pick at BofA next year, and analyst Tazeen Ahmed maintains a buy rating with a $211 price target. Alnylam shares are volatile because the company uses the same primary endpoints as BridgeBio. However, Alnylam has more stringent enrollment criteria which is an advantage.

Elsewhere, Cantor Fitzgerald said Alnylam could be a top M&A target for 2022, with mergers and acquisitions being important for industry valuations.

 

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