Alnylam Pharmaceuticals (ALNY) PT Raised to $128 at JMP Securities

JMP Securities analyst Michael King raised his price target on Alnylam Pharmaceuticals (NASDAQ: ALNY) to $128.00 (from $101.00) while maintaining a Market Outperform rating after the company announced positive top-line results for the Phase III APOLLO trial.

"We believe patisiran’s success in APOLLO significantly de-risks the other assets in the company’s pipeline, and we have lowered the discount rates for fitusiran, givosiran, and inclisiran to 25% (from 30%), 15% (from 22.5%) and 15% (from 20%), respectively," King said.

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