Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Nomura bearish on Alnylam; sees 28% downside risk

Published 09/15/2017, 09:23 AM
Updated 09/15/2017, 09:23 AM
© Reuters.  Nomura bearish on Alnylam; sees 28% downside risk
  • In a note, Nomura's Chris Marai initiates coverage on Alnylam Pharmaceuticals (NASDAQ:ALNY) with a Reduce rating and $56 (28% downside risk) price target citing the risk of a significant down move if the results from the APOLLO study on patisiran are less than expected (data release imminent).
  • If APOLLO is successful, then investors will face additional financing to support a high cash burn.
  • If and when the company launches patisiran, the ramp may be slower than hoped for due to the competitive landscape and relatively poor product profile. Mr. Marai mentions Ionis Pharmaceuticals' (NASDAQ:IONS) inotersen (formerly IONIS-TTRrx) as a negative catalyst. He estimates patisiran peak sales of $597M versus the consensus of ~$1B.
  • Previously: Alnylam priced at perfection - JPMorgan (NYSE:JPM); shares off 5% (June 26)
  • Now read: Alnylam Pharmaceuticals (ALNY) Presents At Alnylam's Fourth Annual RNAi Roundtable Series - Slideshow


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.