Truist Securities reiterated a Buy rating and $315 price target for Alnylam Pharmaceuticals on Monday, citing a notably low PEG ratio of 0.12 despite mixed clinical trial results for the company's TTR-silencing therapy eplontersen.
The CARDIO-TTRansform trial, which evaluated eplontersen in patients with transthyretin-mediated amyloidosis with cardiomyopathy, previously failed to meet its primary endpoint. Data from the trial were presented at the European Society of Cardiology congress, with Alnylam's stock trading at $241 at the time of Truist's note.
Other analysts offered divergent views on Alnylam's valuation. TD Cowen maintained a Buy rating with a $482 price target, while BMO Capital kept its Outperform rating. Canaccord Genuity and Bernstein also reiterated Buy and Outperform ratings, with price targets of $429 and $376, respectively.
The mixed trial results follow AstraZeneca's announcement of a failed Phase 3 trial for an ATTR-CM targeting drug, which showed no improvement in patients already stabilized on medication. Alnylam's next-generation candidate nucresiran is being evaluated in the TRITON-CM trial, while the company's existing therapy Amvuttra remains a key product in its portfolio.
Cardiology data from the European Society of Cardiology Congress were published in the New England Journal of Medicine.
