TD Cowen maintained a Buy rating on Alnylam Pharmaceuticals with a $482 price target, citing positive subgroup data from the HELIOS-B Taf study presented at the European Society of Cardiology Congress 2026.
The analyst reiterated support for Alnylam’s transthyretin amyloid cardiomyopathy (TTR-CM) franchise, highlighting that TTR silencing remains an effective strategy. The data underscored three key differentiators for nucresiran: TTR knockdown levels, earlier disease intervention, and enhanced early-phase selection, positioning the drug favorably in the TRITON-CM trial.
Nucresiran achieved approximately 95% TTR knockdown, outperforming Amvuttra at roughly 87% and Wainua at about 75%, according to the comparative analysis. The company’s revenue surged 95% over the last twelve months, with a PEG ratio of 0.12, reflecting robust growth metrics despite recent market volatility.
Alnylam’s stock faced pressure earlier in 2026 following disappointing second-quarter guidance, which followed a peak in October 2025. Concerns were amplified by AstraZeneca’s Phase 3 clinical trial failure for a silencer drug targeting ATTR-CM, though Bernstein analysts suggested the market reaction may have been overblown.
BMO Capital maintained an Outperform rating with a $318 target, citing growth potential in the ATTR franchise, while Canaccord Genuity raised its target to $429 after reviewing ESC data. Bernstein SocGen Group reiterated an Outperform rating with a $376 target. Alnylam’s shares were trading near $241 at the time of the report.
