ALNY - Alnylam defended at H.C. Wainwright after delay for ATTR amyloidosis drug

H.C. Wainwright urges investors to buy Alnylam Pharma (NASDAQ:ALNY) on the dip after the shares of the commercial-stage biotech dropped on Monday in reaction to a delay in the U.S. regulatory review for vutrisiran, an experimental therapy for transthyretin-mediated amyloidosis (ATTR-PN). The analyst Patrick R. Trucchio reiterated the Buy rating on the stock, and the price target unchanged at $350 per share implies a premium of ~116% to the last close. The U.S. Food and Drug Administration (FDA) extended the review by three months to go through additional data related to a new secondary packaging and labeling facility for vutrisiran, the company said. While the disclosure was unexpected, the analyst continues to project more than $5 billion of peak annual revenues for vutrisiran across multiple indications, including ATTR-PN, ATTR amyloidosis with cardiomyopathy (ATTR-CM), and Stargardt disease.  “As such, we view any sell off tied to the moved PDUFA date as

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Alnylam defended at H.C. Wainwright after delay for ATTR amyloidosis drug