ALNY - Alnylam stock dips as Guggenheim slashes rating over mismatched risk/reward on upcoming trial results
Alnylam Pharmaceuticals (NASDAQ:ALNY) stock dipped ~2% on June 27 after Guggenheim downgraded the RNAi therapy maker's shares to Neutral from Buy, citing unfavorable risk/reward. The SA Quant Rating on ALNY is Hold, which which takes into account factors such as growth and profitability, among others things. The rating is in contrast to the average Wall Street Analysts' Rating of Buy, wherein 11 out of 23 analysts give it a Strong Buy rating. YTD, Alnylam's stock has declined -17.2%, which is largely similar to SP500TR, which has fallen -17.63%. See chart here. Guggenheim Analyst Debjit Chattopadhyay said that the firm's analysis, which followed discussions with key opinion leaders, suggests uncertainties in ATTR-CM, in spite of superiority of silencers in ATTR-PN. The firm sees a challenged outlook for the APOLLO-B study. The company's topline data from a late-stage trial of its drug patisiran in ATTR amyloidosis with cardiomyopathy (ATTR-CM) is awaited.
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Alnylam stock dips as Guggenheim slashes rating over mismatched risk/reward on upcoming trial results