ANIP - Alnylam upgraded at Oppenheimer; says CEO departure is no concern

After Alnylam Pharmaceuticals (NASDAQ:ANIP) suffered a loss of nearly 20% last week on the departure of company’s long-serving CEO John Maraganore, Oppenheimer has upgraded the stock expecting the shares to recover as the impact of the news wanes over time. The price target at $200 per share implies a premium of ~25.3% to the last close. Alnylam (ANIP) has added ~2.5% in the pre-market. “While last Thursday's CEO transition plan announcement came as a surprise, we do not interpret John Maraganore's upcoming departure from management and BOD as a signal of concern,” the analyst Leland Gershell wrote. The firm expects the oncoming CEO Yvonne Greenstreet to bring “effective leadership” to the company as its “team of capable and experienced executives remains in place.” The firm considers the topline data release for Onpattro expected in mid-2022 from a late-stage trial in ATTR cardiomyopathy as a key catalyst. Read more on upcoming catalysts for Alnylam (ANIP) as

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Alnylam upgraded at Oppenheimer; says CEO departure is no concern