Alnylam Executing, But Concerns About Safety And Competition Linger

In terms of controlling what they can control, I believe Alnylam Pharmaceuticals (ALNY) management is doing a good job. While there has certainly been criticism of the high cash burn and the large sums that the company spends on R&D, I believe funding a robust Phase III development program is a sound strategy to build the business. In the meantime, though, the shares seemed to be dogged not only about concerns about the ongoing cash burn, but also concerns about competition and platform safety. My position remains that Alnylam is in a stronger position than the share price reflects.
 Competition is always going to be a threat (any indication worth targeting will attract competition), but I believe the safety questions are closer to resolution. With another approval likely in early 2020 and a robust late-stage platform, I still believe these shares should trade closer to $130.

Continue here:
Alnylam Executing, But Concerns About Safety And Competition Linger