Alnylam Pharmaceuticals Offers Proven, Undervalued RNAi Platform, But Doubts Around ATTR Program Remain

Alnylam Pharmaceuticals (NASDAQ:ALNY) has built a solid base for itself with multiple product approvals in recent years, but there is still work to be done – de-risk the opportunity for Onpattro in TTR amyloidosis with cardiomyopathy (or ATTR-CM), deliver strong HELIOS-B data, and continue to deliver promising new compounds from the company’s ongoing clinical projects.

Since my last update, Alnylam shares are down about 8%, but have kept pace with the SPDR S&P Biotech ETF (XBI), and over the past year, the shares have significantly outperformed that biotech ETF (+28% versus -35%). With a fair value in the $225 - $240 range by my valuation approaches, I still believe this is a biotech worth owning.

 

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Alnylam Pharmaceuticals Offers Proven, Undervalued RNAi Platform, But Doubts Around ATTR Program Remain