Trading in Alnylam Pharmaceuticals (ALNY) shares has been choppy since my last update, and all year frankly, with a small decline in the share price since that last update in late September. Since then, the company has reported another good quarter of Onpattro sales, as the healthcare community learns more about how to work around the COVID-19 pandemic, as well as further positive data on multiple programs, including the early-stage ALN-AGT program in hypertension.
While a pause in a Phase III study of fitusiran (managed/controlled by partner Sanofi (SNY)) is a negative development, updates on Oxlumo and ALN-AGT have been more positive, leading to a small net improvement in my estimated fair value, taking the fair value to a little over $160. Two more Alnylam compounds should receive FDA approval before year-end, and 2021 is set to see multiple significant clinical developments, including the initiation of a study for a compound that works outside the liver. Given a high-quality pipeline, the potential to expand its technology into new treatment areas, and solid growth potential in its approved compounds, I continue to believe that Alnylam is a biotech stock worth owning at these levels.
Click here for more:
Alnylam Seeing A Rebound In Onpattro And Encouraging Early-Stage Hypertension Data
No comments:
Post a Comment