Alnylam Faces Near-Term Risk on Amvuttra, Oppenheimer Says

MT Newswires Live10-31 01:11

Alnylam Pharmaceuticals (ALNY) faces near-term risk with Amvuttra on potential changes to 2027 340B reimbursement plan, Oppenheimer said in a note Thursday.

"Next week, we look for publication of final 340B changes slated to take effect 1/1/2027," the report said. "A final discount rate less than the proposed 33.4% could drive 10-20%+ upside."

The note said the market priced in the worst-case scenario for Amvuttra's outlook. The drug is used to treat adult amyloidosis.

"ALNY price assumes -9% CAGR for Amvuttra in 2027-2035, and renders ALNY...a takeout candidate," the note said, pointing to Sanofi (SNY) as the most reasonable acquirer.

Oppenheimer kept its buy rating while lowering its price target to $320 from $350.

Price: 171.64, Change: -2.37, Percent Change: -1.36

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