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Fly News Breaks for November 15, 2016
MDCO, ALNY
Nov 15, 2016 | 13:55 EDT
Piper Jaffray analyst Edward Tenthoff recommends using today's selloff in shares of Alnylam Pharmaceuticals (ALNY) as a buying opportunity. Alnylam's partner The Medicine's Company (MDCO) presented today positive interim safety and efficacy data from the Phase II ORION-1 study of inclisiran, but the stock is weak today on one fatal heart attack in the 500mg inclisiran arm unrelated to study drug, Tenthoff tells investors in a research note. The analyst was impressed by the drug's efficacy and reiterates an Overweight rating on Alnylam with a $106 price target. The stock is down 3% to $48.36 in afternoon trading.
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