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Fly News Breaks for September 15, 2017
ALNY
Sep 15, 2017 | 05:37 EDT
Nomura Instinet analyst Christopher Marai last night initiated Alnylam Pharmaceuticals with a Reduce rating and $56 price target. The analyst recommends reducing exposure to the shares ahead of the patisiran Phase 3 Apollo readout. He sees a good chance of a successful readout, but notes that a "possible, unlikely disappointment" could send shares "substantially" lower. A patisiran launch will likely be "slow and disappointing," based on competition and the relatively poor product profile, Marai told investors in a research note.
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