Nomura Instinet analyst Christopher Marai tells investors to sell shares of Alnylam Pharmaceuticals following yesterday's rally. Anylam's Phase 3 Apollo trial results for patisiran in patients with hereditary ATTR amyloidosis with polyneuropathy met all primary and secondary endpoints at 18 months, though only showed trends toward benefit at nine months, Marai writes in a research note. He believes it is too early to ascribe any valuation to the unanalyzed results of the cardiac subgroup, but notes "it appears the stock has priced them in, in the move post data." Alnylam is now "substantially overvalued," Marai says. He keeps a Reduce rating on the shares with a $56 price target. The stock closed yesterday up 52%, or $38.80, to $113.84.

ProQR Therapeutics (PRQR) announced the Annual General Meeting, AGM, of Shareholders will take place on Wednesday, May 22, 2024 at the offices of Allen & Overy LLP, in Amsterdam, the Netherlands. As part of the AGM, Martin Maier, PhD, is nominated for appointment as a non-executive Board Member for a period of four years. Dr. Maier is Senior Vice President Research heading the Oncology group at Alnylam Pharmaceuticals (ALNY).