Piper Jaffray analyst Edward Tenthoff reiterated an Overweight rating on Alnylam but cut his price target to $160 from $182, citing his lower patisiran sales forecast. In a research note to investors, Tenthoff said he is confident in patisiran approval by the August 11 PDUFA date with a broad label including ATTR polyneuropathy and cardiomyopathy patient and now sees sales of $12.8M this year and $96M in 2019. He also expects Alnylam to initiate a Phase III trial of ALN-TTRsc02 this year and a Phase III trial of lumasiran in 25 PH1 patients "soon," and says Alnylam will report interim Phase III ENVISION data on subcu givosiran in September with potential accelerated approval in mid-2019. Tenthoff says he is a buyer of Alnylam ahead of the patisiran approval.