Oppenheimer says the FDA approval on Alnylam Pharmaceuticals’ (ALNY -1.7%) Givlaari treatment came in about three months ahead of schedule and sets up the company for upside.
“Following this early US approval, we expect a YE19 launch, and model 2020-24 WW net sales of $47M, $97M, $138M, $191M, and $236M, respectively. With Givlaari being the second RNAi drug to reach to market following Onpattro (and the first GalNAc conjugate), yesterday’s announcement provides incremental support to our positive outlook on the prospects for ALNY’s platform and pipeline.”
The firm has an Outperform rating on ALNY and price target of $128.
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