By Sam Boughedda
Investing.com — Alnylam Pharmaceuticals Inc (NASDAQ:ALNY)shares have risen over 2% after analysts at BofA and Cantor Fitzgerald singled the stock out.
Alnylam has been the focus of analysts this week after its shares fell in sympathy with BridgeBio after reporting that its phase 3 trial, investigating acoramidis for the treatment of a rare heart disease, failed to meet its primary endpoint.
Shortly after, Stifel said the news was positive for Alnylam, which is currently conducting its phase 3 Study of patisiran. However, the company's shares fell, closing the day down 17%.
Alnylam shares have begun to reclaim those losses but are still down 11% in the past week.
Nevertheless, the stock remains a top pick for next year at BofA, with analyst Tazeen Ahmad maintaining a buy rating and $211 price target on the stock. The analyst said that the volatility in Alnylam shares is due to the company using the same primary endpoint as BridgeBio, but Alnylam's "more stringent enrollment criteria is an advantage."
Elsewhere, Cantor Fitzgerald said Alnylam could be a top M&A target for 2022, with mergers and acquisitions being important for industry valuations.