UPDATE: JMP Securities Reiterates Market Perform on Alnylam Pharmaceuticals on Therapeutic Candidates

In a report published Monday, JMP Securities analyst Michael King reiterated Market Perform on Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY), with a $68.00 price target.

According to the report, “Development of ALNY RNAi therapeutic candidates is progressing ahead of prior guidance; reiterate Market Outperform rating and $68 price target on Alnylam. Last Friday, ALNY announced key pipeline goals for 2014, including that the company now expects to exceed its original “Alnylam 5x15” guidance from 2011. Previously, Alnylam had guided to have five genetic medicine programs in the clinic by the end of 2015, but now expects to end 2015 with six to seven genetic medicine programs in the clinic, including at least two programs in Phase III and five to six programs that will have achieved human proof-of-concept results supporting further development. We reiterate our Market Outperform rating and $68 PT based on DCF and SOTP valuation methodologies.”

ALNY closed Friday at $100.00 with shares trading up at 51.79 percent.