Piper Jaffray Maintains Neutral Rating, $10 PT On ALNY

Piper Jaffray is maintaining its Neutral rating and $10 PT on shares of Alnylam Pharmaceuticals (NASDAQ: ALNY).

“This morning, Alnylam announced a new siRNA delivery collaboration with Precision NanoSystems,” Piper Jaffray writes. “Alnylam has worked with several delivery partners including Tekmira, MIT AlCana and the University of British Columbia. Tekmira and Alnylam are presently involved in a dispute in Massachusetts Superior Court.”

“With the industry leading siRNA patent estate and discovery capabilities, Alnylam has focused on delivery to expand the druggability of RNAi technology,” Piper Jaffray continues.

“To this point, Alnylam has made proprietary investments and broadly partnered with Tekmira, MIT AlCana, the University of British Columbia and others. Today the company signed an exclusive collaboration with Precision NanoSystems for small Lipid NanoParticles (sLNPs). Using microfluidics, these particles are only about 20 nanometers in size and may enable broader siRNA delivery throughout the body.”

Alnylam Pharmaceuticals currently trades at $9.47.