Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $530.00 Price Target at Truist Financial

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective decreased by stock analysts at Truist Financial from $535.00 to $530.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s target price would indicate a potential upside of 28.47% from the stock’s previous close.

ALNY has been the topic of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alnylam Pharmaceuticals in a research report on Wednesday, October 8th. Leerink Partners cut their price target on shares of Alnylam Pharmaceuticals from $370.00 to $351.00 and set a “market perform” rating on the stock in a report on Monday, December 15th. Wells Fargo & Company boosted their target price on shares of Alnylam Pharmaceuticals from $395.00 to $479.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. The Goldman Sachs Group lifted their price target on Alnylam Pharmaceuticals from $504.00 to $566.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Finally, HC Wainwright set a $570.00 target price on Alnylam Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, November 4th. Twenty-two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $484.21.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ ALNY traded down $9.96 on Thursday, hitting $412.54. The company’s stock had a trading volume of 392,540 shares, compared to its average volume of 1,045,567. The company has a debt-to-equity ratio of 4.45, a current ratio of 2.54 and a quick ratio of 2.49. Alnylam Pharmaceuticals has a 12-month low of $205.87 and a 12-month high of $495.55. The company has a market capitalization of $54.50 billion, a price-to-earnings ratio of 1,722.42 and a beta of 0.32. The stock has a 50 day moving average of $427.88 and a 200-day moving average of $419.43.

Insiders Place Their Bets

In other news, EVP Kevin Joseph Fitzgerald sold 12,128 shares of Alnylam Pharmaceuticals stock in a transaction on Monday, November 17th. The stock was sold at an average price of $452.18, for a total transaction of $5,484,039.04. Following the transaction, the executive vice president directly owned 21,264 shares in the company, valued at approximately $9,615,155.52. This trade represents a 36.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Yvonne Greenstreet sold 15,650 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $453.69, for a total value of $7,100,248.50. Following the completion of the sale, the chief executive officer directly owned 65,409 shares in the company, valued at $29,675,409.21. This represents a 19.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 37,778 shares of company stock valued at $17,096,988. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Alnylam Pharmaceuticals by 2.0% during the third quarter. Vanguard Group Inc. now owns 13,565,452 shares of the biopharmaceutical company’s stock worth $6,185,846,000 after buying an additional 268,313 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Alnylam Pharmaceuticals by 0.4% during the third quarter. Capital Research Global Investors now owns 7,222,840 shares of the biopharmaceutical company’s stock worth $3,293,516,000 after purchasing an additional 31,184 shares during the period. Groupama Asset Managment lifted its holdings in shares of Alnylam Pharmaceuticals by 160.4% during the 3rd quarter. Groupama Asset Managment now owns 4,032,082 shares of the biopharmaceutical company’s stock valued at $18,610,000 after buying an additional 2,483,697 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Alnylam Pharmaceuticals by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,398,770 shares of the biopharmaceutical company’s stock valued at $779,857,000 after buying an additional 75,936 shares in the last quarter. Finally, Orbis Allan Gray Ltd raised its position in Alnylam Pharmaceuticals by 29.8% during the second quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company’s stock valued at $691,771,000 after acquiring an additional 486,489 shares in the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc (NASDAQ: ALNY) is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.