Truist Financial Cuts Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $505.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price cut by Truist Financial from $515.00 to $505.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other equities analysts have also issued reports on the company. Wall Street Zen lowered Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Oppenheimer assumed coverage on Alnylam Pharmaceuticals in a report on Wednesday, January 7th. They issued an “outperform” rating and a $500.00 target price for the company. Canaccord Genuity Group upped their target price on Alnylam Pharmaceuticals from $415.00 to $429.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Royal Bank Of Canada reduced their target price on Alnylam Pharmaceuticals from $500.00 to $465.00 and set an “outperform” rating for the company in a report on Tuesday, January 20th. Finally, Morgan Stanley reduced their target price on Alnylam Pharmaceuticals from $495.00 to $408.00 and set an “equal weight” rating for the company in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $472.78.

Alnylam Pharmaceuticals Stock Performance

ALNY stock opened at $333.39 on Monday. The firm has a market cap of $44.48 billion, a PE ratio of 194.96 and a beta of 0.39. The company has a quick ratio of 2.71, a current ratio of 2.76 and a debt-to-equity ratio of 1.28. The business has a 50 day moving average of $323.43 and a 200-day moving average of $388.20. Alnylam Pharmaceuticals has a 12-month low of $225.84 and a 12-month high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, February 12th. The biopharmaceutical company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.18). The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.16 billion. Alnylam Pharmaceuticals had a net margin of 6.43% and a return on equity of 69.02%. The business’s revenue was up 84.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.65) earnings per share. As a group, sell-side analysts expect that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, EVP Pushkal Garg sold 2,242 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $310.08, for a total transaction of $695,199.36. Following the completion of the transaction, the executive vice president directly owned 24,848 shares of the company’s stock, valued at approximately $7,704,867.84. This represents a 8.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey V. Poulton sold 2,242 shares of the stock in a transaction on Friday, February 13th. The shares were sold at an average price of $310.08, for a total value of $695,199.36. Following the transaction, the executive vice president directly owned 59,802 shares of the company’s stock, valued at approximately $18,543,404.16. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 38,656 shares of company stock valued at $12,370,696 in the last quarter. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mediolanum International Funds Ltd purchased a new stake in shares of Alnylam Pharmaceuticals during the third quarter worth $11,389,000. Rakuten Investment Management Inc. purchased a new stake in shares of Alnylam Pharmaceuticals during the third quarter worth $14,205,000. Generali Asset Management SPA SGR lifted its position in shares of Alnylam Pharmaceuticals by 6,368.0% during the third quarter. Generali Asset Management SPA SGR now owns 3,234 shares of the biopharmaceutical company’s stock worth $1,475,000 after acquiring an additional 3,184 shares in the last quarter. Congress Asset Management Co. purchased a new stake in shares of Alnylam Pharmaceuticals during the third quarter worth $54,173,000. Finally, Cerity Partners LLC lifted its position in shares of Alnylam Pharmaceuticals by 171.2% during the third quarter. Cerity Partners LLC now owns 27,429 shares of the biopharmaceutical company’s stock worth $12,507,000 after acquiring an additional 17,316 shares in the last quarter. 92.97% of the stock is owned by institutional investors.

Alnylam Pharmaceuticals Company Profile

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.