Alnylam Pharmaceuticals (NASDAQ:ALNY) Downgraded by Wall Street Zen to Buy

Key Points

• Alnylam Pharmaceuticals has been downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, a reflection of changing analyst sentiment.
• Despite the downgrade, major investment firms have raised their price targets for the stock, with Evercore ISI setting a new target at $515.05.
• Alnylam's recent earnings report showed a profit of $0.32 per share, significantly beating analyst expectations and demonstrating a 17.3% increase in revenue year-over-year.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Sunday.

Several other research firms have also weighed in on ALNY. Evercore ISI increased their target price on shares of Alnylam Pharmaceuticals from $280.00 to $515.05 and gave the stock an "outperform" rating in a report on Thursday, September 11th. Stifel Nicolaus increased their target price on shares of Alnylam Pharmaceuticals from $441.00 to $495.00 and gave the stock a "buy" rating in a report on Monday, October 6th. Canaccord Genuity Group increased their target price on shares of Alnylam Pharmaceuticals from $390.00 to $415.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Morgan Stanley increased their target price on shares of Alnylam Pharmaceuticals from $405.00 to $475.00 and gave the stock an "equal weight" rating in a report on Monday, October 6th. Finally, Wolfe Research upgraded shares of Alnylam Pharmaceuticals from an "underperform" rating to a "peer perform" rating in a report on Monday, August 4th. Twenty-four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $457.16.

Alnylam Pharmaceuticals Trading Up 0.6%

Shares of NASDAQ ALNY opened at $459.66 on Friday. The company's 50 day simple moving average is $451.37 and its 200 day simple moving average is $345.60. Alnylam Pharmaceuticals has a fifty-two week low of $205.87 and a fifty-two week high of $484.21. The firm has a market capitalization of $60.25 billion, a P/E ratio of -186.10 and a beta of 0.36. The company has a debt-to-equity ratio of 4.10, a current ratio of 2.80 and a quick ratio of 2.75.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $0.32 earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.86. The business had revenue of $773.69 million for the quarter, compared to analyst estimates of $633.54 million. Alnylam Pharmaceuticals had a negative net margin of 12.96% and a negative return on equity of 273.52%. Alnylam Pharmaceuticals's revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.13) earnings per share. Alnylam Pharmaceuticals has set its FY 2025 guidance at EPS. On average, analysts predict that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, EVP Pushkal Garg sold 3,022 shares of the firm's stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $451.48, for a total transaction of $1,364,372.56. Following the sale, the executive vice president directly owned 20,221 shares in the company, valued at $9,129,377.08. This trade represents a 13.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Tolga Tanguler sold 1,405 shares of the firm's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $452.05, for a total transaction of $635,130.25. Following the sale, the executive vice president owned 27,438 shares in the company, valued at approximately $12,403,347.90. The trade was a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,144 shares of company stock valued at $44,160,261 over the last quarter. 1.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Evelyn Partners Investment Management LLP grew its position in Alnylam Pharmaceuticals by 11.5% in the second quarter. Evelyn Partners Investment Management LLP now owns 290 shares of the biopharmaceutical company's stock valued at $95,000 after purchasing an additional 30 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Alnylam Pharmaceuticals by 0.3% in the second quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company's stock valued at $4,220,000 after purchasing an additional 35 shares in the last quarter. Bayforest Capital Ltd grew its position in Alnylam Pharmaceuticals by 14.6% in the first quarter. Bayforest Capital Ltd now owns 306 shares of the biopharmaceutical company's stock valued at $83,000 after purchasing an additional 39 shares in the last quarter. MAI Capital Management grew its position in Alnylam Pharmaceuticals by 9.2% in the second quarter. MAI Capital Management now owns 488 shares of the biopharmaceutical company's stock valued at $159,000 after purchasing an additional 41 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in Alnylam Pharmaceuticals by 32.6% in the second quarter. Parkside Financial Bank & Trust now owns 179 shares of the biopharmaceutical company's stock valued at $58,000 after purchasing an additional 44 shares in the last quarter. Institutional investors own 92.97% of the company's stock.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.