Truist Financial Begins Coverage on Alnylam Pharmaceuticals (NASDAQ:ALNY)

Equities researchers at Truist Financial began coverage on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) in a research note issued to investors on Monday, Marketbeat reports. The brokerage set a "buy" rating and a $385.00 price target on the biopharmaceutical company's stock. Truist Financial's price target would indicate a potential upside of 18.36% from the stock's previous close.

Other research analysts have also recently issued reports about the stock. Citigroup raised their target price on shares of Alnylam Pharmaceuticals from $364.00 to $404.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Jefferies Financial Group increased their price target on shares of Alnylam Pharmaceuticals from $328.00 to $384.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Wall Street Zen raised shares of Alnylam Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Needham & Company LLC increased their price target on shares of Alnylam Pharmaceuticals from $320.00 to $377.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Finally, Morgan Stanley reduced their price target on shares of Alnylam Pharmaceuticals from $284.00 to $268.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $347.75.

Alnylam Pharmaceuticals Stock Up 1.5%

ALNY traded up $4.76 during trading on Monday, hitting $325.28. The company had a trading volume of 1,268,974 shares, compared to its average volume of 853,616. The company has a market cap of $42.41 billion, a PE ratio of -155.64 and a beta of 0.23. The business has a 50-day moving average of $306.46 and a 200-day moving average of $272.05. The company has a debt-to-equity ratio of 8.88, a current ratio of 3.04 and a quick ratio of 2.98. Alnylam Pharmaceuticals has a 1-year low of $205.87 and a 1-year high of $333.70.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.07). Alnylam Pharmaceuticals had a negative return on equity of 510.31% and a negative net margin of 11.49%. The business had revenue of $594.19 million for the quarter, compared to analyst estimates of $584.32 million. During the same period last year, the company posted ($0.16) earnings per share. The firm's revenue for the quarter was up 20.2% on a year-over-year basis. As a group, analysts forecast that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Activity at Alnylam Pharmaceuticals

In related news, CEO Yvonne Greenstreet sold 19,297 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $306.00, for a total value of $5,904,882.00. Following the sale, the chief executive officer directly owned 48,948 shares in the company, valued at approximately $14,978,088. The trade was a 28.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of institutional investors have recently modified their holdings of ALNY. AMF Tjanstepension AB acquired a new position in shares of Alnylam Pharmaceuticals during the 2nd quarter worth approximately $10,610,000. Sava Infond d.o.o. increased its position in shares of Alnylam Pharmaceuticals by 4.8% during the second quarter. Sava Infond d.o.o. now owns 2,180 shares of the biopharmaceutical company's stock worth $711,000 after acquiring an additional 100 shares during the period. QRG Capital Management Inc. increased its position in shares of Alnylam Pharmaceuticals by 9.6% during the second quarter. QRG Capital Management Inc. now owns 2,136 shares of the biopharmaceutical company's stock worth $697,000 after acquiring an additional 187 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of Alnylam Pharmaceuticals during the second quarter worth $42,000. Finally, Lecap Asset Management Ltd. increased its position in shares of Alnylam Pharmaceuticals by 16.1% during the second quarter. Lecap Asset Management Ltd. now owns 1,985 shares of the biopharmaceutical company's stock worth $647,000 after acquiring an additional 276 shares during the period. Hedge funds and other institutional investors own 92.97% of the company's stock.

About Alnylam Pharmaceuticals

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.