Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Cut to $470.00 by Analysts at HC Wainwright

Key Points

• HC Wainwright cut its price target on Alnylam Pharmaceuticals from $510 to $470 while keeping a buy rating, implying about 61% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $461.39 across coverage.
• Alnylam posted strong quarterly results, reporting $1.99 EPS on $1.17 billion in revenue, both ahead of expectations, with revenue up 96.4% year over year.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price objective cut by analysts at HC Wainwright from $510.00 to $470.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the biopharmaceutical company's stock. HC Wainwright's price objective would indicate a potential upside of 61.31% from the stock's previous close.

ALNY has been the subject of a number of other reports. Citigroup began coverage on Alnylam Pharmaceuticals in a research note on Tuesday, May 19th. They issued a "buy" rating and a $380.00 target price for the company. Royal Bank Of Canada decreased their price objective on Alnylam Pharmaceuticals from $450.00 to $445.00 and set an "outperform" rating on the stock in a research report on Friday, May 1st. Truist Financial cut their price target on Alnylam Pharmaceuticals from $515.00 to $505.00 and set a "buy" rating on the stock in a research note on Monday, April 13th. Chardan Capital reiterated a "buy" rating and issued a $425.00 price target on shares of Alnylam Pharmaceuticals in a report on Wednesday, March 25th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $330.00 price objective (down from $522.00) on shares of Alnylam Pharmaceuticals in a research report on Monday, March 16th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Alnylam Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $461.39.

Alnylam Pharmaceuticals Price Performance

NASDAQ:ALNY opened at $291.37 on Monday. The firm has a market cap of $38.90 billion, a PE ratio of 79.61 and a beta of 0.29. Alnylam Pharmaceuticals has a 12 month low of $273.11 and a 12 month high of $495.55. The company has a quick ratio of 3.06, a current ratio of 3.13 and a debt-to-equity ratio of 0.94. The company's 50-day moving average price is $296.26 and its two-hundred day moving average price is $331.38.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $0.87 by $1.12. Alnylam Pharmaceuticals had a net margin of 11.72% and a return on equity of 85.76%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business posted ($0.44) earnings per share. The company's revenue was up 96.4% on a year-over-year basis. On average, equities analysts anticipate that Alnylam Pharmaceuticals will post 7.47 EPS for the current fiscal year.

Insider Activity

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the transaction, the director owned 1,582 shares in the company, valued at approximately $473,302.76. This trade represents a 70.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Melissa Mclaughlin sold 2,286 shares of the company's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $330.42, for a total value of $755,340.12. Following the completion of the sale, the insider directly owned 9,443 shares of the company's stock, valued at approximately $3,120,156.06. This trade represents a 19.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 7,740 shares of company stock worth $2,420,214 in the last three months. Insiders own 0.86% of the company's stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. MV Capital Management Inc. bought a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter valued at $25,000. HM Payson & Co. bought a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter worth about $27,000. Golden State Wealth Management LLC raised its position in shares of Alnylam Pharmaceuticals by 100.0% during the fourth quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 36 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Alnylam Pharmaceuticals during the 3rd quarter valued at about $29,000. Finally, Ameriflex Group Inc. bought a new position in shares of Alnylam Pharmaceuticals during the 3rd quarter valued at about $32,000. 92.97% of the stock is currently owned by institutional investors and hedge funds.

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.

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