Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Lowered to $340.00 at Citigroup

Key Points

• Citigroup lowered Alnylam Pharmaceuticals’ price target to $340 from $380 while maintaining a “buy” rating, implying 56.93% upside from the previous close.
• Analyst sentiment remains mixed but broadly positive: Alnylam has a “Moderate Buy” consensus rating and an average target of $402.67, despite several firms reducing their targets.
• The stock closed at $216.66 after rising $11.14, while the company reported quarterly EPS of $1.99 versus the $0.87 consensus and revenue growth of 96.4% year over year.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price target reduced by Citigroup from $380.00 to $340.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the biopharmaceutical company's stock. Citigroup's target price suggests a potential upside of 56.93% from the stock's previous close.

A number of other research firms have also recently weighed in on ALNY. Morgan Stanley cut their price objective on shares of Alnylam Pharmaceuticals from $400.00 to $300.00 and set an "equal weight" rating on the stock in a research report on Friday. JPMorgan Chase & Co. dropped their price objective on shares of Alnylam Pharmaceuticals from $400.00 to $375.00 and set an "overweight" rating on the stock in a report on Friday. Stifel Nicolaus decreased their target price on Alnylam Pharmaceuticals from $444.00 to $318.00 and set a "buy" rating for the company in a report on Friday. Weiss Ratings raised Alnylam Pharmaceuticals from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday. Finally, Raymond James Financial raised Alnylam Pharmaceuticals from an "outperform" rating to a "strong-buy" rating and set a $420.00 target price for the company in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Alnylam Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $402.67.

Alnylam Pharmaceuticals Stock Performance

Shares of Alnylam Pharmaceuticals stock traded up $11.14 on Monday, hitting $216.66. 1,997,354 shares of the company's stock were exchanged, compared to its average volume of 1,386,364. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.06 and a current ratio of 3.13. The company has a 50-day simple moving average of $287.96 and a 200-day simple moving average of $310.90. The stock has a market capitalization of $28.99 billion, a PE ratio of 40.25 and a beta of 0.30. Alnylam Pharmaceuticals has a 1 year low of $197.81 and a 1 year high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $1.12. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. Alnylam Pharmaceuticals had a return on equity of 104.81% and a net margin of 15.26%.The business's quarterly revenue was up 96.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.44) earnings per share. As a group, equities analysts anticipate that Alnylam Pharmaceuticals will post 7.22 EPS for the current year.

Insider Activity

In related news, Director David E. I. Pyott sold 3,830 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $299.18, for a total value of $1,145,859.40. Following the transaction, the director owned 1,582 shares in the company, valued at $473,302.76. The trade was a 70.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its position in Alnylam Pharmaceuticals by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 2,650,722 shares of the biopharmaceutical company's stock worth $1,056,884,000 after buying an additional 151,480 shares in the last quarter. Norges Bank acquired a new position in Alnylam Pharmaceuticals in the 4th quarter worth $895,816,000. Orbis Allan Gray Ltd increased its position in shares of 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 worth $691,771,000 after acquiring an additional 486,489 shares during the last quarter. Legal & General Group Plc increased its position in shares of Alnylam Pharmaceuticals by 8.3% during the fourth quarter. Legal & General Group Plc now owns 961,496 shares of the biopharmaceutical company's stock worth $382,339,000 after acquiring an additional 73,716 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Alnylam Pharmaceuticals by 23.6% in the fourth quarter. AQR Capital Management LLC now owns 919,959 shares of the biopharmaceutical company's stock worth $365,822,000 after acquiring an additional 175,951 shares in the last quarter. Hedge funds and other institutional investors own 92.97% of the company's stock.

Alnylam Pharmaceuticals News Roundup

Here are the key news stories impacting Alnylam Pharmaceuticals this week:

• Positive Sentiment: Raymond James upgraded ALNY from “outperform” to “strong buy” and set a $420 price target, implying substantial potential upside from recent levels. Finviz analyst upgrade report
• Positive Sentiment: Chardan Capital reiterated its “buy” rating, reinforcing the view that Alnylam’s long-term growth prospects remain attractive. Chardan Capital reiterates buy rating
• Neutral Sentiment: Barclays lowered its price target from $527 to $450 but retained an “overweight” rating. The reduced target still represents considerable upside, suggesting a more cautious valuation outlook rather than a change to its bullish stance. Benzinga Barclays analyst report
• Neutral Sentiment: Wells Fargo, Stifel Nicolaus and Royal Bank of Canada cut their targets to $316, $318 and $350, respectively. These revisions temper expectations but remain above the recent share price. Wells Fargo lowers Alnylam price target Stifel lowers Alnylam price target RBC lowers Alnylam price target
• Negative Sentiment: Morgan Stanley lowered its expectations, while Oppenheimer issued a pessimistic forecast. Wall Street Zen also downgraded Alnylam to “hold,” adding to the recent cautious tone around the stock. Morgan Stanley lowers expectations Oppenheimer pessimistic forecast Wall Street Zen downgrades Alnylam

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.

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