Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $485.00 at HC Wainwright

Key Points

• HC Wainwright raised its price target on Alnylam Pharmaceuticals to $485 from $470 and kept a buy rating, implying roughly 68% upside from the prior close.
• Despite the higher target, ALNY stock fell 3.6% on Monday to $288.04, near the lower end of its 52-week range and well below its recent highs.
• The company recently posted strong quarterly results, with EPS of $1.99 versus $0.87 expected and revenue of $1.17 billion, while analyst sentiment remains broadly positive with a Moderate Buy consensus.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price target lifted by HC Wainwright from $470.00 to $485.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the biopharmaceutical company's stock. HC Wainwright's price objective indicates a potential upside of 68.38% from the stock's previous close.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group reiterated a "hold" rating and issued a $330.00 target price (down from $522.00) on shares of Alnylam Pharmaceuticals in a research note on Monday, March 16th. Truist Financial set a $410.00 target price on shares of Alnylam Pharmaceuticals and gave the company a "buy" rating in a research note on Monday. Morgan Stanley upped their target price on shares of Alnylam Pharmaceuticals from $370.00 to $400.00 and gave the stock an "equal weight" rating in a research report on Friday. Wall Street Zen cut Alnylam Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Tuesday, July 7th. Finally, Weiss Ratings raised Alnylam Pharmaceuticals from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $457.57.

Alnylam Pharmaceuticals Stock Down 3.6%

Alnylam Pharmaceuticals stock traded down $10.72 during midday trading on Monday, hitting $288.04. The stock had a trading volume of 995,396 shares, compared to its average volume of 1,292,855. Alnylam Pharmaceuticals has a 12 month low of $273.11 and a 12 month high of $495.55. The business has a fifty day moving average price of $296.27 and a 200 day moving average price of $324.92. The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94. The stock has a market cap of $38.46 billion, a P/E ratio of 78.70 and a beta of 0.27.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $1.12. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.Alnylam Pharmaceuticals's quarterly revenue was up 96.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.44) earnings per share. Research analysts predict that Alnylam Pharmaceuticals will post 7.29 EPS for the current year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of Alnylam Pharmaceuticals stock in a transaction on 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 completion of the transaction, the director directly owned 1,582 shares of the company's stock, 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 Securities & Exchange Commission, 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 company insiders.

Institutional Trading of Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in ALNY. iA Global Asset Management Inc. lifted its position in shares of Alnylam Pharmaceuticals by 979.5% during the 4th quarter. iA Global Asset Management Inc. now owns 17,780 shares of the biopharmaceutical company's stock worth $7,070,000 after buying an additional 16,133 shares during the last quarter. Perpetual Ltd acquired a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter valued at approximately $2,004,000. Linden Advisors LP bought a new stake in shares of Alnylam Pharmaceuticals during the 3rd quarter valued at approximately $6,550,000. Jain Global LLC increased its position in Alnylam Pharmaceuticals by 366.5% during the 3rd quarter. Jain Global LLC now owns 78,046 shares of the biopharmaceutical company's stock worth $35,589,000 after purchasing an additional 61,316 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. bought a new position in Alnylam Pharmaceuticals in the 4th quarter valued at approximately $2,505,000. Institutional investors own 92.97% of the company's stock.

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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