Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Rating Lowered by Truist Financial

Key Points

• Truist Financial downgraded Alnylam Pharmaceuticals from “buy” to “hold,” while maintaining a $225 price target—about 36% above the stock’s current price.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $313.86, though several firms recently lowered their targets.
• Alnylam reported strong quarterly results, including $16.26 in EPS versus a $1.66 estimate and $1.46 billion in revenue, up 16.7% year over year.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) was downgraded by analysts at Truist Financial from a "buy" rating to a "hold" rating in a research report issued on Monday, Briefing.com reports. They presently have a $225.00 target price on the biopharmaceutical company's stock. Truist Financial's price target indicates a potential upside of 36.36% from the stock's current price.

Other analysts also recently issued research reports about the company. Jefferies Financial Group boosted their price target on Alnylam Pharmaceuticals from $230.00 to $260.00 and gave the company a "hold" rating in a research note on Tuesday, September 8th. The Goldman Sachs Group dropped their price objective on shares of Alnylam Pharmaceuticals from $536.00 to $320.00 and set a "buy" rating on the stock in a report on Friday. Oppenheimer decreased their target price on shares of Alnylam Pharmaceuticals from $350.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday. Zacks Research downgraded Alnylam Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 23rd. Finally, Barclays cut their price target on Alnylam Pharmaceuticals from $527.00 to $450.00 and set an "overweight" rating on the stock in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $313.86.

Alnylam Pharmaceuticals Stock Performance

ALNY opened at $165.00 on Monday. The company has a quick ratio of 2.43, a current ratio of 2.48 and a debt-to-equity ratio of 0.18. Alnylam Pharmaceuticals has a 52-week low of $163.30 and a 52-week high of $479.79. The company has a market cap of $22.10 billion, a P/E ratio of 8.57 and a beta of 0.43. The firm's 50-day moving average price is $236.49 and its 200-day moving average price is $286.19.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The biopharmaceutical company reported $16.26 EPS for the quarter, topping the consensus estimate of $1.66 by $14.60. Alnylam Pharmaceuticals had a net margin of 52.85% and a return on equity of 155.33%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the firm posted $2.90 earnings per share. The business's revenue for the quarter was up 16.7% compared to the same quarter last year. As a group, equities analysts anticipate that Alnylam Pharmaceuticals will post 6.58 EPS for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In other news, EVP Bryan Supran sold 1,758 shares of the firm's stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $226.88, for a total transaction of $398,855.04. Following the sale, the executive vice president owned 12,807 shares of the company's stock, valued at $2,905,652.16. This trade represents a 12.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.86% of the stock is owned by insiders.

Institutional Trading of Alnylam Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in ALNY. Toth Financial Advisory Corp purchased a new position in Alnylam Pharmaceuticals in the third quarter valued at $25,000. Burkett Financial Services LLC acquired a new position in shares of Alnylam Pharmaceuticals in the third quarter worth about $37,000. CoreCap Advisors LLC boosted its stake in shares of Alnylam Pharmaceuticals by 744.4% during the 3rd quarter. CoreCap Advisors LLC now owns 152 shares of the biopharmaceutical company's stock worth $38,000 after acquiring an additional 134 shares in the last quarter. Keating Financial Advisory Services Inc. purchased a new stake in shares of Alnylam Pharmaceuticals during the 2nd quarter worth about $42,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Alnylam Pharmaceuticals during the 3rd quarter valued at about $48,000. 92.97% of the stock is owned by hedge funds and other institutional investors.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines based on RNA interference (RNAi). The company's therapies are designed to silence specific genes involved in disease, with the goal of addressing the underlying causes of genetic and other serious conditions.

Alnylam's marketed products include ONPATTRO (patisiran) and AMVUTTRA (vutrisiran) for hereditary transthyretin-mediated amyloidosis, GIVLAARI (givosiran) for acute hepatic porphyria, and OXLUMO (lumasiran) for primary hyperoxaluria type 1.

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