Barclays Issues Pessimistic Forecast for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Key Points

• Barclays cut Alnylam Pharmaceuticals’ price target from $450 to $380 while maintaining an “overweight” rating, implying substantial upside from the stock’s previous close.
• Analyst sentiment remains mixed but leans positive: MarketBeat reports a consensus “Moderate Buy” rating and an average target of $305.86, despite several recent target reductions and downgrades.
• Alnylam shares fell 2.5% to $160.81 in Monday trading, while the company recently reported quarterly revenue of $1.46 billion and EPS of $16.26, both ahead of analyst expectations.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price target reduced by stock analysts at Barclays from $450.00 to $380.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the biopharmaceutical company's stock. Barclays's price target would suggest a potential upside of 136.30% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group upped their price target on Alnylam Pharmaceuticals from $230.00 to $260.00 and gave the stock a "hold" rating in a report on Tuesday, September 8th. Needham & Company LLC cut their price objective on shares of Alnylam Pharmaceuticals from $357.00 to $243.00 and set a "buy" rating on the stock in a report on Thursday. The Goldman Sachs Group reduced their target price on shares of Alnylam Pharmaceuticals from $536.00 to $320.00 and set a "buy" rating for the company in a research note on Friday. Wall Street Zen lowered shares of Alnylam Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Alnylam Pharmaceuticals in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, Alnylam Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $305.86.

Alnylam Pharmaceuticals Stock Down 2.5%

NASDAQ ALNY traded down $4.19 during trading hours on Monday, hitting $160.81. The company's stock had a trading volume of 2,885,567 shares, compared to its average volume of 1,525,674. The company has a market capitalization of $21.54 billion, a PE ratio of 8.34 and a beta of 0.43. The company has a current ratio of 2.48, a quick ratio of 2.43 and a debt-to-equity ratio of 0.18. Alnylam Pharmaceuticals has a 52 week low of $156.00 and a 52 week high of $479.79. The company's 50-day simple moving average is $236.49 and its two-hundred day simple moving average is $286.19.

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

Insider Transactions at Alnylam Pharmaceuticals

In other news, EVP Bryan Supran sold 1,758 shares of the firm's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $226.88, for a total transaction of $398,855.04. Following the completion of the sale, the executive vice president directly 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 SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Toth Financial Advisory Corp purchased a new position in Alnylam Pharmaceuticals in the third quarter valued at about $25,000. Burkett Financial Services LLC bought a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter worth approximately $37,000. CoreCap Advisors LLC raised its holdings in shares of Alnylam Pharmaceuticals by 744.4% in the 3rd quarter. CoreCap Advisors LLC now owns 152 shares of the biopharmaceutical company's stock worth $38,000 after purchasing an additional 134 shares during the period. Keating Financial Advisory Services Inc. purchased a new position in Alnylam Pharmaceuticals in the second quarter valued at approximately $42,000. Finally, Root Financial Partners LLC purchased a new position in Alnylam Pharmaceuticals in the third quarter valued at approximately $48,000. Institutional investors own 92.97% of the company's stock.

Key Headlines Impacting Alnylam Pharmaceuticals

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

• Positive Sentiment: Canaccord Genuity lowered its price target to $323 from $429 but maintained a Buy rating, indicating roughly 100% potential upside based on the cited share price. Canaccord Genuity analyst action
• Positive Sentiment: RBC Capital kept its Buy rating on Alnylam, providing some support amid the broader wave of target reductions. RBC Capital maintains Buy rating
• Neutral Sentiment: Oppenheimer, Chardan Capital, Goldman Sachs, Wells Fargo, and Royal Bank of Canada reportedly trimmed their price targets. The revisions reinforce a more cautious valuation view, but the articles provided do not specify the new targets or rating changes. Oppenheimer price target cut Chardan Capital price target trim Goldman Sachs price target reduction Wells Fargo price target cut RBC price target cut
• Negative Sentiment: Truist downgraded Alnylam from Buy to Hold and cut its price target to $225 from $315. Although the target still implies upside, the downgrade is a direct negative signal for investor sentiment. Truist downgrade and price target cut
• Negative Sentiment: Sanford C. Bernstein cut Alnylam to Market Perform, while Morgan Stanley and TD Cowen issued more pessimistic forecasts. Together with the other target cuts, the actions are likely weighing on the stock. Bernstein Market Perform rating Morgan Stanley forecast TD Cowen forecast

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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