Raymond James Financial Upgrades Alnylam Pharmaceuticals (NASDAQ:ALNY) to "Strong-Buy"

Key Points

• Raymond James upgraded Alnylam Pharmaceuticals to “Strong Buy” and set a $420 price target, implying approximately 104% upside from the stock’s $205.52 opening price.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and average target of $404.57, although several firms recently lowered their price targets.
• Alnylam reported stronger-than-expected quarterly results, including $1.99 in earnings per share versus an $0.87 estimate and $1.17 billion in revenue, up 96.4% year over year.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) was upgraded by research analysts at Raymond James Financial from an "outperform" rating to a "strong-buy" rating in a research report issued on Monday, Marketbeat Ratings reports. The firm currently has a $420.00 price objective on the biopharmaceutical company's stock. Raymond James Financial's target price suggests a potential upside of 104.36% from the company's current price.

ALNY has been the subject of a number of other research reports. JPMorgan Chase & Co. lowered their target price on shares of Alnylam Pharmaceuticals from $400.00 to $375.00 and set an "overweight" rating for the company in a report on Friday. Truist Financial dropped their price objective on shares of Alnylam Pharmaceuticals from $505.00 to $410.00 and set a "buy" rating on the stock in a report on Monday, July 13th. HC Wainwright restated a "buy" rating on shares of Alnylam Pharmaceuticals in a research note on Friday. Needham & Company LLC reduced their price objective on shares of Alnylam Pharmaceuticals from $510.00 to $357.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Weiss Ratings raised shares of Alnylam Pharmaceuticals from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $404.57.

Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ:ALNY opened at $205.52 on Monday. The business's fifty day moving average price is $287.96 and its two-hundred day moving average price is $310.90. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.13 and a quick ratio of 3.06. Alnylam Pharmaceuticals has a fifty-two week low of $197.81 and a fifty-two week high of $495.55. The stock has a market capitalization of $27.50 billion, a price-to-earnings ratio of 38.20 and a beta of 0.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, topping the consensus estimate of $0.87 by $1.12. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. Alnylam Pharmaceuticals had a return on equity of 104.81% and a net margin of 15.26%.Alnylam Pharmaceuticals's revenue was up 96.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.44) EPS. As a group, analysts predict that Alnylam Pharmaceuticals will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, Director David E. I. Pyott sold 3,830 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $299.18, for a total value of $1,145,859.40. Following the transaction, the director directly owned 1,582 shares of the company's stock, valued at $473,302.76. This trade represents a 70.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.86% of the company's stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. MV Capital Management Inc. bought a new stake in Alnylam Pharmaceuticals during the 4th quarter worth $25,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at $29,000. HM Payson & Co. bought a new stake in Alnylam Pharmaceuticals during the fourth quarter valued at $27,000. Golden State Wealth Management LLC grew its stake in 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. Finally, Manchester Capital Management LLC grew its position in shares of Alnylam Pharmaceuticals by 600.0% during the 4th quarter. Manchester Capital Management LLC now owns 84 shares of the biopharmaceutical company's stock worth $33,000 after buying an additional 72 shares during the period. 92.97% of the stock is owned by institutional investors.

Alnylam Pharmaceuticals News Summary

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

• Positive Sentiment: Chardan Capital reiterated its Buy rating on Alnylam, providing some support for the investment case amid a wave of more cautious analyst commentary. Alnylam Pharmaceuticals' Buy Rating Reiterated at Chardan Capital
• Neutral Sentiment: Royal Bank of Canada lowered its price target to $350 but maintained a target well above the current trading level, suggesting reduced expectations rather than a complete loss of confidence. Royal Bank of Canada Cuts Alnylam Pharmaceuticals Price Target
• Negative Sentiment: Wells Fargo cut its price target to $316, adding to concerns that analysts are moderating their valuation assumptions for ALNY. Wells Fargo Cuts Alnylam Pharmaceuticals Price Target
• Negative Sentiment: Stifel Nicolaus reduced its price target to $318, reinforcing the recent pattern of downward target revisions. Stifel Nicolaus Cuts Alnylam Pharmaceuticals Price Target
• Negative Sentiment: Morgan Stanley lowered its expectations for ALNY, while Oppenheimer issued a pessimistic stock-price forecast. These reports may weigh on sentiment by signaling less confidence in near-term appreciation. Morgan Stanley Lowers Expectations Oppenheimer Issues Pessimistic Forecast
• Negative Sentiment: Wall Street Zen downgraded Alnylam to Hold from its previous rating, adding another cautionary signal for investors. Wall Street Zen Downgrades Alnylam to Hold

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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