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

Key Points

• Truist Financial cut Alnylam’s price target from $410 to $315 while maintaining a “buy” rating, implying roughly 46% upside from the stock’s previous close.
• ALNY shares fell 2% to $215.93 and remain well below their 52-week high of $495.55. Despite several recent target reductions, analysts overall maintain a “Moderate Buy” consensus with an average target of $396.72.
• Institutional ownership is substantial at 92.97%, while a company director recently sold 3,830 shares under a pre-arranged trading plan. Securities-law firms have also announced investigations, adding potential headline risk for investors.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price objective reduced by investment analysts at Truist Financial from $410.00 to $315.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the biopharmaceutical company's stock. Truist Financial's price target points to a potential upside of 45.88% from the stock's previous close.

ALNY has been the subject of a number of other research reports. Sanford C. Bernstein raised Alnylam Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, July 29th. Wall Street Zen lowered shares of Alnylam Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Sunday. Royal Bank Of Canada cut their price objective on Alnylam Pharmaceuticals from $445.00 to $350.00 and set an "outperform" rating on the stock in a research report on Friday. HC Wainwright lowered their target price on shares of Alnylam Pharmaceuticals from $485.00 to $455.00 and set a "buy" rating for the company in a research note on Friday. Finally, Weiss Ratings raised shares of Alnylam Pharmaceuticals from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $396.72.

Alnylam Pharmaceuticals Stock Down 2.0%

Shares of NASDAQ:ALNY traded down $4.40 on Tuesday, reaching $215.93. The company had a trading volume of 644,764 shares, compared to its average volume of 1,390,912. The firm has a market capitalization of $28.89 billion, a PE ratio of 40.14 and a beta of 0.30. Alnylam Pharmaceuticals has a 52-week low of $197.81 and a 52-week high of $495.55. 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 firm's 50 day simple moving average is $286.42 and its 200-day simple moving average is $309.85.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the completion of the sale, the director directly owned 1,582 shares in the company, valued at $473,302.76. This represents a 70.77% decrease in their ownership of the stock. The transaction 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 corporate insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in Alnylam Pharmaceuticals by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 2,650,722 shares of the biopharmaceutical company's stock valued at $1,056,884,000 after buying an additional 151,480 shares in the last quarter. Norges Bank acquired a new position in shares of Alnylam Pharmaceuticals during the 4th quarter worth about $895,816,000. Orbis Allan Gray Ltd lifted its stake in Alnylam Pharmaceuticals by 29.8% in the 2nd quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company's stock valued at $691,771,000 after purchasing an additional 486,489 shares during the last quarter. Legal & General Group Plc raised its stake in Alnylam Pharmaceuticals by 8.3% in the fourth quarter. Legal & General Group Plc now owns 961,496 shares of the biopharmaceutical company's stock valued at $382,339,000 after buying an additional 73,716 shares during the period. Finally, AQR Capital Management LLC raised its stake in Alnylam Pharmaceuticals by 23.6% in the 4th quarter. AQR Capital Management LLC now owns 919,959 shares of the biopharmaceutical company's stock valued at $365,822,000 after acquiring an additional 175,951 shares during the period. Institutional investors own 92.97% of the company's stock.

Trending Headlines about Alnylam Pharmaceuticals

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

• Positive Sentiment: Analyst support remains strong: Raymond James upgraded Alnylam from “outperform” to “strong buy” and set a $420 price target. Chardan Capital also reiterated its “buy” rating. Raymond James analyst action
• Positive Sentiment: Most revised targets still imply substantial upside: Barclays maintained an “overweight” rating with a $450 target despite lowering its estimate from $527. Citigroup retained a “buy” rating while reducing its target from $380 to $340. Analyst price-target revisions
• Neutral Sentiment: Target reductions reflect more cautious valuation assumptions: Wells Fargo cut its target to $316, Stifel lowered its target to $318, and Royal Bank of Canada reduced its target to $350. These firms’ actions point to moderation in expectations, although the targets remain above the recent trading level. Wells Fargo price-target revision Stifel price-target revision RBC price-target revision
• Negative Sentiment: Multiple securities-law firms announced investigations on behalf of investors who lost money in ALNY, including Glancy Prongay Wolke & Rotter, the Law Offices of Frank R. Cruz, and SBS Law. The announcements seek shareholder participation and could increase headline risk, even though no legal violation has been established. Glancy Prongay Wolke investigation Frank R. Cruz investigation

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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