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

Key Points

• Truist Financial has raised its price target for Alnylam Pharmaceuticals' stock from $459.00 to $535.00, maintaining a "buy" rating, indicating a potential upside of 9.42%.
• Several analysts have also increased their price targets for Alnylam, with Piper Sandler raising it to $449.00 and Royal Bank Of Canada to $500.00, reflecting growing confidence in the stock.
• Alnylam recently reported earnings that exceeded expectations, with a revenue of $773.69 million for the quarter, surpassing analyst estimates of $633.54 million.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price objective raised by investment analysts at Truist Financial from $459.00 to $535.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the biopharmaceutical company's stock. Truist Financial's target price indicates a potential upside of 9.42% from the company's current price.

Several other analysts have also recently weighed in on ALNY. Piper Sandler lifted their price target on shares of Alnylam Pharmaceuticals from $304.00 to $449.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Raymond James Financial started coverage on shares of Alnylam Pharmaceuticals in a report on Wednesday, July 30th. They set an "outperform" rating and a $370.00 target price on the stock. Royal Bank Of Canada lifted their price target on Alnylam Pharmaceuticals from $435.00 to $500.00 and gave the stock an "outperform" rating in a research report on Friday, September 19th. Bank of America boosted their target price on Alnylam Pharmaceuticals from $453.00 to $520.00 and gave the stock a "buy" rating in a research report on Wednesday, September 17th. Finally, Wells Fargo & Company boosted their price objective on Alnylam Pharmaceuticals from $333.00 to $395.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Twenty-four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Alnylam Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $463.08.

Alnylam Pharmaceuticals Stock Performance

NASDAQ:ALNY traded up $7.86 on Friday, reaching $488.93. 47,782 shares of the company's stock were exchanged, compared to its average volume of 984,017. The stock has a fifty day simple moving average of $455.04 and a 200-day simple moving average of $350.64. The company has a debt-to-equity ratio of 4.10, a current ratio of 2.80 and a quick ratio of 2.75. Alnylam Pharmaceuticals has a 52 week low of $205.87 and a 52 week high of $489.85. The firm has a market cap of $64.09 billion, a price-to-earnings ratio of -197.59 and a beta of 0.36.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of ($0.54) by $0.86. The company had revenue of $773.69 million during the quarter, compared to analyst estimates of $633.54 million. Alnylam Pharmaceuticals had a negative net margin of 12.96% and a negative return on equity of 273.52%. Alnylam Pharmaceuticals's revenue was up 17.3% compared to the same quarter last year. During the same period last year, the business earned ($0.13) earnings per share. Alnylam Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Activity at Alnylam Pharmaceuticals

In other news, EVP Jeffrey V. Poulton sold 3,821 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $452.05, for a total value of $1,727,283.05. Following the sale, the executive vice president directly owned 54,052 shares of the company's stock, valued at $24,434,206.60. The trade was a 6.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael W. Bonney sold 11,250 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $450.00, for a total value of $5,062,500.00. Following the completion of the sale, the director directly owned 16,804 shares in the company, valued at $7,561,800. This represents a 40.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 98,144 shares of company stock valued at $44,160,261 in the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Alnylam Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Hilltop National Bank purchased a new stake in Alnylam Pharmaceuticals in the 3rd quarter valued at $41,000. Atlantic Union Bankshares Corp purchased a new stake in Alnylam Pharmaceuticals in the 2nd quarter valued at $30,000. SVB Wealth LLC acquired a new position in shares of Alnylam Pharmaceuticals in the 1st quarter valued at $27,000. Bessemer Group Inc. lifted its stake in shares of Alnylam Pharmaceuticals by 176.9% in the 1st quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 69 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Alnylam Pharmaceuticals in the 2nd quarter valued at $37,000. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.

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