Truist Financial Lowers Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $505.00

Key Points

• Truist Financial trimmed its price target on Alnylam from $515 to $505 but maintained a "buy" rating, implying roughly a 54.4% upside from the current share price.
• Alnylam missed quarterly expectations (EPS $1.25 vs. $1.43 est., revenue $1.10B vs. $1.16B) despite revenue rising 84.9% year-over-year, and the stock trades around $327 with analysts' consensus a "Moderate Buy" and an average price target of $472.78.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price target reduced by equities research analysts at Truist Financial from $515.00 to $505.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the biopharmaceutical company's stock. Truist Financial's target price suggests a potential upside of 54.40% from the company's current price.

A number of other analysts have also recently commented on the company. Royal Bank Of Canada lowered their price target on Alnylam Pharmaceuticals from $500.00 to $465.00 and set an "outperform" rating for the company in a research report on Tuesday, January 20th. Chardan Capital reiterated a "buy" rating and set a $425.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Wednesday, March 25th. Morgan Stanley reduced their price objective on Alnylam Pharmaceuticals from $495.00 to $408.00 and set an "equal weight" rating for the company in a research note on Friday, January 30th. Oppenheimer began coverage on Alnylam Pharmaceuticals in a research note on Wednesday, January 7th. They set an "outperform" rating and a $500.00 price objective for the company. Finally, Needham & Company LLC reduced their price objective on Alnylam Pharmaceuticals from $529.00 to $510.00 and set a "buy" rating for the company in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $472.78.

Alnylam Pharmaceuticals Stock Up 1.5%

Shares of Alnylam Pharmaceuticals stock traded up $4.95 during trading on Monday, reaching $327.06. The company's stock had a trading volume of 354,650 shares, compared to its average volume of 1,338,165. The company has a quick ratio of 2.71, a current ratio of 2.76 and a debt-to-equity ratio of 1.28. The company has a market cap of $43.64 billion, a price-to-earnings ratio of 191.20 and a beta of 0.39. Alnylam Pharmaceuticals has a 1-year low of $225.84 and a 1-year high of $495.55. The company has a 50-day simple moving average of $324.17 and a two-hundred day simple moving average of $390.16.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The biopharmaceutical company reported $1.25 earnings per share for the quarter, missing analysts' consensus estimates of $1.43 by ($0.18). Alnylam Pharmaceuticals had a return on equity of 69.02% and a net margin of 6.43%.The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business earned ($0.65) EPS. The firm's revenue for the quarter was up 84.9% compared to the same quarter last year. As a group, equities analysts forecast that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, insider Melissa Mclaughlin sold 2,286 shares of the business's stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $330.42, for a total transaction of $755,340.12. Following the completion of the sale, the insider directly owned 9,443 shares in the company, valued at approximately $3,120,156.06. The trade was a 19.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Kevin Joseph Fitzgerald sold 1,652 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $319.73, for a total value of $528,193.96. Following the sale, the executive vice president owned 21,860 shares of the company's stock, valued at approximately $6,989,297.80. This trade represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 40,946 shares of company stock worth $13,218,751 in the last quarter. Corporate insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Large investors have recently made changes to their positions in the stock. Brighton Jones LLC acquired a new position in Alnylam Pharmaceuticals in the fourth quarter valued at approximately $243,000. Geneos Wealth Management Inc. lifted its holdings in Alnylam Pharmaceuticals by 372.3% in the first quarter. Geneos Wealth Management Inc. now owns 222 shares of the biopharmaceutical company's stock valued at $60,000 after acquiring an additional 175 shares during the last quarter. Flow Traders U.S. LLC acquired a new position in Alnylam Pharmaceuticals in the second quarter valued at approximately $241,000. Daiwa Securities Group Inc. lifted its holdings in Alnylam Pharmaceuticals by 0.3% in the second quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company's stock valued at $4,220,000 after acquiring an additional 35 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Alnylam Pharmaceuticals by 70,300.0% in the second quarter. NewEdge Advisors LLC now owns 704 shares of the biopharmaceutical company's stock valued at $229,000 after acquiring an additional 703 shares during the last quarter. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

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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