Wall Street Zen Downgrades Alnylam Pharmaceuticals (NASDAQ:ALNY) to Buy

Key Points

• Wall Street Zen downgraded Alnylam Pharmaceuticals from strong-buy to buy, though the broader analyst view remains positive with a Moderate Buy consensus and a $463.13 average target price.
• Alnylam recently reported better-than-expected Q1 results, posting EPS of $1.99 versus estimates of $0.87 and revenue of $1.17 billion, up 96.4% year over year.
• Despite strong fundamentals, the stock was trading well below its recent highs, opening at $278.09 versus a 52-week high of $495.55, while insiders also sold shares in recent months.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Sunday.

Several other equities research analysts have also recently issued reports on the stock. Truist Financial cut their price objective on shares of Alnylam Pharmaceuticals from $515.00 to $505.00 and set a "buy" rating for the company in a research report on Monday, April 13th. Chardan Capital reiterated a "buy" rating and issued a $425.00 target price on shares of Alnylam Pharmaceuticals in a report on Wednesday, March 25th. Weiss Ratings upgraded shares of Alnylam Pharmaceuticals from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, May 4th. HC Wainwright reaffirmed a "buy" rating and set a $510.00 price target on shares of Alnylam Pharmaceuticals in a research report on Thursday, June 4th. Finally, Wells Fargo & Company upped their price objective on Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the company an "equal weight" rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $463.13.

Alnylam Pharmaceuticals Stock Performance

NASDAQ ALNY opened at $278.09 on Friday. The stock's fifty day moving average is $300.18 and its two-hundred day moving average is $338.11. The firm has a market capitalization of $37.13 billion, a P/E ratio of 75.98 and a beta of 0.29. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.06 and a current ratio of 3.13. Alnylam Pharmaceuticals has a fifty-two week low of $273.11 and a fifty-two week high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $1.12. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the company earned ($0.44) EPS. The company's revenue for the quarter was up 96.4% on a year-over-year basis. On average, research analysts anticipate that Alnylam Pharmaceuticals will post 7.47 earnings per share for the current year.

Insider Activity

In other Alnylam Pharmaceuticals news, insider Melissa Mclaughlin sold 2,286 shares of the business's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $330.42, for a total transaction of $755,340.12. Following the sale, the insider directly owned 9,443 shares in the company, valued at $3,120,156.06. This represents a 19.49% decrease in their ownership of the stock. The sale was disclosed in a document filed 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director David E. I. Pyott sold 3,830 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 7,740 shares of company stock worth $2,420,214. 0.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. MV Capital Management Inc. purchased a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter worth $25,000. HM Payson & Co. purchased a new position in Alnylam Pharmaceuticals in the fourth quarter valued at $27,000. Golden State Wealth Management LLC grew its stake in Alnylam Pharmaceuticals by 100.0% during the 4th 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 in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Alnylam Pharmaceuticals in the 3rd quarter valued at about $29,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at about $32,000. 92.97% of the stock is currently owned by institutional investors and hedge funds.

About Alnylam Pharmaceuticals

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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