Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Cut to $530.00 by Analysts at Truist Financial

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective lowered by Truist Financial from $535.00 to $530.00 in a research note released on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the biopharmaceutical company’s stock.

Other research analysts also recently issued research reports about the company. Oppenheimer assumed coverage on Alnylam Pharmaceuticals in a research note on Wednesday. They issued an “outperform” rating and a $500.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alnylam Pharmaceuticals in a report on Wednesday, October 8th. Barclays increased their price objective on shares of Alnylam Pharmaceuticals from $460.00 to $527.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Evercore ISI lifted their target price on shares of Alnylam Pharmaceuticals from $280.00 to $515.05 and gave the company an “outperform” rating in a research note on Thursday, September 11th. Finally, Bank of America increased their price target on Alnylam Pharmaceuticals from $453.00 to $520.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Twenty-two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Alnylam Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $484.21.

Alnylam Pharmaceuticals Trading Down 5.5%

NASDAQ:ALNY opened at $399.40 on Thursday. The company has a debt-to-equity ratio of 4.45, a current ratio of 2.54 and a quick ratio of 2.49. The firm has a market capitalization of $52.77 billion, a price-to-earnings ratio of 1,664.17 and a beta of 0.32. Alnylam Pharmaceuticals has a one year low of $205.87 and a one year high of $495.55. The business has a fifty day moving average price of $426.88 and a 200-day moving average price of $419.29.

Insider Activity

In related news, CEO Yvonne Greenstreet sold 10,000 shares of Alnylam Pharmaceuticals stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $451.27, for a total transaction of $4,512,700.00. Following the completion of the transaction, the chief executive officer directly owned 65,409 shares of the company’s stock, valued at approximately $29,517,119.43. The trade was a 13.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 12,128 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $452.18, for a total transaction of $5,484,039.04. Following the completion of the sale, the executive vice president directly owned 21,264 shares in the company, valued at $9,615,155.52. This trade represents a 36.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 37,778 shares of company stock valued at $17,096,988 in the last 90 days. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. NorthCrest Asset Manangement LLC boosted its stake in shares of Alnylam Pharmaceuticals by 8.0% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 1,733 shares of the biopharmaceutical company’s stock valued at $689,000 after purchasing an additional 128 shares during the period. Wedmont Private Capital lifted its holdings in Alnylam Pharmaceuticals by 5.5% during the 4th quarter. Wedmont Private Capital now owns 1,113 shares of the biopharmaceutical company’s stock valued at $470,000 after buying an additional 58 shares in the last quarter. Nordea Investment Management AB boosted its position in Alnylam Pharmaceuticals by 3.0% in the 4th quarter. Nordea Investment Management AB now owns 12,855 shares of the biopharmaceutical company’s stock valued at $5,117,000 after buying an additional 374 shares during the period. Everpar Advisors LLC grew its stake in Alnylam Pharmaceuticals by 6.3% in the 4th quarter. Everpar Advisors LLC now owns 620 shares of the biopharmaceutical company’s stock worth $247,000 after acquiring an additional 37 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Alnylam Pharmaceuticals by 8.5% during the fourth quarter. GAMMA Investing LLC now owns 893 shares of the biopharmaceutical company’s stock worth $355,000 after acquiring an additional 70 shares during the period. Hedge funds and other institutional investors own 92.97% of the company’s stock.

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.