Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $505.00 Price Target at Truist Financial

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price trimmed by Truist Financial from $515.00 to $505.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other equities analysts also recently commented on ALNY. Canaccord Genuity Group upped their price objective on shares of Alnylam Pharmaceuticals from $415.00 to $429.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Needham & Company LLC decreased their price target on shares of Alnylam Pharmaceuticals from $529.00 to $510.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Oppenheimer started coverage on shares of Alnylam Pharmaceuticals in a research note on Wednesday, January 7th. They issued an “outperform” rating and a $500.00 price target on the stock. Chardan Capital restated a “buy” rating and issued a $425.00 price target on shares of Alnylam Pharmaceuticals in a research note on Wednesday, March 25th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $330.00 price target (down from $522.00) on shares of Alnylam Pharmaceuticals in a research note on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $472.78.

Alnylam Pharmaceuticals Price Performance

NASDAQ:ALNY opened at $333.00 on Monday. Alnylam Pharmaceuticals has a one year low of $225.84 and a one year high of $495.55. The company has a market cap of $44.43 billion, a P/E ratio of 194.74 and a beta of 0.39. The firm’s fifty day moving average price is $324.05 and its two-hundred day moving average price is $389.34. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.76 and a quick ratio of 2.71.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data on Thursday, February 12th. The biopharmaceutical company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.18). Alnylam Pharmaceuticals had a net margin of 6.43% and a return on equity of 69.02%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the firm earned ($0.65) earnings per share. Alnylam Pharmaceuticals’s revenue for the quarter was up 84.9% on a year-over-year basis. Equities analysts expect that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, insider Melissa Mclaughlin sold 2,286 shares of the company’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 completion of the sale, the insider owned 9,443 shares of the company’s stock, valued at $3,120,156.06. This represents a 19.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through 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, EVP Kevin Joseph Fitzgerald sold 1,652 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $319.73, for a total transaction of $528,193.96. Following the sale, the executive vice president directly owned 21,860 shares of the company’s stock, valued at $6,989,297.80. This represents a 7.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 38,656 shares of company stock valued at $12,370,696 over the last three months. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC acquired a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at approximately $25,000. MV Capital Management Inc. acquired a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter valued at approximately $25,000. Salomon & Ludwin LLC acquired a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at approximately $27,000. HM Payson & Co. acquired a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter valued at approximately $27,000. Finally, Golden State Wealth Management LLC boosted its stake in shares of Alnylam Pharmaceuticals by 100.0% in the 4th quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 36 shares in the last quarter. Institutional investors own 92.97% of the company’s stock.

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.