Bank of America Cuts Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $410.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target reduced by Bank of America from $460.00 to $410.00 in a report issued on Tuesday,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other analysts have also issued reports on the company. Royal Bank Of Canada reduced their target price on Alnylam Pharmaceuticals from $450.00 to $445.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Morgan Stanley boosted their price target on Alnylam Pharmaceuticals from $370.00 to $400.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. Wall Street Zen cut shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 7th. Truist Financial reduced their price objective on shares of Alnylam Pharmaceuticals from $505.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday. Finally, HC Wainwright raised their target price on shares of Alnylam Pharmaceuticals from $470.00 to $485.00 and gave the company a “buy” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $455.31.

Alnylam Pharmaceuticals Trading Up 1.4%

Shares of ALNY stock opened at $283.15 on Tuesday. The stock has a market cap of $37.80 billion, a P/E ratio of 77.36 and a beta of 0.27. Alnylam Pharmaceuticals has a 1 year low of $273.11 and a 1 year high of $495.55. The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94. The stock has a 50 day simple moving average of $294.71 and a 200 day simple moving average of $321.49.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $1.12. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The company’s revenue was up 96.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.44) EPS. On average, research analysts predict that Alnylam Pharmaceuticals will post 7.26 earnings per share for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In other news, Director David E. I. Pyott sold 3,830 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $299.18, for a total value of $1,145,859.40. Following the sale, the director directly owned 1,582 shares of the company’s stock, valued at approximately $473,302.76. This represents a 70.77% decrease in their position. 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. Corporate insiders own 0.86% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

A number of institutional investors have recently bought and sold shares of ALNY. iA Global Asset Management Inc. lifted its stake in Alnylam Pharmaceuticals by 979.5% in the fourth quarter. iA Global Asset Management Inc. now owns 17,780 shares of the biopharmaceutical company’s stock valued at $7,070,000 after buying an additional 16,133 shares during the period. Perpetual Ltd acquired a new position in shares of Alnylam Pharmaceuticals during the 4th quarter valued at $2,004,000. Linden Advisors LP acquired a new position in shares of Alnylam Pharmaceuticals during the 3rd quarter valued at $6,550,000. Hussman Strategic Advisors Inc. bought a new position in Alnylam Pharmaceuticals during the fourth quarter worth $2,505,000. Finally, Groupama Asset Managment boosted its stake in Alnylam Pharmaceuticals by 160.4% during the third quarter. Groupama Asset Managment now owns 4,032,082 shares of the biopharmaceutical company’s stock worth $18,610,000 after acquiring an additional 2,483,697 shares in the last quarter. 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.