Bank of America Issues Pessimistic Forecast for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective reduced by Bank of America from $460.00 to $410.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s target price suggests a potential upside of 45.45% from the company’s current price.

Several other analysts have also commented on ALNY. HC Wainwright increased their price objective on Alnylam Pharmaceuticals from $470.00 to $485.00 and gave the company a “buy” rating in a report on Monday. Chardan Capital restated a “buy” rating and set a $425.00 target price on shares of Alnylam Pharmaceuticals in a research note on Wednesday, March 25th. Wall Street Zen lowered Alnylam Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 7th. Royal Bank Of Canada decreased their price target on Alnylam Pharmaceuticals from $450.00 to $445.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Finally, Truist Financial lowered their price target on Alnylam Pharmaceuticals from $505.00 to $410.00 and set a “buy” rating for the company in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $455.31.

Alnylam Pharmaceuticals Stock Down 2.1%

Shares of NASDAQ ALNY traded down $6.17 during trading hours on Tuesday, hitting $281.88. 111,178 shares of the stock were exchanged, compared to its average volume of 1,296,914. The company has a quick ratio of 3.06, a current ratio of 3.13 and a debt-to-equity ratio of 0.94. The company has a market cap of $37.63 billion, a PE ratio of 76.64 and a beta of 0.27. The firm has a fifty day moving average price of $295.84 and a 200-day moving average price of $324.14. Alnylam Pharmaceuticals has a 12 month low of $273.11 and a 12 month high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $1.12. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Alnylam Pharmaceuticals had a net margin of 11.72% and a return on equity of 85.76%. Alnylam Pharmaceuticals’s revenue for the quarter was up 96.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.44) earnings per share. On average, sell-side analysts expect that Alnylam Pharmaceuticals will post 7.29 EPS for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, Director David E. I. Pyott sold 3,830 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $299.18, for a total value of $1,145,859.40. Following the transaction, the director directly owned 1,582 shares of the company’s stock, valued at $473,302.76. This represents a 70.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is owned by company insiders.

Institutional Trading of Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALNY. MV Capital Management Inc. purchased a new stake in Alnylam Pharmaceuticals during the 4th quarter valued at about $25,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Alnylam Pharmaceuticals in the third quarter worth about $29,000. HM Payson & Co. purchased a new position in shares of Alnylam Pharmaceuticals in the fourth quarter worth about $27,000. Golden State Wealth Management LLC lifted its holdings in shares of Alnylam Pharmaceuticals by 100.0% during the fourth 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 during the period. Finally, Manchester Capital Management LLC lifted its holdings in shares of Alnylam Pharmaceuticals by 600.0% during the fourth quarter. Manchester Capital Management LLC now owns 84 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 72 shares during the period. Institutional investors and hedge funds 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.