Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Gets Price Target Trim from Citigroup

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target decreased by Citigroup from $340.00 to $320.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Citigroup’s target price would indicate a potential upside of 42.01% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. cut their price objective on shares of Alnylam Pharmaceuticals from $375.00 to $369.00 and set an “overweight” rating on the stock in a report on Wednesday, September 30th. BMO Capital Markets reissued an “outperform” rating on shares of Alnylam Pharmaceuticals in a report on Monday, August 31st. Needham & Company LLC dropped their target price on Alnylam Pharmaceuticals from $510.00 to $357.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Truist Financial reduced their price target on Alnylam Pharmaceuticals from $410.00 to $315.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Finally, Jefferies Financial Group raised their target price on shares of Alnylam Pharmaceuticals from $230.00 to $260.00 and gave the stock a “hold” rating in a research report on Tuesday, September 8th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $365.50.

Alnylam Pharmaceuticals Trading Up 0.7%

Shares of Alnylam Pharmaceuticals stock traded up $1.51 on Wednesday, hitting $225.33. 424,065 shares of the company’s stock traded hands, compared to its average volume of 1,437,086. The company has a market capitalization of $30.15 billion, a price-to-earnings ratio of 41.78 and a beta of 0.28. The company has a fifty day moving average of $238.83 and a two-hundred day moving average of $275.95. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.05 and a quick ratio of 2.99. Alnylam Pharmaceuticals has a one year low of $197.81 and a one year high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.63 by $0.21. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm posted ($0.51) EPS. The company’s quarterly revenue was up 66.9% on a year-over-year basis. As a group, sell-side analysts expect that Alnylam Pharmaceuticals will post 6.68 earnings per share for the current year.

Insider Activity

In related news, EVP Bryan Supran sold 1,758 shares of the stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $226.88, for a total value of $398,855.04. Following the completion of the transaction, the executive vice president owned 12,807 shares of the company’s stock, valued at approximately $2,905,652.16. This trade represents a 12.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.86% of the stock is owned by company insiders.

Institutional Trading of Alnylam Pharmaceuticals

A number of large investors have recently made changes to their positions in ALNY. MV Capital Management Inc. bought a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter valued at about $25,000. Toth Financial Advisory Corp purchased a new stake in shares of Alnylam Pharmaceuticals during the third quarter valued at $25,000. Titan Wealth CI Ltd purchased a new position in shares of Alnylam Pharmaceuticals during the 4th quarter valued at about $42,000. SHP Wealth Management purchased a new position in shares of Alnylam Pharmaceuticals during the 4th quarter valued at approximately $43,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in shares of Alnylam Pharmaceuticals in the 2nd quarter valued at about $42,000. 92.97% of the stock is owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines based on RNA interference (RNAi), a biological process that can selectively reduce the production of disease-causing proteins. The company was founded in 2002 and is headquartered in Cambridge, Massachusetts.

Alnylam’s commercial products include ONPATTRO (patisiran), an RNAi therapy for hereditary transthyretin-mediated amyloidosis with polyneuropathy; GIVLAARI (givosiran), for acute hepatic porphyria; OXLUMO (lumasiran), for primary hyperoxaluria type 1; and AMVUTTRA (vutrisiran), for transthyretin-mediated amyloidosis.