Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Gets Price Target Reduction from Barclays

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price lowered by Barclays from $450.00 to $380.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. dropped their price target on Alnylam Pharmaceuticals from $375.00 to $369.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 30th. Raymond James Financial cut shares of Alnylam Pharmaceuticals from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $420.00 to $315.00 in a research note on Friday, October 30th. Needham & Company LLC dropped their price target on shares of Alnylam Pharmaceuticals from $357.00 to $243.00 and set a “buy” rating on the stock in a report on Thursday, October 29th. BMO Capital Markets reissued an “outperform” rating and set a $290.00 price objective on shares of Alnylam Pharmaceuticals in a report on Friday, October 30th. Finally, Oppenheimer lowered their price objective on shares of Alnylam Pharmaceuticals from $350.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $305.86.

Alnylam Pharmaceuticals Trading Up 0.7%

NASDAQ ALNY opened at $161.08 on Monday. The company has a quick ratio of 2.43, a current ratio of 2.48 and a debt-to-equity ratio of 0.18. Alnylam Pharmaceuticals has a twelve month low of $156.00 and a twelve month high of $479.79. The firm has a market capitalization of $21.58 billion, a PE ratio of 8.36 and a beta of 0.42. The stock’s 50 day moving average is $231.83 and its 200 day moving average is $283.11.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported $16.26 earnings per share for the quarter, topping the consensus estimate of $1.66 by $14.60. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Alnylam Pharmaceuticals had a return on equity of 155.33% and a net margin of 52.85%. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.90 earnings per share. Research analysts forecast that Alnylam Pharmaceuticals will post 6.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, EVP Bryan Supran sold 1,758 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $226.88, for a total value of $398,855.04. Following the transaction, the executive vice president owned 12,807 shares of the company’s stock, valued at approximately $2,905,652.16. This represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Toth Financial Advisory Corp purchased a new stake in shares of Alnylam Pharmaceuticals during the 3rd quarter valued at about $25,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Alnylam Pharmaceuticals in the second quarter worth approximately $42,000. Burkett Financial Services LLC bought a new stake in Alnylam Pharmaceuticals during the third quarter valued at approximately $37,000. CoreCap Advisors LLC grew its position in Alnylam Pharmaceuticals by 744.4% during the third quarter. CoreCap Advisors LLC now owns 152 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 134 shares during the period. Finally, Ascentis Independent Advisors purchased a new stake in Alnylam Pharmaceuticals during the first quarter valued at approximately $64,000. 92.97% of the stock is owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals News Roundup

Here are the key news stories impacting Alnylam Pharmaceuticals this week:

• Positive Sentiment: The board authorized a $1 billion share repurchase program. The buyback signals confidence in Alnylam’s prospects and may support the stock by reducing shares outstanding over time. The company also announced a transition in commercial leadership as it enters its next growth phase; no further details were included in the announcement. Alnylam announces share repurchase and commercial leadership change
• Positive Sentiment: Alnylam plans to present five-year HELIOS-B data and additional clinical and real-world evidence on AMVUTTRA (vutrisiran) at upcoming AHA and ISA meetings. Further evidence could reinforce the treatment’s clinical profile, though the announcement itself did not provide new results. Alnylam to present HELIOS-B data
• Neutral Sentiment: Alnylam also scheduled a webcast presentation at the Jefferies Global Healthcare Conference. The notice did not disclose new business or clinical developments. Alnylam conference webcast notice
• Negative Sentiment: Several analysts lowered their expectations: Raymond James cut its rating from Strong Buy to Outperform, Bernstein moved from Outperform to Market Perform, and reports cited lower forecasts from Barclays and Canaccord Genuity. These actions may weigh on sentiment, despite the buyback announcement. Raymond James rating change Bernstein rating change Barclays forecast report Canaccord forecast report

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines based on RNA interference (RNAi). The company’s therapies are designed to silence specific genes involved in disease, with the goal of addressing the underlying causes of genetic and other serious conditions.

Alnylam’s marketed products include ONPATTRO (patisiran) and AMVUTTRA (vutrisiran) for hereditary transthyretin-mediated amyloidosis, GIVLAARI (givosiran) for acute hepatic porphyria, and OXLUMO (lumasiran) for primary hyperoxaluria type 1.