Alnylam Pharmaceuticals (NASDAQ:ALNY – Get Free Report) had its price target decreased by equities research analysts at Barclays from $450.00 to $380.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Barclays‘s price objective indicates a potential upside of 136.30% from the stock’s previous close.
Several other research analysts also recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Alnylam Pharmaceuticals from $230.00 to $260.00 and gave the stock a “hold” rating in a report on Tuesday, September 8th. Wells Fargo & Company dropped their target price on Alnylam Pharmaceuticals from $253.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Friday. TD Cowen reduced their price target on Alnylam Pharmaceuticals from $482.00 to $354.00 and set a “buy” rating for the company in a research report on Friday. Stifel Nicolaus lowered Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating and set a $225.00 price objective on the stock. in a research note on Thursday. Finally, JPMorgan Chase & Co. dropped their price objective on Alnylam Pharmaceuticals from $375.00 to $369.00 and set an “overweight” rating on the stock in a report on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $305.86.
Read Our Latest Research Report on Alnylam Pharmaceuticals
Alnylam Pharmaceuticals Stock Performance
NASDAQ ALNY traded down $4.19 during trading on Monday, hitting $160.81. 2,885,567 shares of the company’s stock traded hands, compared to its average volume of 1,525,674. The stock has a market capitalization of $21.54 billion, a price-to-earnings ratio of 8.34 and a beta of 0.43. Alnylam Pharmaceuticals has a 12-month low of $156.00 and a 12-month high of $479.79. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.43 and a current ratio of 2.48. The business has a 50 day moving average of $236.49 and a 200-day moving average of $286.19.
Alnylam Pharmaceuticals (NASDAQ:ALNY – Get Free Report) last posted its 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. Alnylam Pharmaceuticals had a net margin of 52.85% and a return on equity of 155.33%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the company earned $2.90 earnings per share. The company’s revenue was up 16.7% on a year-over-year basis. As a group, equities research analysts anticipate that Alnylam Pharmaceuticals will post 6.58 earnings per share for the current fiscal year.
Insider Transactions at Alnylam Pharmaceuticals
In other Alnylam Pharmaceuticals news, EVP Bryan Supran sold 1,758 shares of the firm’s stock in a transaction on 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 directly owned 12,807 shares of the company’s stock, valued at $2,905,652.16. This trade represents a 12.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.86% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Alnylam Pharmaceuticals
A number of institutional investors and hedge funds have recently made changes to their positions in ALNY. Legal & General Group Plc purchased a new stake in shares of Alnylam Pharmaceuticals in the 2nd quarter valued at about $278,321,000. Bank of New York Mellon Corp purchased a new position in shares of Alnylam Pharmaceuticals during the second quarter worth about $148,128,000. Canada Pension Plan Investment Board purchased a new position in shares of Alnylam Pharmaceuticals during the second quarter worth about $100,618,000. Korea Investment CORP purchased a new position in shares of Alnylam Pharmaceuticals during the second quarter worth about $74,553,000. Finally, Wellington Management Group LLP increased its position in shares of Alnylam Pharmaceuticals by 9.0% in the second quarter. Wellington Management Group LLP now owns 2,110,407 shares of the biopharmaceutical company’s stock worth $635,296,000 after purchasing an additional 174,482 shares during the last quarter. Hedge funds and other institutional investors own 92.97% of the company’s stock.
Key Headlines Impacting Alnylam Pharmaceuticals
Here are the key news stories impacting Alnylam Pharmaceuticals this week:
- Positive Sentiment: Canaccord Genuity lowered its price target to $323 from $429 but maintained a Buy rating, indicating roughly 100% potential upside based on the cited share price. Canaccord Genuity analyst action
- Positive Sentiment: RBC Capital kept its Buy rating on Alnylam, providing some support amid the broader wave of target reductions. RBC Capital maintains Buy rating
- Neutral Sentiment: Oppenheimer, Chardan Capital, Goldman Sachs, Wells Fargo, and Royal Bank of Canada reportedly trimmed their price targets. The revisions reinforce a more cautious valuation view, but the articles provided do not specify the new targets or rating changes. Oppenheimer price target cut Chardan Capital price target trim Goldman Sachs price target reduction Wells Fargo price target cut RBC price target cut
- Negative Sentiment: Truist downgraded Alnylam from Buy to Hold and cut its price target to $225 from $315. Although the target still implies upside, the downgrade is a direct negative signal for investor sentiment. Truist downgrade and price target cut
- Negative Sentiment: Sanford C. Bernstein cut Alnylam to Market Perform, while Morgan Stanley and TD Cowen issued more pessimistic forecasts. Together with the other target cuts, the actions are likely weighing on the stock. Bernstein Market Perform rating Morgan Stanley forecast TD Cowen forecast
About Alnylam Pharmaceuticals
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.
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