Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Cut to $315.00 by Analysts at Truist Financial

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price decreased by Truist Financial from $410.00 to $315.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s target price points to a potential upside of 45.88% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Wall Street Zen downgraded shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Sunday. Stifel Nicolaus lowered their price objective on shares of Alnylam Pharmaceuticals from $444.00 to $318.00 and set a “buy” rating on the stock in a report on Friday. Royal Bank Of Canada dropped their price objective on shares of Alnylam Pharmaceuticals from $445.00 to $350.00 and set an “outperform” rating on the stock in a research note on Friday. Barclays reduced their price objective on shares of Alnylam Pharmaceuticals from $527.00 to $450.00 and set an “overweight” rating for the company in a report on Monday. Finally, Weiss Ratings raised shares of Alnylam Pharmaceuticals from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $396.72.

Alnylam Pharmaceuticals Trading Down 2.0%

Shares of NASDAQ:ALNY traded down $4.40 during midday trading on Tuesday, reaching $215.93. The company’s stock had a trading volume of 644,764 shares, compared to its average volume of 1,390,912. The firm has a 50 day moving average price of $286.42 and a two-hundred day moving average price of $309.85. Alnylam Pharmaceuticals has a fifty-two week low of $197.81 and a fifty-two week high of $495.55. The firm has a market capitalization of $28.89 billion, a price-to-earnings ratio of 40.14 and a beta of 0.30. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.06 and a current ratio of 3.13.

Insider Activity at Alnylam Pharmaceuticals

In other news, Director David E. I. Pyott sold 3,830 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director directly owned 1,582 shares of the company’s stock, valued at approximately $473,302.76. This trade represents a 70.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is currently owned by corporate insiders.

Institutional Trading of Alnylam Pharmaceuticals

A number of hedge funds have recently modified their holdings of ALNY. Assenagon Asset Management S.A. grew its stake in shares of Alnylam Pharmaceuticals by 20.8% in the second quarter. Assenagon Asset Management S.A. now owns 155,695 shares of the biopharmaceutical company’s stock worth $46,869,000 after acquiring an additional 26,799 shares during the last quarter. Parallel Advisors LLC grew its position in Alnylam Pharmaceuticals by 7.9% during the 1st quarter. Parallel Advisors LLC now owns 891 shares of the biopharmaceutical company’s stock valued at $295,000 after purchasing an additional 65 shares during the last quarter. Glenmede Trust Co. NA increased its stake in Alnylam Pharmaceuticals by 8.3% during the 1st quarter. Glenmede Trust Co. NA now owns 731 shares of the biopharmaceutical company’s stock valued at $242,000 after purchasing an additional 56 shares in the last quarter. Groupama Asset Managment grew its holdings in shares of Alnylam Pharmaceuticals by 2.5% during the first quarter. Groupama Asset Managment now owns 36,767 shares of the biopharmaceutical company’s stock valued at $12,165,000 after buying an additional 889 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of Alnylam Pharmaceuticals during the first quarter valued at approximately $641,000. Institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals News Summary

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

• Positive Sentiment: Analyst support remains strong: Raymond James upgraded Alnylam from “outperform” to “strong buy” and set a $420 price target. Chardan Capital also reiterated its “buy” rating. Raymond James analyst action
• Positive Sentiment: Most revised targets still imply substantial upside: Barclays maintained an “overweight” rating with a $450 target despite lowering its estimate from $527. Citigroup retained a “buy” rating while reducing its target from $380 to $340. Analyst price-target revisions
• Neutral Sentiment: Target reductions reflect more cautious valuation assumptions: Wells Fargo cut its target to $316, Stifel lowered its target to $318, and Royal Bank of Canada reduced its target to $350. These firms’ actions point to moderation in expectations, although the targets remain above the recent trading level. Wells Fargo price-target revision Stifel price-target revision RBC price-target revision
• Negative Sentiment: Multiple securities-law firms announced investigations on behalf of investors who lost money in ALNY, including Glancy Prongay Wolke & Rotter, the Law Offices of Frank R. Cruz, and SBS Law. The announcements seek shareholder participation and could increase headline risk, even though no legal violation has been established. Glancy Prongay Wolke investigation Frank R. Cruz investigation

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.