Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price Target Lowered at Citigroup

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target decreased by research analysts at Citigroup from $340.00 to $320.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Citigroup’s target price indicates a potential upside of 42.01% from the stock’s previous close.

A number of other analysts have also recently issued reports on the stock. TD Cowen restated a “buy” rating on shares of Alnylam Pharmaceuticals in a research note on Monday, August 31st. Bank of America reduced their price objective on Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. Barclays decreased their price objective on Alnylam Pharmaceuticals from $527.00 to $450.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Weiss Ratings upgraded Alnylam Pharmaceuticals from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. dropped their target price on Alnylam Pharmaceuticals from $375.00 to $369.00 and set an “overweight” rating for the company in a report on Wednesday, September 30th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $365.50.

Alnylam Pharmaceuticals Price Performance

Shares of Alnylam Pharmaceuticals stock traded up $1.51 during mid-day trading on Wednesday, reaching $225.33. 424,065 shares of the stock were exchanged, compared to its average volume of 1,437,086. The company has a market cap of $30.15 billion, a price-to-earnings ratio of 41.78 and a beta of 0.28. The company has a current ratio of 3.05, a quick ratio of 2.99 and a debt-to-equity ratio of 0.75. The firm has a 50-day simple moving average of $238.83 and a 200 day simple moving average of $275.95. Alnylam Pharmaceuticals has a fifty-two week low of $197.81 and a fifty-two week high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share 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 analysts’ expectations of $1.32 billion. During the same period last year, the business earned ($0.51) EPS. The business’s quarterly revenue was up 66.9% on a year-over-year basis. On average, sell-side analysts predict that Alnylam Pharmaceuticals will post 6.68 EPS for the current fiscal year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, EVP Bryan Supran sold 1,758 shares of the firm’s 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 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 transaction was disclosed in a 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. 0.86% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Large investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its holdings in Alnylam Pharmaceuticals by 9.0% during the 2nd quarter. Wellington Management Group LLP now owns 2,110,407 shares of the biopharmaceutical company’s stock worth $635,296,000 after buying an additional 174,482 shares during the period. Legal & General Group Plc acquired a new stake in shares of Alnylam Pharmaceuticals in the second quarter valued at about $278,321,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Alnylam Pharmaceuticals by 7.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,848 shares of the biopharmaceutical company’s stock worth $219,104,000 after acquiring an additional 50,329 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Alnylam Pharmaceuticals during the second quarter worth about $148,128,000. Finally, Swiss National Bank boosted its holdings in Alnylam Pharmaceuticals by 7.9% in the first quarter. Swiss National Bank now owns 387,720 shares of the biopharmaceutical company’s stock valued at $128,285,000 after acquiring an additional 28,520 shares during the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

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.