Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Gets Price Target Reduction from Canaccord Genuity Group

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price reduced by Canaccord Genuity Group from $429.00 to $323.00 in a report released on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research analysts have also weighed in on ALNY. Oppenheimer dropped their target price on Alnylam Pharmaceuticals from $350.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, October 30th. Barclays decreased their price target on Alnylam Pharmaceuticals from $527.00 to $450.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Chardan Capital lowered their price target on Alnylam Pharmaceuticals from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Friday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of Alnylam Pharmaceuticals in a research note on Thursday, October 29th. Finally, Bank of America reaffirmed a “buy” rating and set a $287.00 price objective (down from $460.00) on shares of Alnylam Pharmaceuticals in a report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Alnylam Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $305.86.

Alnylam Pharmaceuticals Trading Up 0.7%

NASDAQ:ALNY opened at $161.08 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.48 and a quick ratio of 2.43. Alnylam Pharmaceuticals has a one year low of $156.00 and a one year high of $479.79. The company has a market cap of $21.58 billion, a PE ratio of 8.36 and a beta of 0.42. The firm has a 50-day moving average of $231.83 and a 200-day moving average of $283.11.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported $16.26 earnings per share for the quarter, beating the consensus estimate of $1.66 by $14.60. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Alnylam Pharmaceuticals had a net margin of 52.85% and a return on equity of 155.33%. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.90 EPS. As a group, equities research analysts expect that Alnylam Pharmaceuticals will post 6.98 EPS for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

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 transaction of $398,855.04. Following the completion of the transaction, the executive vice president owned 12,807 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 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 Trading of Alnylam Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc purchased a new position in Alnylam Pharmaceuticals in the second quarter valued at about $278,321,000. Bank of New York Mellon Corp bought a new stake in shares of Alnylam Pharmaceuticals in the 2nd quarter worth approximately $148,128,000. Canada Pension Plan Investment Board purchased a new position in Alnylam Pharmaceuticals in the second quarter valued at approximately $100,618,000. Korea Investment CORP bought a new position in Alnylam Pharmaceuticals during the second quarter valued at $74,553,000. Finally, Pictet Asset Management Holding SA grew its holdings in Alnylam Pharmaceuticals by 77.7% during the third quarter. Pictet Asset Management Holding SA now owns 495,168 shares of the biopharmaceutical company’s stock valued at $122,783,000 after purchasing an additional 216,555 shares during the period. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Trending Headlines about Alnylam Pharmaceuticals

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

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.