Morgan Stanley Forecasts Strong Price Appreciation for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target upped by Morgan Stanley from $370.00 to $400.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s target price suggests a potential upside of 28.36% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group reiterated a “hold” rating and set a $330.00 target price (down from $522.00) on shares of Alnylam Pharmaceuticals in a research report on Monday, March 16th. Chardan Capital reaffirmed a “buy” rating and issued a $425.00 price target on shares of Alnylam Pharmaceuticals in a research note on Wednesday, March 25th. Wells Fargo & Company increased their target price on shares of Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Truist Financial cut their price target on shares of Alnylam Pharmaceuticals from $515.00 to $505.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Finally, Weiss Ratings upgraded Alnylam Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $461.05.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ:ALNY opened at $311.63 on Friday. The company has a 50 day moving average of $296.32 and a 200 day moving average of $325.69. The stock has a market cap of $41.61 billion, a P/E ratio of 85.20 and a beta of 0.27. Alnylam Pharmaceuticals has a 12 month low of $273.11 and a 12 month high of $495.55. The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $1.12. Alnylam Pharmaceuticals had a net margin of 11.72% and a return on equity of 85.76%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the firm posted ($0.44) EPS. Alnylam Pharmaceuticals’s revenue was up 96.4% on a year-over-year basis. As a group, sell-side analysts forecast that Alnylam Pharmaceuticals will post 7.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the sale, the director directly owned 1,582 shares in the company, valued at approximately $473,302.76. This trade represents a 70.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.86% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

A number of large investors have recently made changes to their positions in ALNY. First Horizon Corp raised its holdings in Alnylam Pharmaceuticals by 20.7% during the 4th quarter. First Horizon Corp now owns 163 shares of the biopharmaceutical company’s stock valued at $65,000 after buying an additional 28 shares during the period. Yousif Capital Management LLC increased its stake in Alnylam Pharmaceuticals by 1.8% in the 4th quarter. Yousif Capital Management LLC now owns 1,676 shares of the biopharmaceutical company’s stock worth $666,000 after buying an additional 29 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Alnylam Pharmaceuticals by 0.3% during the second quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company’s stock worth $4,220,000 after acquiring an additional 35 shares during the period. Golden State Wealth Management LLC raised its position in Alnylam Pharmaceuticals by 100.0% during the 4th quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 36 shares in the last quarter. Finally, Everpar Advisors LLC raised its holdings in shares of Alnylam Pharmaceuticals by 6.3% in the fourth quarter. Everpar Advisors LLC now owns 620 shares of the biopharmaceutical company’s stock valued at $247,000 after acquiring an additional 37 shares in the last quarter. 92.97% of the stock is currently owned by institutional investors.

Key Headlines Impacting Alnylam Pharmaceuticals

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

• Positive Sentiment: A late-stage trial failure for AstraZeneca and Ionis’s ATTR-CM drug has improved the outlook for Alnylam’s core TTR franchise, potentially reducing competitive pressure in a key market. AstraZeneca Stock and Partner Ionis Sink After Trial Failure. Alnylam Soars.
• Positive Sentiment: Market commentary has framed Alnylam as one of the biotech sector’s standout names, with reports highlighting strong premarket momentum and investor enthusiasm following the rival setback. S&P 500 Futures Climb in Premarket Trading; Alnylam Pharmaceuticals, BridgeBio Pharma Lead
• Positive Sentiment: Analysts noted the AstraZeneca/Ionis trial failure could be an overreaction by the market, which supports the idea that Alnylam may benefit from improved relative positioning in ATTR. AZ, Ionis shares tumble on ATTR-CM trial flop, but analyst flags over-reaction
• Neutral Sentiment: General biotech-sector strength also helped sentiment, with Jim Cramer calling biotech “the hottest group in the market right now,” adding a favorable backdrop for Alnylam. Jim Cramer Says Biotech is The Hottest Group in The Market Right Now
• Neutral Sentiment: One article discussed Alnylam as a top pharmaceutical stock to watch, but it did not introduce new company-specific news. Top Pharmaceutical Stocks To Follow Now – July 9th

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.