Truist Financial Cuts Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $530.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective decreased by Truist Financial from $535.00 to $530.00 in a research note released on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently weighed in on the company. Royal Bank Of Canada increased their price objective on Alnylam Pharmaceuticals from $435.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Leerink Partners dropped their price target on Alnylam Pharmaceuticals from $370.00 to $351.00 and set a “market perform” rating for the company in a research note on Monday, December 15th. The Goldman Sachs Group boosted their price objective on shares of Alnylam Pharmaceuticals from $504.00 to $566.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Oppenheimer began coverage on shares of Alnylam Pharmaceuticals in a research report on Wednesday. They issued an “outperform” rating and a $500.00 target price for the company. Finally, Wall Street Zen upgraded shares of Alnylam Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 10th. Twenty-two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $484.21.

Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ:ALNY opened at $398.29 on Thursday. The company has a current ratio of 2.54, a quick ratio of 2.49 and a debt-to-equity ratio of 4.45. The company has a 50-day moving average price of $425.72 and a 200-day moving average price of $420.55. The company has a market cap of $52.62 billion, a price-to-earnings ratio of 1,659.54 and a beta of 0.32. Alnylam Pharmaceuticals has a 12 month low of $205.87 and a 12 month high of $495.55.

Insider Buying and Selling

In related news, EVP Kevin Joseph Fitzgerald sold 12,128 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $452.18, for a total value of $5,484,039.04. Following the sale, the executive vice president owned 21,264 shares in the company, valued at $9,615,155.52. This represents a 36.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Yvonne Greenstreet sold 15,650 shares of Alnylam Pharmaceuticals stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $453.69, for a total value of $7,100,248.50. Following the transaction, the chief executive officer owned 65,409 shares of the company’s stock, valued at $29,675,409.21. The trade was a 19.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 37,778 shares of company stock valued at $17,096,988 in the last ninety days. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of ALNY. Vanguard Group Inc. boosted its stake in Alnylam Pharmaceuticals by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 13,565,452 shares of the biopharmaceutical company’s stock worth $6,185,846,000 after purchasing an additional 268,313 shares in the last quarter. Capital Research Global Investors raised its holdings in Alnylam Pharmaceuticals by 0.4% in the third quarter. Capital Research Global Investors now owns 7,222,840 shares of the biopharmaceutical company’s stock worth $3,293,516,000 after buying an additional 31,184 shares during the last quarter. Groupama Asset Managment lifted its stake in shares of Alnylam Pharmaceuticals by 160.4% in the third quarter. Groupama Asset Managment now owns 4,032,082 shares of the biopharmaceutical company’s stock worth $18,610,000 after buying an additional 2,483,697 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Alnylam Pharmaceuticals by 3.3% during the second quarter. Geode Capital Management LLC now owns 2,398,770 shares of the biopharmaceutical company’s stock valued at $779,857,000 after buying an additional 75,936 shares during the last quarter. Finally, Orbis Allan Gray Ltd increased its position in shares of Alnylam Pharmaceuticals by 29.8% during the second quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company’s stock valued at $691,771,000 after acquiring an additional 486,489 shares in the last quarter. 92.97% of the stock is currently owned by institutional investors.

Alnylam Pharmaceuticals Company Profile

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.