Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $400.00 at Morgan Stanley

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective upped by analysts at Morgan Stanley from $370.00 to $400.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target suggests a potential upside of 28.36% from the stock’s previous close.

ALNY has been the topic of several other research reports. Truist Financial lowered their price objective on Alnylam Pharmaceuticals from $515.00 to $505.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Citigroup began coverage on Alnylam Pharmaceuticals in a report on Tuesday, May 19th. They issued a “buy” rating and a $380.00 price objective on the stock. Wall Street Zen lowered shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Wells Fargo & Company upped their price target on Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, Royal Bank Of Canada cut their price objective on shares of Alnylam Pharmaceuticals from $450.00 to $445.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $461.05.

Alnylam Pharmaceuticals Trading Down 0.4%

Shares of NASDAQ:ALNY opened at $311.63 on Friday. Alnylam Pharmaceuticals has a 52-week low of $273.11 and a 52-week high of $495.55. The company has a quick ratio of 3.06, a current ratio of 3.13 and a debt-to-equity ratio of 0.94. The stock has a market cap of $41.61 billion, a price-to-earnings ratio of 85.20 and a beta of 0.27. The business has a 50-day moving average price of $296.32 and a 200-day moving average price of $325.69.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, beating the consensus estimate of $0.87 by $1.12. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Alnylam Pharmaceuticals had a net margin of 11.72% and a return on equity of 85.76%. The business’s quarterly revenue was up 96.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.44) EPS. Equities analysts predict that Alnylam Pharmaceuticals will post 7.29 EPS for the current year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of the business’s stock in a transaction on 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 transaction, the director owned 1,582 shares in the company, valued at $473,302.76. The trade was a 70.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 company insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of ALNY. MV Capital Management Inc. purchased a new stake in Alnylam Pharmaceuticals during the 4th quarter worth about $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at about $29,000. HM Payson & Co. acquired a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter valued at about $27,000. Golden State Wealth Management LLC boosted its position in shares of Alnylam Pharmaceuticals by 100.0% in 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 during the period. Finally, Manchester Capital Management LLC grew its stake in Alnylam Pharmaceuticals by 600.0% during the 4th quarter. Manchester Capital Management LLC now owns 84 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 72 shares during the last quarter. 92.97% of the stock is currently owned by institutional investors and hedge funds.

Alnylam Pharmaceuticals News Summary

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

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.