Alnylam Pharmaceuticals (NASDAQ:ALNY) Shares Gap Up – Should You Buy?

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $323.50, but opened at $378.49. Alnylam Pharmaceuticals shares last traded at $360.4360, with a volume of 1,583,015 shares trading hands.

More Alnylam Pharmaceuticals News

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

• Positive Sentiment: AstraZeneca and Ionis reported a late-stage trial failure for Wainua, a setback that could reduce competitive pressure on Alnylam’s TTR business and support its market share outlook. AstraZeneca Stock and Partner Ionis Sink After Trial Failure. Alnylam Soars.
• Positive Sentiment: Analysts and market commentary said the rival trial miss improves the outlook for Alnylam’s core TTR franchise, reinforcing the bullish reaction in the stock. Alnylam Pharmaceuticals: An Unexpected Rival Trial Failure Improves The Core TTR Franchise Outlook
• Positive Sentiment: Morgan Stanley raised its price target on Alnylam to $400 from $370, signaling continued analyst support despite keeping an equal-weight rating. Benzinga report on Morgan Stanley price target increase
• Neutral Sentiment: Short-interest data showed no meaningful change, with reported short interest at 0 shares, so this does not appear to be a real trading catalyst.
• Neutral Sentiment: Commentary pieces on valuation and biotech sector strength add context, but they are secondary to the trial-failure news and analyst target revision. Alnylam Pharmaceuticals (ALNY) Stock Looks Rich On Earnings Yet Strong On Returns

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wall Street Zen cut shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Jefferies Financial Group reaffirmed a “hold” rating and issued a $330.00 price target (down from $522.00) on shares of Alnylam Pharmaceuticals in a research report on Monday, March 16th. Wells Fargo & Company increased their price objective on shares of Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Truist Financial cut their price objective 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, Royal Bank Of Canada reduced 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 note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold 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 $461.05.

Alnylam Pharmaceuticals Price Performance

The firm has a market capitalization of $39.89 billion, a P/E ratio of 81.63 and a beta of 0.27. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.13 and a quick ratio of 3.06. The stock’s fifty day simple moving average is $296.27 and its 200 day simple moving average is $325.50.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, beating 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 analysts’ expectations of $1.12 billion. During the same period last year, the business earned ($0.44) EPS. The company’s revenue was up 96.4% compared to the same quarter last year. On average, equities research analysts predict that Alnylam Pharmaceuticals, Inc. will post 7.29 EPS for the current year.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of the firm’s stock in a transaction that occurred 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 sale, the director directly owned 1,582 shares in the company, valued at $473,302.76. This trade represents a 70.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 Trading of Alnylam Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its position in Alnylam Pharmaceuticals by 20.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 155,695 shares of the biopharmaceutical company’s stock valued at $46,869,000 after buying an additional 26,799 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Alnylam Pharmaceuticals by 7.9% in the first quarter. Parallel Advisors LLC now owns 891 shares of the biopharmaceutical company’s stock worth $295,000 after acquiring an additional 65 shares in the last quarter. Glenmede Trust Co. NA grew its stake in shares of Alnylam Pharmaceuticals by 8.3% during the first quarter. Glenmede Trust Co. NA now owns 731 shares of the biopharmaceutical company’s stock worth $242,000 after acquiring an additional 56 shares during the last quarter. Groupama Asset Managment increased its holdings in shares of Alnylam Pharmaceuticals by 2.5% during the first quarter. Groupama Asset Managment now owns 36,767 shares of the biopharmaceutical company’s stock valued at $12,165,000 after acquiring an additional 889 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of Alnylam Pharmaceuticals during the first quarter valued at about $641,000. Institutional investors and hedge funds own 92.97% of the company’s stock.

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.