Truist Financial Cuts Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $315.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective cut by Truist Financial from $410.00 to $315.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other research analysts have also issued reports on ALNY. Sanford C. Bernstein upgraded shares of Alnylam Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. reduced their target price on shares of Alnylam Pharmaceuticals from $400.00 to $375.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Stifel Nicolaus decreased their price target on shares of Alnylam Pharmaceuticals from $444.00 to $318.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Barclays dropped their price target on shares of Alnylam Pharmaceuticals from $527.00 to $450.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Weiss Ratings upgraded shares of Alnylam Pharmaceuticals from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $396.72.

Alnylam Pharmaceuticals Price Performance

Alnylam Pharmaceuticals stock opened at $216.12 on Tuesday. The stock has a 50-day moving average price of $281.78 and a two-hundred day moving average price of $306.88. Alnylam Pharmaceuticals has a 12 month low of $197.81 and a 12 month high of $495.55. The company has a market capitalization of $28.92 billion, a PE ratio of 40.17 and a beta of 0.30. The company has a current ratio of 3.05, a quick ratio of 3.06 and a debt-to-equity ratio of 0.75.

Insider Activity at Alnylam Pharmaceuticals

In related news, Director David E. I. Pyott sold 3,830 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $299.18, for a total value of $1,145,859.40. Following the sale, the director directly owned 1,582 shares in the company, valued at $473,302.76. This represents a 70.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Alnylam Pharmaceuticals during the 4th quarter worth about $895,816,000. Qube Research & Technologies Ltd bought a new position in shares of Alnylam Pharmaceuticals in the 3rd quarter worth about $369,943,000. AQR Capital Management LLC lifted its stake in shares of Alnylam Pharmaceuticals by 295.2% in the 3rd quarter. AQR Capital Management LLC now owns 744,008 shares of the biopharmaceutical company’s stock valued at $336,009,000 after purchasing an additional 555,759 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Alnylam Pharmaceuticals in the 2nd quarter valued at about $148,128,000. Finally, Orbis Allan Gray Ltd boosted its position in shares of Alnylam Pharmaceuticals by 29.8% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company’s stock valued at $691,771,000 after purchasing an additional 486,489 shares in the last quarter. 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.