Alnylam Pharmaceuticals (NASDAQ:ALNY) Cut to Hold at Truist Financial

Truist Financial lowered shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) from a buy rating to a hold rating in a research note released on Monday morning, MarketBeat reports. They currently have $225.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $315.00.

A number of other brokerages have also recently commented on ALNY. Zacks Research cut shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 23rd. Bank of America reiterated a “buy” rating and issued a $287.00 price objective (down from $460.00) on shares of Alnylam Pharmaceuticals in a research note on Friday, October 30th. Raymond James Financial cut Alnylam Pharmaceuticals from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $420.00 to $315.00 in a report on Friday, October 30th. BMO Capital Markets restated an “outperform” rating and set a $290.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday, October 30th. Finally, Barclays cut their target price on Alnylam Pharmaceuticals from $527.00 to $450.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $305.86.

Alnylam Pharmaceuticals Trading Up 0.7%

Shares of ALNY stock opened at $161.08 on Monday. The firm has a fifty day moving average of $231.83 and a 200-day moving average of $283.11. The stock has a market cap of $21.58 billion, a price-to-earnings ratio of 8.36 and a beta of 0.42. Alnylam Pharmaceuticals has a 52-week low of $156.00 and a 52-week high of $479.79. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.43 and a current ratio of 2.48.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, October 29th. The biopharmaceutical company reported $16.26 earnings per share for the quarter, beating the consensus estimate of $1.66 by $14.60. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. Alnylam Pharmaceuticals had a net margin of 52.85% and a return on equity of 155.33%. The firm’s revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.90 EPS. On average, equities research analysts forecast that Alnylam Pharmaceuticals will post 6.98 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Bryan Supran sold 1,758 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $226.88, for a total value of $398,855.04. Following the transaction, the executive vice president directly owned 12,807 shares of the company’s stock, valued at $2,905,652.16. The trade was a 12.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ALNY. New York Life Investment Management LLC grew its holdings in shares of Alnylam Pharmaceuticals by 9.7% in the 3rd quarter. New York Life Investment Management LLC now owns 4,722 shares of the biopharmaceutical company’s stock valued at $1,165,000 after buying an additional 418 shares during the period. AlphaCore Capital LLC acquired a new stake in shares of Alnylam Pharmaceuticals during the third quarter worth about $325,000. Fulcrum Asset Management LLP bought a new position in shares of Alnylam Pharmaceuticals during the 3rd quarter valued at about $1,602,000. Allspring Global Investments Holdings LLC grew its position in shares of Alnylam Pharmaceuticals by 3.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,644 shares of the biopharmaceutical company’s stock valued at $611,000 after purchasing an additional 98 shares during the period. Finally, Brighton Jones LLC grew its position in shares of Alnylam Pharmaceuticals by 42.2% in the 3rd quarter. Brighton Jones LLC now owns 6,967 shares of the biopharmaceutical company’s stock valued at $1,719,000 after purchasing an additional 2,069 shares during the period. Institutional investors own 92.97% of the company’s stock.

Trending Headlines about Alnylam Pharmaceuticals

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

• Positive Sentiment: The board authorized a $1 billion share repurchase program. The buyback signals confidence in Alnylam’s prospects and may support the stock by reducing shares outstanding over time. The company also announced a transition in commercial leadership as it enters its next growth phase; no further details were included in the announcement. Alnylam announces share repurchase and commercial leadership change
• Positive Sentiment: Alnylam plans to present five-year HELIOS-B data and additional clinical and real-world evidence on AMVUTTRA (vutrisiran) at upcoming AHA and ISA meetings. Further evidence could reinforce the treatment’s clinical profile, though the announcement itself did not provide new results. Alnylam to present HELIOS-B data
• Neutral Sentiment: Alnylam also scheduled a webcast presentation at the Jefferies Global Healthcare Conference. The notice did not disclose new business or clinical developments. Alnylam conference webcast notice
• Negative Sentiment: Several analysts lowered their expectations: Raymond James cut its rating from Strong Buy to Outperform, Bernstein moved from Outperform to Market Perform, and reports cited lower forecasts from Barclays and Canaccord Genuity. These actions may weigh on sentiment, despite the buyback announcement. Raymond James rating change Bernstein rating change Barclays forecast report Canaccord forecast report

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines based on RNA interference (RNAi). The company’s therapies are designed to silence specific genes involved in disease, with the goal of addressing the underlying causes of genetic and other serious conditions.

Alnylam’s marketed products include ONPATTRO (patisiran) and AMVUTTRA (vutrisiran) for hereditary transthyretin-mediated amyloidosis, GIVLAARI (givosiran) for acute hepatic porphyria, and OXLUMO (lumasiran) for primary hyperoxaluria type 1.