Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Gets Price Target Trim from Citigroup

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price decreased by Citigroup from $340.00 to $320.00 in a research note published on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the biopharmaceutical company’s stock.

ALNY has been the subject of a number of other research reports. Oppenheimer lowered their price objective on shares of Alnylam Pharmaceuticals from $500.00 to $350.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. JPMorgan Chase & Co. cut their target price on shares of Alnylam Pharmaceuticals from $375.00 to $369.00 and set an “overweight” rating on the stock in a report on Wednesday, September 30th. Cantor Fitzgerald reissued a “neutral” rating on shares of Alnylam Pharmaceuticals in a report on Wednesday, September 30th. Raymond James Financial upgraded Alnylam Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and set a $420.00 target price for the company in a research note on Monday, August 3rd. Finally, Chardan Capital reaffirmed a “buy” rating and set a $425.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, July 31st. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $364.95.

Alnylam Pharmaceuticals Stock Performance

Alnylam Pharmaceuticals stock opened at $231.83 on Wednesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.05 and a quick ratio of 2.99. Alnylam Pharmaceuticals has a 12 month low of $197.81 and a 12 month high of $495.55. The company has a fifty day moving average price of $239.35 and a two-hundred day moving average price of $274.34. The company has a market cap of $31.02 billion, a PE ratio of 43.09 and a beta of 0.28.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.21. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company earned ($0.51) earnings per share. The firm’s revenue was up 66.9% compared to the same quarter last year. Research analysts expect that Alnylam Pharmaceuticals will post 6.68 earnings per share for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, EVP Bryan Supran sold 1,758 shares of the firm’s stock in a transaction 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 sale, the executive vice president directly owned 12,807 shares in the company, valued at approximately $2,905,652.16. This trade represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several institutional investors have recently modified their holdings of ALNY. Bank of Nova Scotia increased its holdings in shares of Alnylam Pharmaceuticals by 0.6% in the 1st quarter. Bank of Nova Scotia now owns 7,798 shares of the biopharmaceutical company’s stock worth $2,580,000 after acquiring an additional 49 shares during the period. Prestige Wealth Management Group LLC lifted its position in Alnylam Pharmaceuticals by 30.6% in the 1st quarter. Prestige Wealth Management Group LLC now owns 226 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 53 shares during the last quarter. Fortitude Family Office LLC boosted its stake in Alnylam Pharmaceuticals by 10.5% during the 3rd quarter. Fortitude Family Office LLC now owns 578 shares of the biopharmaceutical company’s stock valued at $143,000 after purchasing an additional 55 shares during the period. Glenmede Trust Co. NA boosted its stake in Alnylam Pharmaceuticals by 8.3% during the 1st quarter. Glenmede Trust Co. NA now owns 731 shares of the biopharmaceutical company’s stock valued at $242,000 after purchasing an additional 56 shares during the period. Finally, MV Capital Management Inc. acquired a new position in Alnylam Pharmaceuticals during the 4th quarter valued at about $25,000. Institutional investors own 92.97% of the company’s stock.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines based on RNA interference (RNAi), a biological process that can selectively reduce the production of disease-causing proteins. The company was founded in 2002 and is headquartered in Cambridge, Massachusetts.

Alnylam’s commercial products include ONPATTRO (patisiran), an RNAi therapy for hereditary transthyretin-mediated amyloidosis with polyneuropathy; GIVLAARI (givosiran), for acute hepatic porphyria; OXLUMO (lumasiran), for primary hyperoxaluria type 1; and AMVUTTRA (vutrisiran), for transthyretin-mediated amyloidosis.