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

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective increased by Morgan Stanley from $370.00 to $400.00 in a report issued on Friday,Benzinga reports. The firm currently has an equal weight rating on the biopharmaceutical company’s stock.

Other analysts also recently issued research reports about the company. Weiss Ratings upgraded Alnylam Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Truist Financial reduced their price objective on Alnylam Pharmaceuticals from $515.00 to $505.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Jefferies Financial Group reiterated a “hold” rating and issued a $330.00 price target (down from $522.00) on shares of Alnylam Pharmaceuticals in a report on Monday, March 16th. Wall Street Zen lowered shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Citigroup began coverage on shares of Alnylam Pharmaceuticals in a research note on Tuesday, May 19th. They set a “buy” rating and a $380.00 price objective for the company. Two equities research 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $461.05.

Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ:ALNY traded down $14.03 on Friday, hitting $298.76. 2,538,135 shares of the company were exchanged, compared to its average volume of 1,364,197. Alnylam Pharmaceuticals has a 1-year low of $273.11 and a 1-year high of $495.55. The stock’s 50 day moving average price is $296.27 and its 200 day moving average price is $325.50. The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $39.89 billion, a P/E ratio of 81.63 and a beta of 0.27.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $1.12. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The firm’s revenue was up 96.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.44) EPS. Sell-side analysts predict that Alnylam Pharmaceuticals will post 7.29 EPS for the current year.

Insider Activity

In other news, Director David E. I. Pyott sold 3,830 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director owned 1,582 shares of the company’s stock, valued at $473,302.76. The trade was a 70.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through 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 Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. lifted its holdings in Alnylam Pharmaceuticals by 20.8% in the second quarter. Assenagon Asset Management S.A. now owns 155,695 shares of the biopharmaceutical company’s stock valued at $46,869,000 after acquiring an additional 26,799 shares during the period. Parallel Advisors LLC grew its stake in shares of Alnylam Pharmaceuticals by 7.9% during the 1st quarter. Parallel Advisors LLC now owns 891 shares of the biopharmaceutical company’s stock worth $295,000 after purchasing an additional 65 shares during the period. Glenmede Trust Co. NA grew its stake in shares of Alnylam Pharmaceuticals by 8.3% during the 1st quarter. Glenmede Trust Co. NA now owns 731 shares of the biopharmaceutical company’s stock worth $242,000 after purchasing an additional 56 shares during the period. Groupama Asset Managment increased its holdings in shares of Alnylam Pharmaceuticals by 2.5% during the 1st quarter. Groupama Asset Managment now owns 36,767 shares of the biopharmaceutical company’s stock valued at $12,165,000 after purchasing an additional 889 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Alnylam Pharmaceuticals during the 1st quarter valued at approximately $641,000. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Alnylam Pharmaceuticals

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

About Alnylam Pharmaceuticals

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.