Truist Financial Issues Pessimistic Forecast for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target decreased by research analysts at Truist Financial from $535.00 to $530.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s price objective would indicate a potential upside of 33.07% from the stock’s previous close.

Several other analysts have also weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $489.00 price objective (up previously from $449.00) on shares of Alnylam Pharmaceuticals in a report on Friday, October 31st. Wells Fargo & Company increased their price target on Alnylam Pharmaceuticals from $395.00 to $479.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. Barclays lifted their price objective on Alnylam Pharmaceuticals from $460.00 to $527.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Royal Bank Of Canada boosted their price objective on Alnylam Pharmaceuticals from $435.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Finally, HC Wainwright set a $570.00 target price on Alnylam Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, November 4th. Twenty-two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $484.21.

Alnylam Pharmaceuticals Trading Down 0.3%

Shares of Alnylam Pharmaceuticals stock opened at $398.29 on Thursday. Alnylam Pharmaceuticals has a 12-month low of $205.87 and a 12-month high of $495.55. The stock has a market capitalization of $52.62 billion, a P/E ratio of 1,659.54 and a beta of 0.32. The company has a 50-day simple moving average of $425.72 and a 200 day simple moving average of $419.88. The company has a quick ratio of 2.49, a current ratio of 2.54 and a debt-to-equity ratio of 4.45.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,650 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $453.69, for a total transaction of $7,100,248.50. Following the completion of the sale, the chief executive officer directly owned 65,409 shares of the company’s stock, valued at approximately $29,675,409.21. The trade was a 19.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 12,128 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $452.18, for a total transaction of $5,484,039.04. Following the transaction, the executive vice president owned 21,264 shares in the company, valued at approximately $9,615,155.52. The trade was a 36.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 37,778 shares of company stock worth $17,096,988 in the last ninety days. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Root Financial Partners LLC bought a new position in Alnylam Pharmaceuticals in the third quarter valued at approximately $25,000. Salomon & Ludwin LLC bought a new stake in shares of Alnylam Pharmaceuticals during the 3rd quarter valued at $27,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at $29,000. Ameriflex Group Inc. bought a new position in shares of Alnylam Pharmaceuticals in the 3rd quarter worth $32,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Alnylam Pharmaceuticals during the third quarter worth $36,000. 92.97% of the stock is owned by institutional investors.

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.