CAMBRIDGE, Mass.—Phillip A. Sharp (OTC:SHCAY), a director at Alnylam Pharmaceuticals , Inc. (NASDAQ:ALNY), executed a significant stock transaction, according to a recent SEC filing. On January 23, Sharp sold 11,250 shares of common stock at a price of $275.00 per share, totaling approximately $3.09 million. The transaction comes as Alnylam's stock shows strong momentum, with an 11.89% return over the past week and trading near its 52-week high of $304.39, according to InvestingPro data. This sale was part of a pre-established Rule 10b5-1 trading plan.
Prior to the sale, Sharp exercised stock options to acquire the same number of shares at $131.21 each. After these transactions, Sharp no longer holds these shares directly. However, he retains indirect ownership of 266,899 shares through a trust, which includes shares held for his children. The transaction occurred in a company currently valued at $35.96 billion, with analyst price targets ranging from $200 to $400.
These transactions were conducted as the options were nearing their expiration on June 1, 2025. The trading plan was adopted on August 2, 2024, ensuring compliance with SEC regulations. InvestingPro analysis indicates the company maintains a GOOD financial health score, though current valuations suggest the stock may be trading above its Fair Value. Discover more insights and 8 additional ProTips with an InvestingPro subscription.
In other recent news, Alnylam Pharmaceuticals has been the subject of several analyst reviews following the pre-announcement of its fourth quarter and full-year 2024 financial results. H.C. Wainwright maintained a Buy rating on Alnylam, highlighting the company's promising financial trajectory and innovative product pipeline. The company reported expected net product revenues of $452 million for the fourth quarter of 2024, surpassing estimates. Full-year revenues for 2024 are anticipated to reach $1.65 billion. Alnylam has set a net product revenue guidance range for 2025 between $2.05 billion and $2.25 billion.
Stifel analysts also maintained a positive outlook on Alnylam shares, reiterating their Buy rating. The company's focus on RNAi therapeutics has positioned it as a leader in a cutting-edge area of medicine, with the potential to make a significant impact on patient care. Additionally, Alnylam's 2025 revenue guidance suggests a move towards non-GAAP profitability, with a projected increase of up to 31% compared to 2024.
Canaccord Genuity maintained a Buy rating on shares of Alnylam Pharmaceuticals, commenting on recent developments in the market for treatments of ATTR-CM, a rare heart condition. The analyst noted that the ATTR-CM market has the capacity to accommodate multiple treatments, underpinning the firm's continued confidence in Alnylam Pharmaceuticals. Lastly, BMO Capital maintained its optimistic outlook on shares of Alnylam, reiterating an Outperform rating. The firm's confidence is bolstered by the recent FDA approval of Alnylam's drug, Attruby.
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