Alnylam Pharmaceuticals CMO Pushkal Garg sells $2.86 million in stock

Pushkal Garg, Chief Medical (TASE:BLWV) Officer and Executive Vice President of Development and Medical Affairs at Alnylam Pharmaceuticals (NASDAQ:ALNY), recently sold shares of the company’s common stock totaling $2.86 million. The transactions, disclosed in a recent SEC filing, occurred on March 21 and March 24, 2025. The sales come as Alnylam, currently valued at $36.4 billion, demonstrates strong market performance with a 91% return over the past year. According to InvestingPro analysis, the company maintains a GOOD financial health score despite not being profitable in the last twelve months.

The sales involved 4,321 shares sold at a price of $285 per share on March 21, followed by 5,445 shares sold at $300 per share on March 24. These transactions were conducted under a Rule 10b5-1 trading plan, which Garg adopted on September 11, 2024. The stock currently trades near $281, showing remarkable momentum with a 19% gain in the past week. For comprehensive insider trading analysis and 12 additional key insights, visit InvestingPro.

In addition to these sales, Garg exercised stock options on March 24, acquiring 5,445 shares at an exercise price of $42.22 per share, amounting to a total of $229,887.

Following these transactions, Garg holds 20,221 shares of Alnylam Pharmaceuticals directly. Additionally, he holds shares indirectly through a managed account and a trust, although he disclaims beneficial ownership of the shares held in trust.

In other recent news, Alnylam Pharmaceuticals has seen significant developments following the FDA approval of its drug Amvuttra for the treatment of transthyretin amyloid cardiomyopathy (ATTR-CM). Analysts from RBC Capital, H.C. Wainwright, JPMorgan, Stifel, and Scotiabank (TSX:BNS) have all maintained or increased their price targets and ratings for the company, reflecting confidence in Amvuttra’s market potential. RBC Capital continues to hold a $330 target, citing the drug’s potential rapid market uptake. H.C. Wainwright set a $500 target, emphasizing the drug’s promising results from the HELIOS-B study and its potential to dominate cardiomyopathy treatment. JPMorgan upgraded the stock to Overweight with a $328 target, highlighting the robust demand anticipated for Amvuttra.

Stifel analysts maintained their $300 target, noting the significance of the drug’s label and pricing strategy, while Scotiabank raised their target to $338, pointing out the drug’s unique mechanism of action and strong phase 3 trial results. The FDA approval has been described as a pivotal moment for Alnylam, with analysts predicting strong patient adoption and significant market uptake. The drug’s pricing strategy, including a quarterly dosing schedule, is expected to support high patient compliance. These developments underscore the company’s strategic approach and potential for continued success in the ATTR amyloidosis market.

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