Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Cut to $376.00 by Analysts at Wells Fargo & Company

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target lowered by Wells Fargo & Company from $479.00 to $376.00 in a report released on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the biopharmaceutical company’s stock.

A number of other research firms have also weighed in on ALNY. Needham & Company LLC boosted their price objective on Alnylam Pharmaceuticals from $520.00 to $529.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Jefferies Financial Group reduced their price target on Alnylam Pharmaceuticals from $550.00 to $549.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Leerink Partners dropped their price objective on shares of Alnylam Pharmaceuticals from $370.00 to $351.00 and set a “market perform” rating for the company in a report on Monday, December 15th. Raymond James Financial restated an “outperform” rating and set a $472.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Monday, January 12th. Finally, Truist Financial decreased their target price on shares of Alnylam Pharmaceuticals from $535.00 to $530.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Alnylam Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $485.21.

Alnylam Pharmaceuticals Trading Down 1.0%

Shares of Alnylam Pharmaceuticals stock opened at $355.53 on Tuesday. The company has a debt-to-equity ratio of 4.45, a current ratio of 2.54 and a quick ratio of 2.49. The stock’s 50 day simple moving average is $415.16 and its 200-day simple moving average is $423.06. The stock has a market cap of $46.97 billion, a P/E ratio of 1,481.38 and a beta of 0.32. Alnylam Pharmaceuticals has a 1-year low of $205.87 and a 1-year high of $495.55.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, EVP Tolga Tanguler sold 1,510 shares of the stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $362.87, for a total transaction of $547,933.70. Following the completion of the transaction, the executive vice president owned 29,728 shares of the company’s stock, valued at $10,787,399.36. This trade represents a 4.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey V. Poulton sold 2,780 shares of Alnylam Pharmaceuticals stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $362.87, for a total transaction of $1,008,778.60. Following the sale, the executive vice president owned 57,465 shares of the company’s stock, valued at approximately $20,852,324.55. This represents a 4.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 56,955 shares of company stock valued at $24,072,733 over the last three months. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Root Financial Partners LLC purchased a new position in shares of Alnylam Pharmaceuticals during the third quarter worth $25,000. Salomon & Ludwin LLC purchased a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at $27,000. Caitong International Asset Management Co. Ltd acquired a new position in Alnylam Pharmaceuticals during the 3rd quarter worth about $29,000. Atlantic Union Bankshares Corp purchased a new position in Alnylam Pharmaceuticals during the 2nd quarter valued at about $30,000. Finally, Ameriflex Group Inc. acquired a new position in Alnylam Pharmaceuticals in the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 92.97% of the company’s stock.

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.