Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Lowered to $465.00 at Royal Bank Of Canada

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective lowered by Royal Bank Of Canada from $500.00 to $465.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the biopharmaceutical company’s stock.

Several other research firms have also recently weighed in on ALNY. Oppenheimer began coverage on shares of Alnylam Pharmaceuticals in a research report on Wednesday, January 7th. They issued an “outperform” rating and a $500.00 price objective on the stock. JPMorgan Chase & Co. cut their price target on shares of Alnylam Pharmaceuticals from $475.00 to $473.00 and set an “overweight” rating for the company in a research note on Monday, October 13th. Jefferies Financial Group lowered their price objective on shares of Alnylam Pharmaceuticals from $550.00 to $549.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. HC Wainwright set a $570.00 price objective on shares of Alnylam Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, November 4th. Finally, Leerink Partners reduced their target price on Alnylam Pharmaceuticals from $370.00 to $351.00 and set a “market perform” rating on the stock in a research note on Monday, December 15th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $485.21.

Alnylam Pharmaceuticals Trading Down 1.0%

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

Insider Activity at Alnylam Pharmaceuticals

In other news, CEO Yvonne Greenstreet sold 9,577 shares of the stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $362.86, for a total transaction of $3,475,110.22. Following the completion of the sale, the chief executive officer owned 78,411 shares of the company’s stock, valued at approximately $28,452,215.46. This represents a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin Joseph Fitzgerald sold 2,290 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $370.33, for a total transaction of $848,055.70. Following the completion of the transaction, the executive vice president owned 21,264 shares in the company, valued at $7,874,697.12. This represents a 9.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 56,955 shares of company stock worth $24,072,733 over the last three months. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

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

Alnylam Pharmaceuticals Company Profile

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.