Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Lowered to $510.00 at HC Wainwright

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price reduced by stock analysts at HC Wainwright from $570.00 to $510.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 47.06% from the company’s current price.

A number of other research analysts have also weighed in on ALNY. Weiss Ratings upgraded Alnylam Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, January 15th. Piper Sandler reissued an “overweight” rating and issued a $489.00 price target (up from $449.00) on shares of Alnylam Pharmaceuticals in a research note on Friday, October 31st. Raymond James Financial reaffirmed an “outperform” rating and set a $472.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Monday, January 12th. JPMorgan Chase & Co. decreased their target price on shares of Alnylam Pharmaceuticals from $475.00 to $473.00 and set an “overweight” rating on the stock in a research note on Monday, October 13th. Finally, Wall Street Zen upgraded Alnylam Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 10th. Twenty-two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $479.92.

Alnylam Pharmaceuticals Price Performance

Shares of Alnylam Pharmaceuticals stock opened at $346.79 on Friday. The stock has a market capitalization of $45.81 billion, a P/E ratio of 1,444.96 and a beta of 0.32. The business has a 50 day simple moving average of $401.57 and a two-hundred day simple moving average of $423.47. Alnylam Pharmaceuticals has a 12 month low of $205.87 and a 12 month high of $495.55. The company has a debt-to-equity ratio of 4.45, a current ratio of 2.54 and a quick ratio of 2.49.

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 Kevin Joseph Fitzgerald sold 2,290 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $370.33, for a total transaction of $848,055.70. Following the completion of the sale, the executive vice president directly owned 21,264 shares in the company, valued at $7,874,697.12. This trade represents a 9.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 56,955 shares of company stock valued at $24,072,733. 1.50% of the stock is currently owned by company insiders.

Institutional Trading of Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALNY. Root Financial Partners LLC acquired a new position in 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 purchased a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at $29,000. Ameriflex Group Inc. acquired a new position in Alnylam Pharmaceuticals during the 3rd quarter worth about $32,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in Alnylam Pharmaceuticals during the 3rd quarter valued at about $36,000. 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.