Barclays Lowers Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $450.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target dropped by analysts at Barclays from $527.00 to $450.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Barclays‘s target price would suggest a potential upside of 118.96% from the stock’s previous close.

A number of other research firms have also recently commented on ALNY. Needham & Company LLC cut their target price on Alnylam Pharmaceuticals from $510.00 to $357.00 and set a “buy” rating on the stock in a research report on Thursday. Royal Bank Of Canada dropped their price target on Alnylam Pharmaceuticals from $445.00 to $350.00 and set an “outperform” rating on the stock in a research note on Friday. Stifel Nicolaus cut their price target on Alnylam Pharmaceuticals from $444.00 to $318.00 and set a “buy” rating on the stock in a research report on Friday. Morgan Stanley decreased their price objective on Alnylam Pharmaceuticals from $400.00 to $300.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Wells Fargo & Company reduced their price target on shares of Alnylam Pharmaceuticals from $377.00 to $316.00 and set an “equal weight” rating for the company in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $407.05.

Alnylam Pharmaceuticals Stock Performance

Shares of Alnylam Pharmaceuticals stock opened at $205.52 on Monday. The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94. The company has a fifty day simple moving average of $287.96 and a 200-day simple moving average of $310.90. The stock has a market cap of $27.50 billion, a price-to-earnings ratio of 38.20 and a beta of 0.30. Alnylam Pharmaceuticals has a 12-month low of $197.81 and a 12-month high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $1.12. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 104.81%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the company earned ($0.44) earnings per share. Alnylam Pharmaceuticals’s quarterly revenue was up 96.4% compared to the same quarter last year. On average, equities analysts forecast that Alnylam Pharmaceuticals will post 7.22 EPS for the current fiscal year.

Insider Activity

In related news, Director David E. I. Pyott sold 3,830 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the transaction, the director owned 1,582 shares of the company’s stock, valued at $473,302.76. This represents a 70.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.86% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the company. MV Capital Management Inc. acquired a new position in Alnylam Pharmaceuticals in the 4th quarter valued at about $25,000. HM Payson & Co. purchased a new stake in Alnylam Pharmaceuticals in the 4th quarter valued at about $27,000. Golden State Wealth Management LLC boosted its position in shares of Alnylam Pharmaceuticals by 100.0% in the fourth quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 36 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Alnylam Pharmaceuticals during the third quarter worth approximately $29,000. Finally, Manchester Capital Management LLC raised its position in shares of Alnylam Pharmaceuticals by 600.0% in the 4th quarter. Manchester Capital Management LLC now owns 84 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 72 shares during the period. 92.97% of the stock is currently 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.