Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $376.00 Price Target at Wells Fargo & Company

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price dropped by equities research analysts at Wells Fargo & Company from $479.00 to $376.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 8.03% from the company’s previous close.

ALNY has been the subject of a number of other research reports. Barclays lifted their price target on Alnylam Pharmaceuticals from $460.00 to $527.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Wall Street Zen upgraded Alnylam Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Monday, November 10th. Oppenheimer started coverage on Alnylam Pharmaceuticals in a report on Wednesday, January 7th. They set an “outperform” rating and a $500.00 price target for the company. Morgan Stanley raised their price objective on Alnylam Pharmaceuticals from $405.00 to $475.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Finally, Bank of America reduced their target price on Alnylam Pharmaceuticals from $530.00 to $529.00 and set a “buy” rating for the company in a report on Monday, January 12th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $485.21.

Alnylam Pharmaceuticals Stock Down 3.1%

Shares of Alnylam Pharmaceuticals stock traded down $11.22 during trading hours on Tuesday, reaching $348.05. The company’s stock had a trading volume of 310,170 shares, compared to its average volume of 1,419,089. The company has a market capitalization of $45.98 billion, a P/E ratio of 1,449.90 and a beta of 0.32. The stock’s fifty day simple moving average is $417.09 and its two-hundred day simple moving average is $422.89. Alnylam Pharmaceuticals has a one year low of $205.87 and a one year high of $495.55. The company has a debt-to-equity ratio of 4.45, a quick ratio of 2.49 and a current ratio of 2.54.

Insider Buying and Selling

In other news, EVP Kevin Joseph Fitzgerald sold 12,128 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $452.18, for a total transaction of $5,484,039.04. Following the sale, the executive vice president owned 21,264 shares in the company, valued at approximately $9,615,155.52. This trade represents a 36.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jeffrey V. Poulton sold 2,780 shares of Alnylam Pharmaceuticals stock in a transaction on Monday, January 12th. The stock was sold at an average price of $362.87, for a total transaction of $1,008,778.60. Following the sale, the executive vice president directly owned 57,465 shares of the company’s stock, valued at $20,852,324.55. This represents a 4.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 56,955 shares of company stock valued at $24,072,733 in the last three months. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Groupama Asset Managment lifted its position in Alnylam Pharmaceuticals by 160.4% in the 3rd quarter. Groupama Asset Managment now owns 4,032,082 shares of the biopharmaceutical company’s stock worth $18,610,000 after buying an additional 2,483,697 shares during the last quarter. Norges Bank bought a new position in shares of Alnylam Pharmaceuticals during the 2nd quarter valued at $662,837,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Alnylam Pharmaceuticals by 698.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,355,609 shares of the biopharmaceutical company’s stock valued at $618,158,000 after purchasing an additional 1,185,909 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in Alnylam Pharmaceuticals in the third quarter worth $369,943,000. Finally, Holocene Advisors LP purchased a new position in shares of Alnylam Pharmaceuticals in the second quarter worth about $194,616,000. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

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.