HC Wainwright Lowers Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $470.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target lowered by equities research analysts at HC Wainwright from $510.00 to $470.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price points to a potential upside of 61.31% from the company’s previous close.

Several other research firms have also issued reports on ALNY. Citigroup started coverage on Alnylam Pharmaceuticals in a report on Tuesday, May 19th. They set a “buy” rating and a $380.00 target price on the stock. Jefferies Financial Group reiterated a “hold” rating and set a $330.00 price objective (down from $522.00) on shares of Alnylam Pharmaceuticals in a research note on Monday, March 16th. Chardan Capital reissued a “buy” rating and issued a $425.00 target price on shares of Alnylam Pharmaceuticals in a research note on Wednesday, March 25th. Weiss Ratings upgraded shares of Alnylam Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Finally, Wells Fargo & Company upped their price target on shares of Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $461.39.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY opened at $291.37 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. Alnylam Pharmaceuticals has a 12 month low of $273.11 and a 12 month high of $495.55. The firm has a fifty day simple moving average of $296.26 and a 200 day simple moving average of $331.38. The stock has a market capitalization of $38.90 billion, a price-to-earnings ratio of 79.61 and a beta of 0.29.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, topping the consensus estimate of $0.87 by $1.12. Alnylam Pharmaceuticals had a net margin of 11.72% and a return on equity of 85.76%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the firm posted ($0.44) EPS. The company’s revenue for the quarter was up 96.4% on a year-over-year basis. Research analysts forecast that Alnylam Pharmaceuticals will post 7.47 EPS for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In related news, insider Melissa Mclaughlin sold 2,286 shares of the business’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $330.42, for a total value of $755,340.12. Following the completion of the sale, the insider directly owned 9,443 shares in the company, valued at $3,120,156.06. The trade was a 19.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director David E. I. Pyott sold 3,830 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $299.18, for a total value of $1,145,859.40. Following the completion of the transaction, the director directly owned 1,582 shares in the company, valued at approximately $473,302.76. This represents a 70.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 7,740 shares of company stock valued at $2,420,214. 0.86% of the stock is currently owned by insiders.

Institutional Trading of Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Research Global Investors grew its position in shares of Alnylam Pharmaceuticals by 0.4% during the 3rd quarter. Capital Research Global Investors now owns 7,222,840 shares of the biopharmaceutical company’s stock worth $3,293,516,000 after purchasing an additional 31,184 shares in the last quarter. Groupama Asset Managment boosted its stake in shares of Alnylam Pharmaceuticals by 160.4% in the third quarter. Groupama Asset Managment now owns 4,032,082 shares of the biopharmaceutical company’s stock valued at $18,610,000 after buying an additional 2,483,697 shares during the period. Geode Capital Management LLC grew its position in Alnylam Pharmaceuticals by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 2,650,722 shares of the biopharmaceutical company’s stock worth $1,056,884,000 after buying an additional 151,480 shares in the last quarter. Norges Bank acquired a new stake in Alnylam Pharmaceuticals during the fourth quarter worth approximately $895,816,000. Finally, Orbis Allan Gray Ltd increased its stake in Alnylam Pharmaceuticals by 29.8% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company’s stock worth $691,771,000 after acquiring an additional 486,489 shares during the period. Institutional investors and hedge funds 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.