Alnylam Pharmaceuticals (NASDAQ:ALNY) Coverage Initiated by Analysts at Barclays

Research analysts at Barclays initiated coverage on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research report issued on Wednesday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $527.00 price target on the biopharmaceutical company’s stock. Barclays‘s price target would suggest a potential upside of 48.56% from the stock’s current price.

Other research analysts also recently issued reports about the company. 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 research note on Monday, January 12th. Wells Fargo & Company reduced their price objective on shares of Alnylam Pharmaceuticals from $479.00 to $376.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 20th. Oppenheimer started coverage on shares of Alnylam Pharmaceuticals in a report on Wednesday, January 7th. They issued an “outperform” rating and a $500.00 price objective on the stock. JPMorgan Chase & Co. cut their target price 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. Finally, Needham & Company LLC lifted their target price on shares of Alnylam Pharmaceuticals from $520.00 to $529.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $485.21.

Alnylam Pharmaceuticals Trading Down 1.8%

Shares of NASDAQ:ALNY opened at $354.75 on Wednesday. Alnylam Pharmaceuticals has a 52-week low of $205.87 and a 52-week 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. The company has a market capitalization of $46.87 billion, a P/E ratio of 1,478.13 and a beta of 0.32. The company has a 50-day simple moving average of $405.78 and a 200 day simple moving average of $424.53.

Insider Activity

In other news, EVP Jeffrey V. Poulton sold 2,780 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $362.87, for a total transaction of $1,008,778.60. Following the transaction, the executive vice president directly owned 57,465 shares of the company’s stock, valued at approximately $20,852,324.55. This trade represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Pushkal Garg sold 1,510 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on 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 sale, the executive vice president owned 22,511 shares of the company’s stock, valued at approximately $8,168,566.57. The trade was a 6.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 56,955 shares of company stock worth $24,072,733. Insiders own 1.20% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

A number of institutional investors have recently modified their holdings of ALNY. Brighton Jones LLC bought a new position in shares of Alnylam Pharmaceuticals in the fourth quarter worth $243,000. Geneos Wealth Management Inc. grew its stake in Alnylam Pharmaceuticals by 372.3% during the first quarter. Geneos Wealth Management Inc. now owns 222 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 175 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Alnylam Pharmaceuticals by 57.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 379 shares of the biopharmaceutical company’s stock valued at $123,000 after buying an additional 138 shares during the period. Signaturefd LLC raised its position in shares of Alnylam Pharmaceuticals by 8.6% in the 2nd quarter. Signaturefd LLC now owns 1,906 shares of the biopharmaceutical company’s stock valued at $622,000 after buying an additional 151 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its position in shares of Alnylam Pharmaceuticals by 356.1% in the 2nd quarter. V Square Quantitative Management LLC now owns 1,692 shares of the biopharmaceutical company’s stock valued at $552,000 after buying an additional 1,321 shares in the last quarter. 92.97% of the stock is currently owned by 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.