Needham & Company LLC Issues Positive Forecast for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target hoisted by stock analysts at Needham & Company LLC from $520.00 to $529.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 32.82% from the company’s current price.

Several other research firms also recently weighed in on ALNY. Barclays lifted their target price on shares of Alnylam Pharmaceuticals from $460.00 to $527.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Morgan Stanley raised their price target on Alnylam Pharmaceuticals from $405.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Stifel Nicolaus boosted their price objective on Alnylam Pharmaceuticals from $495.00 to $508.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Jefferies Financial Group lowered their target price on Alnylam Pharmaceuticals from $550.00 to $549.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Finally, Wall Street Zen upgraded shares of Alnylam Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 10th. Twenty-two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $486.34.

Alnylam Pharmaceuticals Trading Down 0.3%

Shares of ALNY stock opened at $398.29 on Monday. Alnylam Pharmaceuticals has a 1-year low of $205.87 and a 1-year high of $495.55. The firm has a market cap of $52.62 billion, a PE ratio of 1,659.54 and a beta of 0.32. The company has a 50-day moving average of $425.72 and a two-hundred day moving average of $421.24. 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 Transactions at Alnylam Pharmaceuticals

In related news, CEO Yvonne Greenstreet sold 15,650 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $453.69, for a total transaction of $7,100,248.50. Following the sale, the chief executive officer directly owned 65,409 shares in the company, valued at approximately $29,675,409.21. This represents a 19.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 12,128 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $452.18, for a total transaction of $5,484,039.04. Following the completion of the transaction, the executive vice president owned 21,264 shares of the company’s stock, valued at $9,615,155.52. This represents a 36.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 37,778 shares of company stock valued at $17,096,988. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

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

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.