Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $510.00 Price Target at HC Wainwright

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price reduced by research analysts at HC Wainwright from $570.00 to $510.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 47.06% from the stock’s current price.

ALNY has been the topic of several other research reports. Morgan Stanley boosted their price target 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. Needham & Company LLC lifted their target price on Alnylam Pharmaceuticals from $520.00 to $529.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Oppenheimer assumed coverage on shares of Alnylam Pharmaceuticals in a report on Wednesday, January 7th. They issued an “outperform” rating and a $500.00 price target on the stock. Leerink Partners reduced their price target on shares of Alnylam Pharmaceuticals from $370.00 to $351.00 and set a “market perform” rating for the company in a research report on Monday, December 15th. Finally, Weiss Ratings raised shares of Alnylam Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, January 15th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $479.92.

Alnylam Pharmaceuticals Trading Down 0.8%

NASDAQ:ALNY opened at $346.79 on Friday. The company has a market capitalization of $45.81 billion, a P/E ratio of 1,444.96 and a beta of 0.32. The company has a current ratio of 2.54, a quick ratio of 2.49 and a debt-to-equity ratio of 4.45. Alnylam Pharmaceuticals has a 12 month low of $205.87 and a 12 month high of $495.55. The firm has a fifty day simple moving average of $401.57 and a 200-day simple moving average of $423.47.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, EVP Pushkal Garg sold 1,510 shares of Alnylam Pharmaceuticals stock in a transaction on Monday, January 12th. The shares were sold at an average price of $362.87, for a total value of $547,933.70. Following the completion of the transaction, 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tolga Tanguler sold 1,510 shares of the company’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $362.87, for a total transaction of $547,933.70. Following the completion of the transaction, the executive vice president owned 29,728 shares of the company’s stock, valued at approximately $10,787,399.36. This trade represents a 4.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 56,955 shares of company stock valued at $24,072,733 in the last quarter. 1.50% of the stock is currently owned by insiders.

Institutional Trading of Alnylam Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Brighton Jones LLC purchased a new position in shares of Alnylam Pharmaceuticals during the 4th quarter valued at approximately $243,000. Geneos Wealth Management Inc. raised its position 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 acquiring an additional 175 shares during the period. Farther Finance Advisors LLC raised its position in Alnylam Pharmaceuticals by 57.3% during the second quarter. Farther Finance Advisors LLC now owns 379 shares of the biopharmaceutical company’s stock worth $123,000 after acquiring an additional 138 shares during the period. HB Wealth Management LLC lifted its holdings in Alnylam Pharmaceuticals by 12.7% during the second quarter. HB Wealth Management LLC now owns 869 shares of the biopharmaceutical company’s stock valued at $284,000 after purchasing an additional 98 shares in the last quarter. Finally, Truist Financial Corp grew its position in shares of Alnylam Pharmaceuticals by 10.6% in the second quarter. Truist Financial Corp now owns 4,007 shares of the biopharmaceutical company’s stock valued at $1,307,000 after purchasing an additional 383 shares during the period. 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.