Alnylam Pharmaceuticals (NASDAQ:ALNY) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) from an outperform rating to a strong-buy rating in a research note issued to investors on Monday morning, Marketbeat.com reports. Raymond James Financial currently has $420.00 target price on the biopharmaceutical company’s stock.

ALNY has been the topic of several other research reports. Stifel Nicolaus lowered their price objective on shares of Alnylam Pharmaceuticals from $444.00 to $318.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. HC Wainwright cut their target price on shares of Alnylam Pharmaceuticals from $485.00 to $455.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Weiss Ratings raised shares of Alnylam Pharmaceuticals from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Oppenheimer decreased their price target on shares of Alnylam Pharmaceuticals from $500.00 to $350.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. Finally, Barclays dropped their price objective on shares of Alnylam Pharmaceuticals from $527.00 to $450.00 and set an “overweight” rating on the stock in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $396.72.

Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ ALNY opened at $228.72 on Monday. Alnylam Pharmaceuticals has a 12 month low of $197.81 and a 12 month high of $495.55. The company has a market cap of $30.61 billion, a P/E ratio of 42.51 and a beta of 0.30. The business’s 50 day moving average is $283.55 and its two-hundred day moving average is $307.89. The company has a quick ratio of 3.06, a current ratio of 3.05 and a debt-to-equity ratio of 0.75.

Insider Activity

In other news, Director David E. I. Pyott sold 3,830 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the sale, the director directly owned 1,582 shares in the company, valued at approximately $473,302.76. The trade was a 70.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of ALNY. MV Capital Management Inc. acquired a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Alnylam Pharmaceuticals during the 3rd quarter valued at about $29,000. HM Payson & Co. acquired a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter valued at about $27,000. Golden State Wealth Management LLC increased its stake in Alnylam Pharmaceuticals by 100.0% in the fourth quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 36 shares during the period. Finally, Manchester Capital Management LLC raised its position in Alnylam Pharmaceuticals by 600.0% in the fourth quarter. Manchester Capital Management LLC now owns 84 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 72 shares in the last quarter. Institutional investors 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.