Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Gets Price Target Reduction from Wells Fargo & Company

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective reduced by Wells Fargo & Company from $256.00 to $253.00 in a report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the biopharmaceutical company’s stock.

ALNY has been the subject of a number of other research reports. Wall Street Zen downgraded shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Sanford C. Bernstein reissued a “buy” rating on shares of Alnylam Pharmaceuticals in a research report on Monday, August 31st. Chardan Capital reissued a “buy” rating and issued a $425.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday, July 31st. Zacks Research upgraded shares of Alnylam Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Finally, Bank of America dropped their price target on shares of Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $364.95.

Alnylam Pharmaceuticals Stock Performance

Alnylam Pharmaceuticals stock opened at $231.83 on Wednesday. The firm has a market capitalization of $31.02 billion, a P/E ratio of 43.09 and a beta of 0.28. The stock has a fifty day moving average price of $239.35 and a 200 day moving average price of $274.34. Alnylam Pharmaceuticals has a 52 week low of $197.81 and a 52 week high of $495.55. The company has a current ratio of 3.05, a quick ratio of 2.99 and a debt-to-equity ratio of 0.75.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.21. Alnylam Pharmaceuticals had a return on equity of 84.93% and a net margin of 15.26%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the business posted ($0.51) earnings per share. The firm’s revenue for the quarter was up 66.9% compared to the same quarter last year. Equities research analysts anticipate that Alnylam Pharmaceuticals will post 6.68 earnings per share for the current year.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, EVP Bryan Supran sold 1,758 shares of the business’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $226.88, for a total transaction of $398,855.04. Following the completion of the sale, the executive vice president owned 12,807 shares of the company’s stock, valued at approximately $2,905,652.16. The trade was a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of large investors have recently modified their holdings of ALNY. SCS Capital Management LLC purchased a new stake in shares of Alnylam Pharmaceuticals during the 2nd quarter worth about $34,784,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Alnylam Pharmaceuticals during the 2nd quarter worth approximately $50,773,000. Silvant Capital Management LLC acquired a new stake in Alnylam Pharmaceuticals during the 2nd quarter worth approximately $5,456,000. Hsbc Holdings PLC raised its holdings in Alnylam Pharmaceuticals by 22.6% in the fourth quarter. Hsbc Holdings PLC now owns 89,517 shares of the biopharmaceutical company’s stock valued at $35,675,000 after buying an additional 16,503 shares during the period. Finally, Wealthfront Advisers LLC purchased a new position in Alnylam Pharmaceuticals in the second quarter valued at approximately $2,876,000. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines based on RNA interference (RNAi), a biological process that can selectively reduce the production of disease-causing proteins. The company was founded in 2002 and is headquartered in Cambridge, Massachusetts.

Alnylam’s commercial products include ONPATTRO (patisiran), an RNAi therapy for hereditary transthyretin-mediated amyloidosis with polyneuropathy; GIVLAARI (givosiran), for acute hepatic porphyria; OXLUMO (lumasiran), for primary hyperoxaluria type 1; and AMVUTTRA (vutrisiran), for transthyretin-mediated amyloidosis.