Alnylam Pharmaceuticals (NASDAQ:ALNY) Now Covered by Oppenheimer

Equities researchers at Oppenheimer started coverage on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a note issued to investors on Wednesday. The firm set an “outperform” rating and a $500.00 price target on the biopharmaceutical company’s stock. Oppenheimer’s price objective points to a potential upside of 17.86% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Evercore ISI increased their price target on Alnylam Pharmaceuticals from $280.00 to $515.05 and gave the company an “outperform” rating in a report on Thursday, September 11th. Jefferies Financial Group lowered their price objective on Alnylam Pharmaceuticals from $550.00 to $549.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Wells Fargo & Company raised their price objective on Alnylam Pharmaceuticals from $395.00 to $479.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. HC Wainwright set a $570.00 price target on shares of Alnylam Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, Leerink Partners dropped their target price on shares of Alnylam Pharmaceuticals from $370.00 to $351.00 and set a “market perform” rating for the company in a report on Monday, December 15th. Twenty-two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $484.42.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ ALNY traded up $17.82 during mid-day trading on Wednesday, reaching $424.22. The company’s stock had a trading volume of 326,844 shares, compared to its average volume of 923,266. The stock has a 50-day moving average of $429.06 and a two-hundred day moving average of $419.41. 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 stock has a market capitalization of $56.04 billion, a P/E ratio of 1,774.79 and a beta of 0.32. Alnylam Pharmaceuticals has a 1-year low of $205.87 and a 1-year high of $495.55.

Insiders Place Their Bets

In related news, CEO Yvonne Greenstreet sold 10,000 shares of the stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $451.27, for a total transaction of $4,512,700.00. Following the completion of the sale, the chief executive officer owned 65,409 shares in the company, valued at $29,517,119.43. This represents a 13.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 12,128 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $452.18, for a total value of $5,484,039.04. Following the completion of the transaction, the executive vice president owned 21,264 shares in the company, valued at $9,615,155.52. This trade represents a 36.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 37,778 shares of company stock valued at $17,096,988. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ALNY. Groupama Asset Managment raised its stake in Alnylam Pharmaceuticals by 160.4% in the 3rd quarter. Groupama Asset Managment now owns 4,032,082 shares of the biopharmaceutical company’s stock valued at $18,610,000 after purchasing an additional 2,483,697 shares during the last quarter. Norges Bank purchased a new position in shares of Alnylam Pharmaceuticals during the 2nd quarter worth about $662,837,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Alnylam Pharmaceuticals by 698.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,355,609 shares of the biopharmaceutical company’s stock worth $618,158,000 after acquiring an additional 1,185,909 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in Alnylam Pharmaceuticals in the third quarter valued at approximately $369,943,000. Finally, Holocene Advisors LP acquired a new position in Alnylam Pharmaceuticals during the second quarter worth approximately $194,616,000. 92.97% of the stock is owned by hedge funds and other 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.