Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Lowered to $256.00 at Wells Fargo & Company

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective decreased by Wells Fargo & Company from $316.00 to $256.00 in a report issued on Friday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the biopharmaceutical company’s stock.

Several other equities analysts have also issued reports on ALNY. Truist Financial reduced their price target on Alnylam Pharmaceuticals from $410.00 to $315.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. JPMorgan Chase & Co. lowered their price objective on Alnylam Pharmaceuticals from $400.00 to $375.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Royal Bank Of Canada cut their target price on shares of Alnylam Pharmaceuticals from $445.00 to $350.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Oppenheimer decreased their target price on shares of Alnylam Pharmaceuticals from $500.00 to $350.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Finally, Stifel Nicolaus lowered their price target on shares of Alnylam Pharmaceuticals from $444.00 to $318.00 and set a “buy” rating for the company in a report on Friday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $393.86.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ:ALNY opened at $228.65 on Friday. The stock has a market cap of $30.60 billion, a PE ratio of 42.50 and a beta of 0.30. The company’s fifty day moving average is $272.86 and its 200 day moving average is $301.44. Alnylam Pharmaceuticals has a 52 week low of $197.81 and a 52 week high of $495.55. The company has a quick ratio of 2.99, a current ratio of 3.05 and a debt-to-equity ratio of 0.75.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of the company’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 transaction, the director owned 1,582 shares in the company, valued at approximately $473,302.76. This represents a 70.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. iA Global Asset Management Inc. increased its holdings in shares of Alnylam Pharmaceuticals by 979.5% in the 4th quarter. iA Global Asset Management Inc. now owns 17,780 shares of the biopharmaceutical company’s stock valued at $7,070,000 after acquiring an additional 16,133 shares during the period. Hussman Strategic Advisors Inc. purchased a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter worth about $2,505,000. GF Fund Management CO. LTD. lifted its stake in Alnylam Pharmaceuticals by 989.1% in the 4th quarter. GF Fund Management CO. LTD. now owns 30,462 shares of the biopharmaceutical company’s stock valued at $12,113,000 after buying an additional 27,665 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Alnylam Pharmaceuticals by 22.6% in the 4th quarter. Hsbc Holdings PLC now owns 89,517 shares of the biopharmaceutical company’s stock worth $35,675,000 after purchasing an additional 16,503 shares in the last quarter. Finally, Brighton Jones LLC purchased a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter valued at approximately $243,000. 92.97% of the stock is currently owned by institutional investors.

Alnylam Pharmaceuticals Company Profile

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.