Wells Fargo & Company Cuts Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $376.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective lowered by Wells Fargo & Company from $479.00 to $376.00 in a research note published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also commented on the company. Bank of America dropped their price target on Alnylam Pharmaceuticals from $530.00 to $529.00 and set a “buy” rating for the company in a research note on Monday, January 12th. Stifel Nicolaus upped their price objective on Alnylam Pharmaceuticals from $495.00 to $508.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. HC Wainwright set a $570.00 price target on shares of Alnylam Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Oppenheimer started coverage on shares of Alnylam Pharmaceuticals in a report on Wednesday, January 7th. They issued an “outperform” rating and a $500.00 target price on the stock. Finally, Wall Street Zen upgraded Alnylam Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 10th. Twenty-two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $485.21.

Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ ALNY opened at $370.00 on Tuesday. 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 company has a market cap of $48.88 billion, a P/E ratio of 1,541.67 and a beta of 0.32. The firm’s fifty day moving average is $411.74 and its two-hundred day moving average is $422.29. Alnylam Pharmaceuticals has a 52-week low of $205.87 and a 52-week high of $495.55.

Insider Activity

In other news, EVP Tolga Tanguler sold 1,510 shares of the business’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $362.87, for a total transaction of $547,933.70. Following the completion of the sale, the executive vice president directly owned 29,728 shares of the company’s stock, valued at approximately $10,787,399.36. The trade was a 4.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kevin Joseph Fitzgerald sold 2,290 shares of the company’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $370.33, for a total transaction of $848,055.70. Following the completion of the transaction, the executive vice president owned 21,264 shares in the company, valued at approximately $7,874,697.12. The trade was a 9.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 56,955 shares of company stock worth $24,072,733 in the last three months. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the stock. Thematics Asset Management acquired a new stake in Alnylam Pharmaceuticals in the 2nd quarter valued at $1,995,000. Teacher Retirement System of Texas grew its position in shares of Alnylam Pharmaceuticals by 3.2% in the second quarter. Teacher Retirement System of Texas now owns 36,408 shares of the biopharmaceutical company’s stock valued at $11,872,000 after purchasing an additional 1,123 shares during the period. Generali Asset Management SPA SGR increased its stake in shares of Alnylam Pharmaceuticals by 6,368.0% during the third quarter. Generali Asset Management SPA SGR now owns 3,234 shares of the biopharmaceutical company’s stock worth $1,475,000 after purchasing an additional 3,184 shares in the last quarter. Investment Management Corp of Ontario raised its position in shares of Alnylam Pharmaceuticals by 35.4% during the 2nd quarter. Investment Management Corp of Ontario now owns 31,521 shares of the biopharmaceutical company’s stock worth $10,279,000 after purchasing an additional 8,244 shares during the last quarter. Finally, Congress Asset Management Co. acquired a new position in shares of Alnylam Pharmaceuticals during the 3rd quarter worth about $54,173,000. 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.