Bank of America Lowers Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $462.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price dropped by stock analysts at Bank of America from $529.00 to $462.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s price objective would indicate a potential upside of 33.22% from the company’s current price.

Other equities analysts have also issued reports about the company. Wells Fargo & Company cut their price objective on Alnylam Pharmaceuticals from $479.00 to $376.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 20th. Leerink Partners dropped their price target on shares of Alnylam Pharmaceuticals from $370.00 to $351.00 and set a “market perform” rating on the stock in a research report on Monday, December 15th. Morgan Stanley upped their price objective on shares of Alnylam Pharmaceuticals from $405.00 to $475.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Wall Street Zen raised shares of Alnylam Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 10th. Finally, Weiss Ratings raised shares of Alnylam Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, January 15th. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $479.92.

Alnylam Pharmaceuticals Stock Down 0.8%

Shares of NASDAQ:ALNY opened at $346.79 on Friday. The firm has a market cap of $45.81 billion, a P/E ratio of 1,444.96 and a beta of 0.32. Alnylam Pharmaceuticals has a 12-month low of $205.87 and a 12-month high of $495.55. The business has a fifty day simple moving average of $401.57 and a 200 day simple moving average of $423.47. The company has a quick ratio of 2.49, a current ratio of 2.54 and a debt-to-equity ratio of 4.45.

Insiders Place Their Bets

In other news, CEO Yvonne Greenstreet sold 9,577 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $362.86, for a total transaction of $3,475,110.22. Following the completion of the sale, the chief executive officer owned 78,411 shares in the company, valued at $28,452,215.46. The trade was a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kevin Joseph Fitzgerald sold 2,290 shares of the stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $370.33, for a total value 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. This represents a 9.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 56,955 shares of company stock worth $24,072,733 over the last three months. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Thematics Asset Management bought a new position in shares of Alnylam Pharmaceuticals during the second quarter valued at about $1,995,000. Teacher Retirement System of Texas increased its stake in Alnylam Pharmaceuticals by 3.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 36,408 shares of the biopharmaceutical company’s stock valued at $11,872,000 after buying an additional 1,123 shares during the last quarter. Rakuten Investment Management Inc. bought a new position in shares of Alnylam Pharmaceuticals during the 3rd quarter worth approximately $14,205,000. Generali Asset Management SPA SGR boosted its stake in shares of Alnylam Pharmaceuticals by 6,368.0% in the 3rd quarter. Generali Asset Management SPA SGR now owns 3,234 shares of the biopharmaceutical company’s stock worth $1,475,000 after buying an additional 3,184 shares during the last quarter. Finally, Investment Management Corp of Ontario grew its holdings in shares of Alnylam Pharmaceuticals by 35.4% in the second quarter. Investment Management Corp of Ontario now owns 31,521 shares of the biopharmaceutical company’s stock valued at $10,279,000 after acquiring an additional 8,244 shares in the last quarter. Institutional investors and hedge funds 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.