Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Lowered to $465.00 at Royal Bank Of Canada

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target lowered by stock analysts at Royal Bank Of Canada from $500.00 to $465.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 33.52% from the company’s previous close.

ALNY has been the topic of a number of other reports. Barclays upped their price objective on shares of Alnylam Pharmaceuticals from $460.00 to $527.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Weiss Ratings raised shares of Alnylam Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday. Wall Street Zen raised shares of Alnylam Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 10th. Stifel Nicolaus raised their price objective on shares of Alnylam Pharmaceuticals from $495.00 to $508.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Wells Fargo & Company cut their price target on Alnylam Pharmaceuticals from $479.00 to $376.00 and set an “equal weight” rating for the company in a research note on Tuesday. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $485.21.

Alnylam Pharmaceuticals Trading Down 3.1%

Shares of ALNY stock traded down $11.01 during mid-day trading on Tuesday, reaching $348.26. 310,170 shares of the stock traded hands, compared to its average volume of 1,419,089. The stock’s fifty day simple moving average is $417.09 and its two-hundred day simple moving average is $422.89. The company has a quick ratio of 2.49, a current ratio of 2.54 and a debt-to-equity ratio of 4.45. Alnylam Pharmaceuticals has a 1-year low of $205.87 and a 1-year high of $495.55. The company has a market cap of $46.01 billion, a price-to-earnings ratio of 1,449.90 and a beta of 0.32.

Insider Transactions at Alnylam Pharmaceuticals

In related news, EVP Kevin Joseph Fitzgerald sold 2,290 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president owned 21,264 shares in the company, valued at $7,874,697.12. This represents a 9.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Yvonne Greenstreet sold 9,577 shares of Alnylam Pharmaceuticals stock in a transaction on Monday, January 12th. The shares were sold at an average price of $362.86, for a total value of $3,475,110.22. Following the transaction, the chief executive officer owned 78,411 shares of the company’s stock, valued at $28,452,215.46. The trade was a 10.88% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 56,955 shares of company stock worth $24,072,733. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in ALNY. Thematics Asset Management purchased a new position in shares of Alnylam Pharmaceuticals during the 2nd quarter worth about $1,995,000. Teacher Retirement System of Texas lifted its holdings in shares of Alnylam Pharmaceuticals by 3.2% during 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 purchasing an additional 1,123 shares during the last quarter. Generali Asset Management SPA SGR boosted its stake in 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 purchasing an additional 3,184 shares in the last quarter. Investment Management Corp of Ontario boosted its position in 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 buying an additional 8,244 shares during the last quarter. Finally, Congress Asset Management Co. purchased a new stake in Alnylam Pharmaceuticals in the 3rd quarter worth approximately $54,173,000. 92.97% of the stock is currently 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.