Alnylam Pharmaceuticals (NASDAQ:ALNY) Coverage Initiated at Oppenheimer

Equities research analysts at Oppenheimer started coverage on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a report issued on Wednesday. The firm set an “outperform” rating and a $500.00 price target on the biopharmaceutical company’s stock. Oppenheimer’s price target suggests a potential upside of 25.19% from the stock’s previous close.

A number of other brokerages have also weighed in on ALNY. Truist Financial boosted their price objective on Alnylam Pharmaceuticals from $459.00 to $535.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Stifel Nicolaus upped their price objective on Alnylam Pharmaceuticals from $495.00 to $508.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. The Goldman Sachs Group lifted their target price on shares of Alnylam Pharmaceuticals from $504.00 to $566.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Wells Fargo & Company upped their price target on shares of Alnylam Pharmaceuticals from $395.00 to $479.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 11th. Finally, Evercore ISI lifted their price target on shares of Alnylam Pharmaceuticals from $280.00 to $515.05 and gave the stock an “outperform” rating in a report on Thursday, September 11th. Twenty-two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $484.21.

Alnylam Pharmaceuticals Trading Down 5.5%

ALNY opened at $399.40 on Wednesday. The company’s 50 day moving average is $426.88 and its 200-day moving average is $419.29. The company has a market cap of $52.77 billion, a P/E ratio of 1,664.17 and a beta of 0.32. Alnylam Pharmaceuticals has a 1-year low of $205.87 and a 1-year high of $495.55. The company has a current ratio of 2.54, a quick ratio of 2.49 and a debt-to-equity ratio of 4.45.

Insider Buying and Selling

In other news, CEO Yvonne Greenstreet sold 15,650 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $453.69, for a total value of $7,100,248.50. Following the sale, the chief executive officer directly owned 65,409 shares of the company’s stock, valued at approximately $29,675,409.21. This represents a 19.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 12,128 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $452.18, for a total transaction of $5,484,039.04. Following the sale, the executive vice president owned 21,264 shares of the company’s stock, valued at approximately $9,615,155.52. This trade represents a 36.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 37,778 shares of company stock worth $17,096,988 in the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Root Financial Partners LLC acquired a new stake in Alnylam Pharmaceuticals during the third quarter worth approximately $25,000. Salomon & Ludwin LLC bought a new position in shares of Alnylam Pharmaceuticals during the 3rd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Alnylam Pharmaceuticals during the 3rd quarter worth approximately $29,000. Atlantic Union Bankshares Corp bought a new stake in shares of Alnylam Pharmaceuticals in the 2nd quarter valued at $30,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at $32,000. 92.97% of the stock is owned by 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.