Barclays Initiates Coverage on Alnylam Pharmaceuticals (NASDAQ:ALNY)

Research analysts at Barclays initiated coverage on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $527.00 price target on the biopharmaceutical company’s stock. Barclays‘s price objective would indicate a potential upside of 51.97% from the company’s previous close.

A number of other research firms have also weighed in on ALNY. Jefferies Financial Group reduced their target price on Alnylam Pharmaceuticals from $550.00 to $549.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Raymond James Financial reaffirmed an “outperform” rating and issued a $472.00 price target on shares of Alnylam Pharmaceuticals in a research note on Monday, January 12th. Wall Street Zen upgraded shares of Alnylam Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Monday, November 10th. Stifel Nicolaus boosted their price objective on shares of Alnylam Pharmaceuticals from $495.00 to $508.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, Leerink Partners dropped their target price on shares of Alnylam Pharmaceuticals from $370.00 to $351.00 and set a “market perform” rating on the stock in a research note on Monday, December 15th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $485.21.

Alnylam Pharmaceuticals Stock Down 0.8%

Shares of NASDAQ ALNY opened at $346.79 on Wednesday. Alnylam Pharmaceuticals has a 1 year low of $205.87 and a 1 year high of $495.55. The firm has a 50-day simple moving average of $401.57 and a two-hundred day simple moving average of $423.47. The company has a market cap of $45.81 billion, a P/E ratio of 1,444.96 and a beta of 0.32. The company has a debt-to-equity ratio of 4.45, a current ratio of 2.54 and a quick ratio of 2.49.

Insiders Place Their Bets

In other news, CEO Yvonne Greenstreet sold 9,577 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 78,411 shares of the company’s stock, valued at approximately $28,452,215.46. This represents a 10.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kevin Joseph Fitzgerald sold 2,290 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $370.33, for a total transaction of $848,055.70. Following the transaction, the executive vice president directly 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 SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 56,955 shares of company stock worth $24,072,733. 1.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ALNY. Brighton Jones LLC purchased a new position in Alnylam Pharmaceuticals in the fourth quarter valued at about $243,000. Geneos Wealth Management Inc. raised its holdings in Alnylam Pharmaceuticals by 372.3% in the first quarter. Geneos Wealth Management Inc. now owns 222 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 175 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Alnylam Pharmaceuticals by 57.3% during the second quarter. Farther Finance Advisors LLC now owns 379 shares of the biopharmaceutical company’s stock valued at $123,000 after buying an additional 138 shares during the last quarter. Signaturefd LLC grew its position in shares of Alnylam Pharmaceuticals by 8.6% in the 2nd quarter. Signaturefd LLC now owns 1,906 shares of the biopharmaceutical company’s stock worth $622,000 after buying an additional 151 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its stake in shares of Alnylam Pharmaceuticals by 356.1% during the 2nd quarter. V Square Quantitative Management LLC now owns 1,692 shares of the biopharmaceutical company’s stock worth $552,000 after acquiring an additional 1,321 shares in the last quarter. 92.97% of the stock is 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.