Alnylam Pharmaceuticals (NASDAQ:ALNY) Research Coverage Started at Oppenheimer

Oppenheimer started coverage on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research report released on Wednesday morning. The brokerage issued an outperform rating and a $500.00 target price on the biopharmaceutical company’s stock.

Several other equities analysts also recently weighed in on the stock. Wall Street Zen upgraded shares of Alnylam Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Monday, November 10th. Royal Bank Of Canada increased their price objective on shares of Alnylam Pharmaceuticals from $435.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Leerink Partners decreased their target price on shares of Alnylam Pharmaceuticals from $370.00 to $351.00 and set a “market perform” rating for the company in a research report on Monday, December 15th. Barclays increased their price target on Alnylam Pharmaceuticals from $460.00 to $527.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Finally, Morgan Stanley lifted their price objective on Alnylam Pharmaceuticals from $405.00 to $475.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Twenty-two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $484.21.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY opened at $398.29 on Wednesday. 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 stock has a 50-day moving average of $425.72 and a two-hundred day moving average of $419.88. The stock has a market cap of $52.62 billion, a P/E ratio of 1,659.54 and a beta of 0.32. Alnylam Pharmaceuticals has a one year low of $205.87 and a one year high of $495.55.

Insider Activity

In other news, CEO Yvonne Greenstreet sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $451.27, for a total transaction of $4,512,700.00. Following the sale, the chief executive officer directly owned 65,409 shares in the company, valued at $29,517,119.43. This trade represents a 13.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 12,128 shares of Alnylam Pharmaceuticals stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $452.18, for a total value of $5,484,039.04. Following the completion of the transaction, the executive vice president owned 21,264 shares of the company’s stock, valued at approximately $9,615,155.52. This represents a 36.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 37,778 shares of company stock worth $17,096,988. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ALNY. Vanguard Group Inc. increased its holdings in Alnylam Pharmaceuticals by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 13,565,452 shares of the biopharmaceutical company’s stock worth $6,185,846,000 after acquiring an additional 268,313 shares in the last quarter. Capital Research Global Investors grew its position in shares of Alnylam Pharmaceuticals by 0.4% in the third quarter. Capital Research Global Investors now owns 7,222,840 shares of the biopharmaceutical company’s stock valued at $3,293,516,000 after purchasing an additional 31,184 shares during the period. Groupama Asset Managment increased its stake in shares of Alnylam Pharmaceuticals by 160.4% during the third quarter. Groupama Asset Managment now owns 4,032,082 shares of the biopharmaceutical company’s stock worth $18,610,000 after purchasing an additional 2,483,697 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Alnylam Pharmaceuticals by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,398,770 shares of the biopharmaceutical company’s stock worth $779,857,000 after purchasing an additional 75,936 shares during the last quarter. Finally, Orbis Allan Gray Ltd lifted its stake in Alnylam Pharmaceuticals by 29.8% in the 2nd quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company’s stock valued at $691,771,000 after buying an additional 486,489 shares in the last quarter. Hedge funds and other institutional investors 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.