Barclays Cuts Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $450.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective reduced by Barclays from $527.00 to $450.00 in a research report sent to investors on Monday,Benzinga reports. Barclays currently has an overweight rating on the biopharmaceutical company’s stock.

ALNY has been the subject of several other research reports. Oppenheimer reduced their target price on shares of Alnylam Pharmaceuticals from $500.00 to $350.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Chardan Capital reiterated a “buy” rating and issued a $425.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, July 31st. Wells Fargo & Company cut their price target on shares of Alnylam Pharmaceuticals from $377.00 to $316.00 and set an “equal weight” rating on the stock in a research report on Friday, July 31st. Wall Street Zen downgraded shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Sunday. Finally, Needham & Company LLC decreased their price objective on Alnylam Pharmaceuticals from $510.00 to $357.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $396.72.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY opened at $228.72 on Monday. The stock has a market capitalization of $30.61 billion, a P/E ratio of 42.51 and a beta of 0.30. Alnylam Pharmaceuticals has a twelve month low of $197.81 and a twelve month high of $495.55. The company has a 50 day moving average of $283.55 and a 200-day moving average of $307.89. The company has a quick ratio of 3.06, a current ratio of 3.05 and a debt-to-equity ratio of 0.75.

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, Director David E. I. Pyott sold 3,830 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $299.18, for a total value of $1,145,859.40. Following the completion of the transaction, the director directly owned 1,582 shares of the company’s stock, valued at approximately $473,302.76. This trade represents a 70.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.86% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position in shares of Alnylam Pharmaceuticals by 20.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 155,695 shares of the biopharmaceutical company’s stock valued at $46,869,000 after acquiring an additional 26,799 shares during the period. Parallel Advisors LLC increased its stake in shares of Alnylam Pharmaceuticals by 7.9% during the 1st quarter. Parallel Advisors LLC now owns 891 shares of the biopharmaceutical company’s stock worth $295,000 after purchasing an additional 65 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in shares of Alnylam Pharmaceuticals by 8.3% in the 1st quarter. Glenmede Trust Co. NA now owns 731 shares of the biopharmaceutical company’s stock valued at $242,000 after purchasing an additional 56 shares during the period. Groupama Asset Managment raised its holdings in shares of Alnylam Pharmaceuticals by 2.5% in the 1st quarter. Groupama Asset Managment now owns 36,767 shares of the biopharmaceutical company’s stock valued at $12,165,000 after purchasing an additional 889 shares during the period. Finally, Segall Bryant & Hamill LLC acquired a new stake in Alnylam Pharmaceuticals in the 1st quarter valued at about $641,000. 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.