Wells Fargo & Company Has Lowered Expectations for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price reduced by investment analysts at Wells Fargo & Company from $316.00 to $256.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 14.71% from the company’s current price.

Several other research analysts have also weighed in on ALNY. Weiss Ratings raised Alnylam Pharmaceuticals from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Sanford C. Bernstein raised Alnylam Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, July 29th. Needham & Company LLC decreased their target price on shares of Alnylam Pharmaceuticals from $510.00 to $357.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Chardan Capital restated a “buy” rating and set a $425.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, July 31st. Finally, Oppenheimer dropped their price target on shares of Alnylam Pharmaceuticals from $500.00 to $350.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $393.86.

Alnylam Pharmaceuticals Stock Down 1.7%

Shares of NASDAQ:ALNY traded down $3.94 during midday trading on Friday, reaching $223.18. The company had a trading volume of 310,395 shares, compared to its average volume of 1,418,360. Alnylam Pharmaceuticals has a 1-year low of $197.81 and a 1-year high of $495.55. The stock has a market cap of $29.86 billion, a PE ratio of 41.49 and a beta of 0.30. The company has a quick ratio of 2.99, a current ratio of 3.05 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average price is $274.35 and its 200 day moving average price is $301.95.

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, Director David E. I. Pyott sold 3,830 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ALNY. Geode Capital Management LLC lifted its holdings in shares of Alnylam Pharmaceuticals by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 2,650,722 shares of the biopharmaceutical company’s stock worth $1,056,884,000 after buying an additional 151,480 shares in the last quarter. Norges Bank acquired a new position in shares of Alnylam Pharmaceuticals in the fourth quarter valued at about $895,816,000. Orbis Allan Gray Ltd grew its stake in shares of Alnylam Pharmaceuticals by 29.8% in the second quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company’s stock valued at $691,771,000 after acquiring an additional 486,489 shares in the last quarter. Legal & General Group Plc increased its position in Alnylam Pharmaceuticals by 8.3% during the fourth quarter. Legal & General Group Plc now owns 961,496 shares of the biopharmaceutical company’s stock worth $382,339,000 after acquiring an additional 73,716 shares during the period. Finally, AQR Capital Management LLC increased its position in Alnylam Pharmaceuticals by 23.6% during the fourth quarter. AQR Capital Management LLC now owns 919,959 shares of the biopharmaceutical company’s stock worth $365,822,000 after acquiring an additional 175,951 shares during the period. Institutional investors own 92.97% of the company’s stock.

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.