Bank of America Issues Pessimistic Forecast for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price dropped by analysts at Bank of America from $529.00 to $462.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s price objective would suggest a potential upside of 33.22% from the company’s previous close.

A number of other equities analysts have also commented on ALNY. Weiss Ratings raised shares of Alnylam Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, January 15th. Piper Sandler reiterated an “overweight” rating and issued a $489.00 price target (up from $449.00) on shares of Alnylam Pharmaceuticals in a research report on Friday, October 31st. Raymond James Financial reissued an “outperform” rating and set a $472.00 price target on shares of Alnylam Pharmaceuticals in a research report on Monday, January 12th. Wells Fargo & Company dropped their price objective on Alnylam Pharmaceuticals from $479.00 to $376.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. Finally, Needham & Company LLC increased their target price on Alnylam Pharmaceuticals from $520.00 to $529.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $479.92.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ ALNY opened at $346.79 on Friday. The firm has a market cap of $45.81 billion, a P/E ratio of 1,444.96 and a beta of 0.32. The business’s 50 day moving average is $401.57 and its 200-day moving average is $423.47. The company has a current ratio of 2.54, a quick ratio of 2.49 and a debt-to-equity ratio of 4.45. Alnylam Pharmaceuticals has a 1-year low of $205.87 and a 1-year high of $495.55.

Insiders Place Their Bets

In related news, EVP Pushkal Garg sold 1,510 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $362.87, for a total transaction of $547,933.70. Following the sale, the executive vice president directly owned 22,511 shares of the company’s stock, valued at approximately $8,168,566.57. The trade was a 6.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeffrey V. Poulton sold 2,780 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $362.87, for a total transaction of $1,008,778.60. Following the transaction, the executive vice president owned 57,465 shares of the company’s stock, valued at approximately $20,852,324.55. This represents a 4.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 56,955 shares of company stock valued at $24,072,733 over the last ninety days. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. OFI Invest Asset Management grew its position in Alnylam Pharmaceuticals by 5.8% during the 3rd quarter. OFI Invest Asset Management now owns 403 shares of the biopharmaceutical company’s stock worth $184,000 after acquiring an additional 22 shares during the last quarter. Howard Capital Management Inc. grew its holdings in shares of Alnylam Pharmaceuticals by 2.9% during the third quarter. Howard Capital Management Inc. now owns 854 shares of the biopharmaceutical company’s stock worth $389,000 after purchasing an additional 24 shares during the last quarter. Frank Rimerman Advisors LLC increased its stake in shares of Alnylam Pharmaceuticals by 2.0% in the third quarter. Frank Rimerman Advisors LLC now owns 1,251 shares of the biopharmaceutical company’s stock valued at $570,000 after buying an additional 24 shares during the period. Coastal Bridge Advisors LLC increased its stake in shares of Alnylam Pharmaceuticals by 2.3% in the third quarter. Coastal Bridge Advisors LLC now owns 1,097 shares of the biopharmaceutical company’s stock valued at $500,000 after buying an additional 25 shares during the period. Finally, Meridian Financial Advisors LLC raised its holdings in Alnylam Pharmaceuticals by 3.5% in the 3rd quarter. Meridian Financial Advisors LLC now owns 828 shares of the biopharmaceutical company’s stock valued at $378,000 after buying an additional 28 shares during the last quarter. 92.97% of the stock is currently 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.