Citigroup Cuts Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $340.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective lowered by Citigroup from $380.00 to $340.00 in a report published on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Bank of America dropped their price target on shares of Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. JPMorgan Chase & Co. decreased their price objective on shares of Alnylam Pharmaceuticals from $400.00 to $375.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Morgan Stanley lowered their price objective on shares of Alnylam Pharmaceuticals from $400.00 to $300.00 and set an “equal weight” rating for the company in a research note on Friday, July 31st. Barclays dropped their target price on shares of Alnylam Pharmaceuticals from $527.00 to $450.00 and set an “overweight” rating for the company in a report on Monday. Finally, Truist Financial cut their target price on Alnylam Pharmaceuticals from $505.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, July 13th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $396.72.

Alnylam Pharmaceuticals Stock Performance

NASDAQ ALNY opened at $228.72 on Monday. The company has a 50-day simple moving average of $283.55 and a two-hundred day simple 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. Alnylam Pharmaceuticals has a 12-month low of $197.81 and a 12-month high of $495.55. The firm has a market cap of $30.61 billion, a price-to-earnings ratio of 42.51 and a beta of 0.30.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the transaction, the director directly owned 1,582 shares of the company’s stock, valued at approximately $473,302.76. The trade was a 70.77% decrease in their position. The sale was disclosed in a document filed 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. 0.86% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. iA Global Asset Management Inc. raised its stake in Alnylam Pharmaceuticals by 979.5% during the fourth quarter. iA Global Asset Management Inc. now owns 17,780 shares of the biopharmaceutical company’s stock valued at $7,070,000 after buying an additional 16,133 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter worth $2,505,000. GF Fund Management CO. LTD. increased its holdings in shares of Alnylam Pharmaceuticals by 989.1% during the fourth quarter. GF Fund Management CO. LTD. now owns 30,462 shares of the biopharmaceutical company’s stock valued at $12,113,000 after acquiring an additional 27,665 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Alnylam Pharmaceuticals by 22.6% during the fourth quarter. Hsbc Holdings PLC now owns 89,517 shares of the biopharmaceutical company’s stock valued at $35,675,000 after acquiring an additional 16,503 shares in the last quarter. Finally, Brighton Jones LLC purchased a new position in shares of Alnylam Pharmaceuticals in the 4th quarter worth about $243,000. 92.97% of the stock is owned by hedge funds and other institutional investors.

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.