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

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective reduced by equities research analysts at Wells Fargo & Company from $256.00 to $253.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 12.04% from the company’s current price.

Several other analysts have also recently weighed in on ALNY. JPMorgan Chase & Co. dropped their price target on shares of Alnylam Pharmaceuticals from $375.00 to $369.00 and set an “overweight” rating for the company in a research note on Wednesday, September 30th. Jefferies Financial Group lifted their price target on shares of Alnylam Pharmaceuticals from $230.00 to $260.00 and gave the company a “hold” rating in a research report on Tuesday, September 8th. HC Wainwright reaffirmed a “buy” rating and set a $455.00 price target on shares of Alnylam Pharmaceuticals in a research report on Monday, September 21st. Sanford C. Bernstein reiterated a “buy” rating on shares of Alnylam Pharmaceuticals in a report on Monday, August 31st. Finally, Bank of America lowered their price objective on Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $366.50.

Alnylam Pharmaceuticals Trading Up 0.9%

Shares of ALNY stock traded up $2.00 on Wednesday, hitting $225.82. 186,211 shares of the stock traded hands, compared to its average volume of 1,435,658. The firm’s 50-day moving average price is $238.83 and its two-hundred day moving average price is $275.95. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.99 and a current ratio of 3.05. The stock has a market capitalization of $30.22 billion, a PE ratio of 41.85 and a beta of 0.28. Alnylam Pharmaceuticals has a twelve month low of $197.81 and a twelve month high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.21. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the business earned ($0.51) earnings per share. Alnylam Pharmaceuticals’s revenue was up 66.9% compared to the same quarter last year. As a group, analysts anticipate that Alnylam Pharmaceuticals will post 6.68 EPS for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In related news, EVP Bryan Supran sold 1,758 shares of the business’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $226.88, for a total transaction of $398,855.04. Following the completion of the transaction, the executive vice president directly owned 12,807 shares of the company’s stock, valued at $2,905,652.16. The trade was a 12.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Bank of Nova Scotia lifted its position in Alnylam Pharmaceuticals by 0.6% in the first quarter. Bank of Nova Scotia now owns 7,798 shares of the biopharmaceutical company’s stock valued at $2,580,000 after acquiring an additional 49 shares during the last quarter. Prestige Wealth Management Group LLC grew its position in Alnylam Pharmaceuticals by 30.6% during the 1st quarter. Prestige Wealth Management Group LLC now owns 226 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 53 shares during the last quarter. Glenmede Trust Co. NA increased its stake in Alnylam Pharmaceuticals by 8.3% in the first 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. MV Capital Management Inc. acquired a new position in Alnylam Pharmaceuticals in the fourth quarter valued at $25,000. Finally, Parallel Advisors LLC raised its holdings in shares of Alnylam Pharmaceuticals by 7.9% in the first quarter. Parallel Advisors LLC now owns 891 shares of the biopharmaceutical company’s stock valued at $295,000 after buying an additional 65 shares during the last quarter. 92.97% of the stock is owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines based on RNA interference (RNAi), a biological process that can selectively reduce the production of disease-causing proteins. The company was founded in 2002 and is headquartered in Cambridge, Massachusetts.

Alnylam’s commercial products include ONPATTRO (patisiran), an RNAi therapy for hereditary transthyretin-mediated amyloidosis with polyneuropathy; GIVLAARI (givosiran), for acute hepatic porphyria; OXLUMO (lumasiran), for primary hyperoxaluria type 1; and AMVUTTRA (vutrisiran), for transthyretin-mediated amyloidosis.