Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $329.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price raised by Barclays from $295.00 to $329.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued research reports about the company. Citigroup increased their price target on Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Morgan Stanley raised their price target on Alnylam Pharmaceuticals from $250.00 to $255.00 and gave the stock an “equal weight” rating in a research report on Friday, July 12th. Bank of America boosted their price target on Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Canaccord Genuity Group increased their price objective on shares of Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the stock a “buy” rating in a research note on Friday. Finally, HC Wainwright reissued a “buy” rating and issued a $400.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, October 18th. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $294.50.

Alnylam Pharmaceuticals Stock Performance

Shares of Alnylam Pharmaceuticals stock opened at $273.91 on Friday. The firm has a 50-day moving average of $274.61 and a 200-day moving average of $226.42. Alnylam Pharmaceuticals has a 52-week low of $141.98 and a 52-week high of $304.39. The stock has a market cap of $35.16 billion, a PE ratio of -104.55 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.36). The business had revenue of $500.90 million for the quarter, compared to analyst estimates of $532.91 million. During the same period last year, the business earned $1.15 EPS. The firm’s quarterly revenue was down 33.3% on a year-over-year basis. Equities research analysts predict that Alnylam Pharmaceuticals will post -2.74 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Dennis A. Ausiello sold 20,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $262.00, for a total value of $5,305,500.00. Following the completion of the transaction, the director now owns 136 shares in the company, valued at $35,632. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Dennis A. Ausiello sold 20,250 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $262.00, for a total value of $5,305,500.00. Following the sale, the director now owns 136 shares of the company’s stock, valued at $35,632. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Yvonne Greenstreet sold 15,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total value of $4,200,000.00. Following the transaction, the chief executive officer now directly owns 73,441 shares of the company’s stock, valued at approximately $20,563,480. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Research Global Investors raised its holdings in Alnylam Pharmaceuticals by 7.3% during the 1st quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock worth $470,018,000 after purchasing an additional 214,908 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Alnylam Pharmaceuticals by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock worth $550,837,000 after buying an additional 201,784 shares during the period. AQR Capital Management LLC raised its stake in Alnylam Pharmaceuticals by 92.5% during the second quarter. AQR Capital Management LLC now owns 271,619 shares of the biopharmaceutical company’s stock worth $65,862,000 after buying an additional 130,482 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Alnylam Pharmaceuticals in the first quarter valued at $18,886,000. Finally, Deerfield Management Company L.P. Series C bought a new stake in Alnylam Pharmaceuticals during the second quarter valued at $29,111,000. 92.97% of the stock is owned by institutional investors and hedge funds.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.