Analysts Set Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Target Price at $319.17

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) has earned an average rating of “Moderate Buy” from the twenty-six research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and twenty-one have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $319.17.

A number of brokerages recently commented on ALNY. JPMorgan Chase & Co. upgraded shares of Alnylam Pharmaceuticals from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $280.00 to $328.00 in a research report on Monday, March 24th. Citigroup lifted their price objective on Alnylam Pharmaceuticals from $338.00 to $351.00 and gave the stock a “buy” rating in a report on Friday, March 21st. HC Wainwright reissued a “buy” rating and issued a $500.00 target price on shares of Alnylam Pharmaceuticals in a research note on Wednesday, April 2nd. UBS Group increased their target price on Alnylam Pharmaceuticals from $331.00 to $349.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, Wells Fargo & Company raised their price target on Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the stock an “equal weight” rating in a research report on Friday, March 21st.

Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ ALNY opened at $300.83 on Wednesday. The stock’s 50-day moving average is $264.17 and its 200 day moving average is $257.14. The stock has a market cap of $39.22 billion, a price-to-earnings ratio of -138.63 and a beta of 0.17. Alnylam Pharmaceuticals has a 1-year low of $147.25 and a 1-year high of $310.22. The company has a current ratio of 2.78, a quick ratio of 2.71 and a debt-to-equity ratio of 15.27.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.07). The business had revenue of $594.19 million during the quarter, compared to analyst estimates of $584.32 million. Alnylam Pharmaceuticals’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.16) earnings per share. On average, sell-side analysts anticipate that Alnylam Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Yvonne Greenstreet sold 19,297 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $306.00, for a total transaction of $5,904,882.00. Following the sale, the chief executive officer now owns 48,948 shares in the company, valued at approximately $14,978,088. The trade was a 28.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ALNY. Allworth Financial LP grew its holdings in Alnylam Pharmaceuticals by 6.8% in the fourth quarter. Allworth Financial LP now owns 597 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 38 shares during the period. Bayforest Capital Ltd boosted its position in shares of Alnylam Pharmaceuticals by 14.6% in the 1st quarter. Bayforest Capital Ltd now owns 306 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 39 shares in the last quarter. Investment Management Corp of Ontario grew its stake in shares of Alnylam Pharmaceuticals by 0.6% in the 4th quarter. Investment Management Corp of Ontario now owns 7,099 shares of the biopharmaceutical company’s stock worth $1,670,000 after buying an additional 40 shares during the last quarter. Nixon Peabody Trust Co. increased its position in Alnylam Pharmaceuticals by 1.9% during the 4th quarter. Nixon Peabody Trust Co. now owns 2,293 shares of the biopharmaceutical company’s stock valued at $540,000 after buying an additional 43 shares in the last quarter. Finally, Brevan Howard Capital Management LP increased its position in Alnylam Pharmaceuticals by 3.4% during the 4th quarter. Brevan Howard Capital Management LP now owns 1,333 shares of the biopharmaceutical company’s stock valued at $314,000 after buying an additional 44 shares in the last quarter. 92.97% of the stock is owned by hedge funds and other institutional investors.

About Alnylam Pharmaceuticals

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.