Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $478.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price raised by Needham & Company LLC from $377.00 to $478.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other equities analysts also recently issued reports on the stock. Citigroup lifted their price target on shares of Alnylam Pharmaceuticals from $364.00 to $404.00 and gave the company a “buy” rating in a report on Friday, July 11th. UBS Group lifted their price target on shares of Alnylam Pharmaceuticals from $331.00 to $349.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Wall Street Zen raised shares of Alnylam Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. Truist Financial started coverage on shares of Alnylam Pharmaceuticals in a research report on Monday, July 21st. They set a “buy” rating and a $385.00 price target on the stock. Finally, Bank of America upped their price target on shares of Alnylam Pharmaceuticals from $336.00 to $359.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $392.13.

Alnylam Pharmaceuticals Trading Up 2.4%

Shares of Alnylam Pharmaceuticals stock opened at $401.80 on Thursday. The firm has a market capitalization of $52.39 billion, a PE ratio of -162.67 and a beta of 0.25. The company has a debt-to-equity ratio of 8.88, a current ratio of 3.04 and a quick ratio of 2.98. The company’s fifty day moving average price is $318.24 and its two-hundred day moving average price is $278.80. Alnylam Pharmaceuticals has a 52-week low of $205.87 and a 52-week high of $402.43.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly 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). Alnylam Pharmaceuticals had a negative net margin of 12.96% and a negative return on equity of 444.38%. The firm had revenue of $594.19 million for the quarter, compared to the consensus estimate of $584.32 million. During the same period in the prior year, the business earned ($0.16) earnings per share. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, analysts expect that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 19,297 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $306.00, for a total transaction of $5,904,882.00. Following the completion of the sale, the chief executive officer owned 48,948 shares of the company’s stock, valued at $14,978,088. This trade represents a 28.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. Bayforest Capital Ltd lifted its holdings in Alnylam Pharmaceuticals by 14.6% during the 1st quarter. Bayforest Capital Ltd now owns 306 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 39 shares during the last quarter. Investment Management Corp of Ontario lifted its holdings in Alnylam Pharmaceuticals by 0.6% during the 4th quarter. Investment Management Corp of Ontario now owns 7,099 shares of the biopharmaceutical company’s stock valued at $1,670,000 after purchasing an additional 40 shares during the last quarter. Brevan Howard Capital Management LP lifted its holdings 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 purchasing an additional 44 shares during the last quarter. Fulton Bank N.A. lifted its holdings in Alnylam Pharmaceuticals by 3.3% during the 2nd quarter. Fulton Bank N.A. now owns 1,421 shares of the biopharmaceutical company’s stock valued at $463,000 after purchasing an additional 46 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Alnylam Pharmaceuticals by 10.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 525 shares of the biopharmaceutical company’s stock valued at $142,000 after purchasing an additional 49 shares during the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

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.