Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $415.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price increased by Canaccord Genuity Group from $390.00 to $415.00 in a report released on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the biopharmaceutical company’s stock.

ALNY has been the topic of several other reports. Piper Sandler increased their target price on shares of Alnylam Pharmaceuticals from $304.00 to $449.00 and gave the stock an “overweight” rating in a report on Friday. Wall Street Zen upgraded shares of Alnylam Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. Needham & Company LLC increased their target price on shares of Alnylam Pharmaceuticals from $377.00 to $478.00 and gave the stock a “buy” rating in a report on Thursday. UBS Group increased their target price on shares of Alnylam Pharmaceuticals from $331.00 to $349.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Finally, Wells Fargo & Company increased their target price on shares of Alnylam Pharmaceuticals from $333.00 to $395.00 and gave the stock an “equal weight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $392.13.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY stock opened at $401.80 on Friday. The firm’s 50 day moving average price is $318.24 and its two-hundred day moving average price is $279.01. The company has a debt-to-equity ratio of 8.88, a quick ratio of 2.98 and a current ratio of 3.04. The stock has a market cap of $52.67 billion, a PE ratio of -162.67 and a beta of 0.25. Alnylam Pharmaceuticals has a 52-week low of $205.87 and a 52-week high of $402.43.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.07). The firm had revenue of $594.19 million during the quarter, compared to analyst estimates of $584.32 million. Alnylam Pharmaceuticals had a negative return on equity of 444.38% and a negative net margin of 12.96%. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.16) earnings per share. As a group, analysts forecast that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Yvonne Greenstreet sold 31,640 shares of the firm’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $304.39, for a total value of $9,630,899.60. Following the completion of the transaction, the chief executive officer owned 48,948 shares of the company’s stock, valued at approximately $14,899,281.72. This trade represents a 39.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ALNY. SVB Wealth LLC bought a new position in shares of Alnylam Pharmaceuticals in the 1st quarter valued at about $27,000. Park Square Financial Group LLC acquired a new position in shares of Alnylam Pharmaceuticals during the 4th quarter worth about $28,000. Whipplewood Advisors LLC increased its stake in shares of Alnylam Pharmaceuticals by 208.8% during the 1st quarter. Whipplewood Advisors LLC now owns 105 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 71 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of Alnylam Pharmaceuticals by 176.9% during the 1st quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 69 shares during the last quarter. Finally, Colonial Trust Co SC acquired a new position in shares of Alnylam Pharmaceuticals during the 4th quarter worth about $35,000. Institutional investors own 92.97% of the company’s stock.

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.