Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $449.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price increased by Piper Sandler from $304.00 to $449.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

ALNY has been the subject of several other research reports. Chardan Capital upped their price objective on shares of Alnylam Pharmaceuticals from $325.00 to $400.00 and gave the company a “buy” rating in a research note on Friday. Needham & Company LLC upped their price objective on shares of Alnylam Pharmaceuticals from $377.00 to $478.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America upped their price objective on shares of Alnylam Pharmaceuticals from $336.00 to $359.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Citigroup upped their price objective on shares of Alnylam Pharmaceuticals from $364.00 to $404.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Alnylam Pharmaceuticals from $338.00 to $348.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. One research 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $392.13.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY stock opened at $401.80 on Friday. The company has a current ratio of 3.04, a quick ratio of 2.98 and a debt-to-equity ratio of 8.88. The firm has a fifty day moving average price of $318.24 and a 200 day moving average price of $279.01. The company has a market cap of $52.67 billion, a P/E ratio of -162.67 and a beta of 0.25. Alnylam Pharmaceuticals has a 12 month low of $205.87 and a 12 month high of $402.43.

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

Insider Transactions at Alnylam Pharmaceuticals

In related news, CEO Yvonne Greenstreet sold 31,640 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $304.39, for a total transaction of $9,630,899.60. Following the completion of the transaction, the chief executive officer directly owned 48,948 shares of the company’s stock, valued at $14,899,281.72. This represents a 39.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. SVB Wealth LLC purchased a new position in Alnylam Pharmaceuticals during the first quarter worth about $27,000. Park Square Financial Group LLC purchased a new position in Alnylam Pharmaceuticals in the fourth quarter valued at about $28,000. Whipplewood Advisors LLC increased its holdings in Alnylam Pharmaceuticals by 208.8% in the first quarter. Whipplewood Advisors LLC now owns 105 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 71 shares in the last quarter. Bessemer Group Inc. increased its holdings in Alnylam Pharmaceuticals by 176.9% in the first quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 69 shares in the last quarter. Finally, Colonial Trust Co SC purchased a new position in Alnylam Pharmaceuticals in the fourth quarter valued at about $35,000. 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.