Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $460.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective lifted by Barclays from $329.00 to $460.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets boosted their target price on Alnylam Pharmaceuticals from $300.00 to $360.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 24th. Chardan Capital boosted their target price on Alnylam Pharmaceuticals from $325.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group boosted their target price on Alnylam Pharmaceuticals from $331.00 to $349.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Truist Financial initiated coverage on Alnylam Pharmaceuticals in a research report on Monday, July 21st. They issued a “buy” rating and a $385.00 target price on the stock. Finally, Piper Sandler boosted their target price on Alnylam Pharmaceuticals from $304.00 to $449.00 and gave the stock an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $392.13.

Alnylam Pharmaceuticals Price Performance

Shares of Alnylam Pharmaceuticals stock opened at $401.80 on Friday. The stock’s 50-day simple moving average is $318.24 and its 200-day simple moving average is $279.01. Alnylam Pharmaceuticals has a 52 week low of $205.87 and a 52 week high of $402.43. The company has a market capitalization of $52.67 billion, a price-to-earnings ratio of -162.67 and a beta of 0.25. The company has a quick ratio of 2.98, a current ratio of 3.04 and a debt-to-equity ratio of 8.88.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($0.44) 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 business had revenue of $594.19 million during the quarter, compared to analysts’ expectations of $584.32 million. During the same quarter in the previous year, the firm earned ($0.16) earnings per share. Alnylam Pharmaceuticals’s revenue was up 20.2% on a year-over-year basis. As a group, analysts expect 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 that occurred on Friday, May 30th. The stock was sold at an average price of $304.39, for a total value of $9,630,899.60. Following the transaction, the chief executive officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capital World Investors grew its stake in Alnylam Pharmaceuticals by 0.6% in the fourth quarter. Capital World Investors now owns 16,600,525 shares of the biopharmaceutical company’s stock worth $3,906,284,000 after purchasing an additional 92,101 shares in the last quarter. Vanguard Group Inc. grew its stake in Alnylam Pharmaceuticals by 2.5% in the first quarter. Vanguard Group Inc. now owns 13,056,605 shares of the biopharmaceutical company’s stock worth $3,525,544,000 after purchasing an additional 323,206 shares in the last quarter. Capital Research Global Investors grew its stake in Alnylam Pharmaceuticals by 32.9% in the fourth quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company’s stock worth $1,639,767,000 after purchasing an additional 1,724,610 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Alnylam Pharmaceuticals by 0.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,418,145 shares of the biopharmaceutical company’s stock worth $1,192,988,000 after purchasing an additional 33,696 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Alnylam Pharmaceuticals by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,505,168 shares of the biopharmaceutical company’s stock worth $946,466,000 after purchasing an additional 185,783 shares in the last quarter. 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.