Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $295.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective increased by Bank of America from $248.00 to $295.00 in a report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other brokerages have also weighed in on ALNY. SVB Leerink lifted their price objective on Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the stock a market perform rating in a research report on Tuesday. BMO Capital Markets reiterated an outperform rating and issued a $234.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Monday. HC Wainwright reiterated a buy rating and issued a $400.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Monday. William Blair restated an outperform rating on shares of Alnylam Pharmaceuticals in a research report on Monday, April 8th. Finally, Canaccord Genuity Group restated a buy rating and set a $283.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday, June 21st. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Alnylam Pharmaceuticals currently has an average rating of Moderate Buy and an average price target of $245.14.

Alnylam Pharmaceuticals Price Performance

Shares of Alnylam Pharmaceuticals stock opened at $247.00 on Tuesday. The business’s 50 day simple moving average is $157.89 and its two-hundred day simple moving average is $164.23. The stock has a market capitalization of $31.24 billion, a P/E ratio of -92.16 and a beta of 0.30. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $252.87.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.23. The business had revenue of $494.33 million during the quarter, compared to the consensus estimate of $428.01 million. Alnylam Pharmaceuticals’s quarterly revenue was up 54.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.40) earnings per share. Sell-side analysts expect that Alnylam Pharmaceuticals will post -3.75 earnings per share for the current fiscal year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, CMO Pushkal Garg sold 2,103 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total value of $485,771.97. Following the completion of the transaction, the chief marketing officer now owns 15,609 shares in the company, valued at $3,605,522.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CMO Pushkal Garg sold 2,103 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total value of $485,771.97. Following the completion of the transaction, the chief marketing officer now owns 15,609 shares in the company, valued at $3,605,522.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total value of $276,726.02. Following the completion of the transaction, the executive vice president now owns 14,181 shares of the company’s stock, valued at approximately $3,275,669.19. The disclosure for this sale can be found here. Insiders sold 67,357 shares of company stock worth $13,436,711 over the last quarter. 1.50% of the stock is currently owned by insiders.

Institutional Trading of Alnylam Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. ANTIPODES PARTNERS Ltd increased its position in Alnylam Pharmaceuticals by 69.1% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 189,141 shares of the biopharmaceutical company’s stock valued at $36,203,000 after acquiring an additional 77,307 shares during the last quarter. Vanguard Group Inc. increased its position in Alnylam Pharmaceuticals by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock valued at $2,286,181,000 after acquiring an additional 287,064 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Alnylam Pharmaceuticals by 155.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 20,549 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 12,513 shares during the last quarter. Westpac Banking Corp increased its position in Alnylam Pharmaceuticals by 59.8% during the fourth quarter. Westpac Banking Corp now owns 1,512 shares of the biopharmaceutical company’s stock valued at $289,000 after acquiring an additional 566 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in Alnylam Pharmaceuticals by 630.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 26,160 shares of the biopharmaceutical company’s stock valued at $5,007,000 after acquiring an additional 22,580 shares during the last quarter. Hedge funds and other 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.