Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $248.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price boosted by investment analysts at JPMorgan Chase & Co. from $160.00 to $248.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 0.73% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. SVB Leerink lifted their price target on shares of Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the company a “market perform” rating in a research note on Tuesday, June 25th. Royal Bank of Canada boosted their price target on Alnylam Pharmaceuticals from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 25th. UBS Group raised their target price on shares of Alnylam Pharmaceuticals from $253.00 to $288.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Citigroup upped their target price on shares of Alnylam Pharmaceuticals from $227.00 to $291.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $234.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Monday, June 24th. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $249.95.

Alnylam Pharmaceuticals Stock Performance

Alnylam Pharmaceuticals stock traded down $1.41 during trading hours on Wednesday, hitting $246.20. 143,990 shares of the stock were exchanged, compared to its average volume of 882,251. The stock has a market capitalization of $31.14 billion, a P/E ratio of -92.16 and a beta of 0.37. The business’s 50-day moving average is $163.85 and its two-hundred day moving average is $165.40. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $252.87.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.23. The firm had revenue of $494.33 million during the quarter, compared to analyst estimates of $428.01 million. During the same period last year, the business posted ($1.40) earnings per share. The firm’s quarterly revenue was up 54.8% on a year-over-year basis. On average, equities analysts predict that Alnylam Pharmaceuticals will post -3.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, CMO Pushkal Garg sold 2,103 shares of the firm’s stock in a transaction that occurred 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 sale, the chief marketing officer now owns 15,609 shares of the company’s stock, valued at $3,605,522.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Yvonne Greenstreet sold 8,301 shares of Alnylam Pharmaceuticals stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total transaction of $1,917,447.99. Following the sale, the chief executive officer now directly owns 80,534 shares in the company, valued at $18,602,548.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Pushkal Garg sold 2,103 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $230.99, for a total transaction of $485,771.97. Following the transaction, the chief marketing officer now owns 15,609 shares of the company’s stock, valued at approximately $3,605,522.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,357 shares of company stock worth $13,436,711. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. raised its stake in shares of Alnylam Pharmaceuticals by 30.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 24,570 shares of the biopharmaceutical company’s stock valued at $4,351,000 after purchasing an additional 5,727 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in Alnylam Pharmaceuticals by 19.3% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,594 shares of the biopharmaceutical company’s stock worth $282,000 after purchasing an additional 258 shares in the last quarter. Bank of Nova Scotia grew its position in shares of Alnylam Pharmaceuticals by 18.3% during the 3rd quarter. Bank of Nova Scotia now owns 2,948 shares of the biopharmaceutical company’s stock valued at $522,000 after purchasing an additional 457 shares in the last quarter. Teza Capital Management LLC bought a new position in shares of Alnylam Pharmaceuticals in the third quarter worth $233,000. Finally, Lazard Asset Management LLC raised its position in shares of Alnylam Pharmaceuticals by 1,585.9% in the third quarter. Lazard Asset Management LLC now owns 15,831 shares of the biopharmaceutical company’s stock worth $2,802,000 after buying an additional 14,892 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.