Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $357.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target hoisted by Canaccord Genuity Group from $283.00 to $357.00 in a report published on Monday morning, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

ALNY has been the subject of a number of other reports. TD Cowen raised their price objective on Alnylam Pharmaceuticals from $260.00 to $282.00 and gave the company a buy rating in a research report on Tuesday, June 25th. William Blair reiterated an outperform rating on shares of Alnylam Pharmaceuticals in a research note on Monday, April 8th. Wells Fargo & Company boosted their target price on Alnylam Pharmaceuticals from $161.00 to $207.00 and gave the stock an equal weight rating in a research note on Tuesday, June 25th. Morgan Stanley boosted their price objective on Alnylam Pharmaceuticals from $164.00 to $250.00 and gave the stock an equal weight rating in a research report on Tuesday, June 25th. Finally, Cantor Fitzgerald reissued a neutral rating and set a $150.00 target price on shares of Alnylam Pharmaceuticals in a report on Monday, July 1st. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $253.32.

Alnylam Pharmaceuticals Stock Up 1.3 %

Alnylam Pharmaceuticals stock opened at $261.02 on Monday. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $262.82. The company has a 50 day moving average of $178.94 and a 200-day moving average of $169.02. The stock has a market capitalization of $33.02 billion, a PE ratio of -97.40 and a beta of 0.37.

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

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, EVP Kevin Joseph Fitzgerald sold 1,198 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $230.99, for a total transaction of $276,726.02. Following the transaction, the executive vice president now owns 14,181 shares of the company’s stock, valued at approximately $3,275,669.19. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $230.99, for a total value of $276,726.02. Following the transaction, the executive vice president now directly owns 14,181 shares of the company’s stock, valued at approximately $3,275,669.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Pushkal Garg sold 2,103 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total transaction of $485,771.97. Following the sale, 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 ninety days, insiders sold 67,357 shares of company stock valued at $13,436,711. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ANTIPODES PARTNERS Ltd increased its position in shares of 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 buying an additional 77,307 shares during the period. Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 287,064 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of 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. Quattro Financial Advisors LLC raised its holdings in shares of Alnylam Pharmaceuticals by 2,517.8% during the first quarter. Quattro Financial Advisors LLC now owns 5,000 shares of the biopharmaceutical company’s stock valued at $747,000 after acquiring an additional 4,809 shares in the last quarter. Finally, Westpac Banking Corp raised its holdings in Alnylam Pharmaceuticals by 59.8% in the 4th quarter. Westpac Banking Corp now owns 1,512 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 566 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.