Alnylam Pharmaceuticals (NASDAQ:ALNY) Hits New 1-Year High Following Better-Than-Expected Earnings

Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) hit a new 52-week high during trading on Friday following a better than expected earnings announcement. The company traded as high as $274.93 and last traded at $273.02, with a volume of 922148 shares trading hands. The stock had previously closed at $268.61.

The biopharmaceutical company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.61. The business had revenue of $659.83 million during the quarter, compared to analysts’ expectations of $447.22 million. The firm’s revenue for the quarter was up 107.0% compared to the same quarter last year. During the same quarter last year, the company earned ($2.21) EPS.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Needham & Company LLC raised their price target on Alnylam Pharmaceuticals from $275.00 to $320.00 and gave the stock a “buy” rating in a report on Friday. SVB Leerink lifted their target price on Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the company a “market perform” rating in a research note on Tuesday, June 25th. BMO Capital Markets restated an “outperform” rating and set a $234.00 price target on shares of Alnylam Pharmaceuticals in a research note on Monday, June 24th. JPMorgan Chase & Co. lifted their price objective on shares of Alnylam Pharmaceuticals from $160.00 to $248.00 and gave the company a “neutral” rating in a research report on Wednesday, July 3rd. Finally, HC Wainwright restated a “buy” rating and set a $400.00 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 given a buy rating to the stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $262.82.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, Director Amy W. Schulman sold 21,700 shares of Alnylam Pharmaceuticals stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $148.60, for a total transaction of $3,224,620.00. Following the completion of the sale, the director now directly owns 8,436 shares in the company, valued at $1,253,589.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Amy W. Schulman sold 21,700 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $148.60, for a total transaction of $3,224,620.00. Following the transaction, the director now directly owns 8,436 shares in the company, valued at $1,253,589.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Yvonne Greenstreet sold 7,093 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $261.00, for a total value of $1,851,273.00. Following the completion of the sale, the chief executive officer now directly owns 73,441 shares in the company, valued at $19,168,101. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,450 shares of company stock worth $15,287,984. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in Alnylam Pharmaceuticals in the fourth quarter valued at $390,438,000. Capital International Investors lifted its stake in shares of Alnylam Pharmaceuticals by 15.8% in the 4th quarter. Capital International Investors now owns 3,586,657 shares of the biopharmaceutical company’s stock valued at $686,641,000 after purchasing an additional 488,814 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Alnylam Pharmaceuticals by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock worth $2,286,181,000 after purchasing an additional 287,064 shares during the period. Capital Research Global Investors grew its holdings in shares of Alnylam Pharmaceuticals by 7.3% during the 1st quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock worth $470,018,000 after purchasing an additional 214,908 shares during the period. Finally, abrdn plc increased its position in Alnylam Pharmaceuticals by 910.7% during the 4th quarter. abrdn plc now owns 232,716 shares of the biopharmaceutical company’s stock worth $44,544,000 after purchasing an additional 209,691 shares in the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Stock Up 1.3 %

The stock has a market cap of $34.41 billion, a PE ratio of -102.16 and a beta of 0.37. The company’s fifty day moving average is $204.12 and its 200 day moving average is $173.44.

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.