Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $233.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective hoisted by Wells Fargo & Company from $207.00 to $233.00 in a report issued on Friday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently issued reports on ALNY. Royal Bank of Canada boosted their price objective on Alnylam Pharmaceuticals from $265.00 to $300.00 and gave the stock an outperform rating in a report on Friday. Evercore ISI boosted their price objective on Alnylam Pharmaceuticals from $210.00 to $260.00 and gave the stock an outperform rating in a report on Tuesday, June 25th. HC Wainwright restated a buy rating and set a $400.00 price objective on shares of Alnylam Pharmaceuticals in a report on Monday, June 24th. Stifel Nicolaus boosted their price objective on Alnylam Pharmaceuticals from $215.00 to $295.00 and gave the stock a buy rating in a report on Thursday, June 27th. Finally, Bank of America boosted their price objective on Alnylam Pharmaceuticals from $248.00 to $295.00 and gave the stock a buy rating in a report on Tuesday, June 25th. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Alnylam Pharmaceuticals presently has an average rating of Moderate Buy and a consensus target price of $269.32.

Alnylam Pharmaceuticals Stock Performance

Alnylam Pharmaceuticals stock opened at $265.00 on Friday. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $274.93. The stock has a market capitalization of $33.52 billion, a P/E ratio of -98.88 and a beta of 0.37. The stock has a 50-day simple moving average of $211.34 and a 200 day simple moving average of $175.01.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.61. The business had revenue of $659.83 million for the quarter, compared to the consensus estimate of $447.22 million. During the same quarter in the previous year, the business posted ($2.21) EPS. The company’s revenue for the quarter was up 107.0% on a year-over-year basis. Research analysts forecast that Alnylam Pharmaceuticals will post -3.99 earnings per share for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 8,301 shares of the business’s 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 $1,917,447.99. Following the completion of the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. In other news, Director Amy W. Schulman sold 21,700 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 8,436 shares in the company, valued at $1,253,589.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Yvonne Greenstreet sold 8,301 shares of the company’s 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 transaction, the chief executive officer now owns 80,534 shares of the company’s stock, valued at $18,602,548.66. The disclosure for this sale can be found here. Insiders sold a total of 89,598 shares of company stock worth $19,377,944 over the last three months. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Arizona State Retirement System increased its holdings in shares of Alnylam Pharmaceuticals by 0.6% during the second quarter. Arizona State Retirement System now owns 34,736 shares of the biopharmaceutical company’s stock worth $8,441,000 after buying an additional 219 shares in the last quarter. ANTIPODES PARTNERS Ltd increased its holdings in shares of Alnylam Pharmaceuticals by 16.1% during the second quarter. ANTIPODES PARTNERS Ltd now owns 238,749 shares of the biopharmaceutical company’s stock worth $59,432,000 after buying an additional 33,170 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Alnylam Pharmaceuticals by 6.0% during the second quarter. TD Asset Management Inc now owns 489,940 shares of the biopharmaceutical company’s stock worth $119,055,000 after buying an additional 27,592 shares in the last quarter. JGP Global Gestao de Recursos Ltda. acquired a new position in shares of Alnylam Pharmaceuticals during the second quarter worth $300,000. Finally, CIBC Asset Management Inc increased its holdings in shares of Alnylam Pharmaceuticals by 5.6% during the second quarter. CIBC Asset Management Inc now owns 4,249 shares of the biopharmaceutical company’s stock worth $1,033,000 after buying an additional 227 shares in the last quarter. 92.97% of the stock is currently owned by institutional investors and hedge funds.

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.