Brokerages Set Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Target Price at $278.59

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) has received a consensus rating of “Moderate Buy” from the twenty-four analysts that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $279.14.

Several equities analysts recently issued reports on the company. Canaccord Genuity Group upped their target price on Alnylam Pharmaceuticals from $357.00 to $366.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. The Goldman Sachs Group raised Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price objective for the company from $198.00 to $370.00 in a report on Friday, August 16th. BMO Capital Markets reaffirmed an “outperform” rating and set a $234.00 target price on shares of Alnylam Pharmaceuticals in a report on Monday, June 24th. Bank of America increased their price target on shares of Alnylam Pharmaceuticals from $295.00 to $307.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price target on shares of Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 14,181 shares in the company, valued at $3,275,669.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director David E. I. Pyott sold 32,450 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $220.69, for a total value of $7,161,390.50. Following the completion of the sale, the director now directly owns 136 shares in the company, valued at $30,013.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kevin Joseph Fitzgerald sold 1,198 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 $276,726.02. Following the completion of the sale, the executive vice president now owns 14,181 shares of the company’s stock, valued at $3,275,669.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,148 shares of company stock worth $25,658,824. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its position in shares of Alnylam Pharmaceuticals by 572.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 143 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Alnylam Pharmaceuticals in the second quarter valued at about $26,000. Altitude Crest Partners Inc. acquired a new stake in shares of Alnylam Pharmaceuticals in the first quarter valued at about $30,000. Robeco Institutional Asset Management B.V. raised its position in shares of Alnylam Pharmaceuticals by 155.7% in 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 buying an additional 12,513 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter valued at about $52,000. 92.97% of the stock is currently owned by institutional investors and hedge funds.

Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ ALNY opened at $246.78 on Monday. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $287.55. The company has a market cap of $31.22 billion, a PE ratio of -92.08 and a beta of 0.37. The business has a 50-day simple moving average of $257.35 and a two-hundred day simple moving average of $190.99.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.74) by $0.61. The company had revenue of $659.83 million for the quarter, compared to analysts’ expectations of $447.22 million. The firm’s revenue for the quarter was up 107.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($2.21) EPS. On average, sell-side analysts predict that Alnylam Pharmaceuticals will post -2.82 earnings per share for the current fiscal year.

Alnylam Pharmaceuticals Company Profile

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.