Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $325.00 at Bank of America

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective boosted by Bank of America from $302.00 to $325.00 in a research note issued to investors on Friday,Benzinga reports. Bank of America currently has a buy rating on the biopharmaceutical company’s stock.

A number of other analysts have also recently weighed in on the stock. HC Wainwright boosted their price objective on shares of Alnylam Pharmaceuticals from $400.00 to $500.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. William Blair restated an “outperform” rating on shares of Alnylam Pharmaceuticals in a research note on Wednesday, February 26th. Morgan Stanley boosted their price objective on shares of Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Royal Bank of Canada restated an “outperform” rating and issued a $310.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Wednesday, February 26th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $300.00 target price on shares of Alnylam Pharmaceuticals in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $310.22.

Alnylam Pharmaceuticals Stock Performance

Alnylam Pharmaceuticals stock opened at $283.34 on Friday. The firm’s 50 day simple moving average is $257.16 and its 200-day simple moving average is $259.65. The company has a market cap of $36.68 billion, a P/E ratio of -130.57 and a beta of 0.39. The company has a debt-to-equity ratio of 15.27, a current ratio of 2.78 and a quick ratio of 2.71. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.03). As a group, equities research analysts predict that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CMO Pushkal Garg sold 52,592 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $285.00, for a total transaction of $14,988,720.00. Following the transaction, the chief marketing officer now directly owns 11,989 shares in the company, valued at approximately $3,416,865. This represents a 81.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kevin Joseph Fitzgerald sold 1,440 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $251.56, for a total transaction of $362,246.40. Following the transaction, the executive vice president now owns 12,881 shares in the company, valued at approximately $3,240,344.36. The trade was a 10.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,234 shares of company stock worth $19,958,097. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of ALNY. Regeneron Pharmaceuticals Inc. bought a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter valued at about $1,045,822,000. Norges Bank bought a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter valued at about $577,941,000. Capital Research Global Investors increased its stake in shares of Alnylam Pharmaceuticals by 32.9% in the 4th quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company’s stock valued at $1,639,767,000 after acquiring an additional 1,724,610 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Alnylam Pharmaceuticals by 39.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company’s stock valued at $1,031,705,000 after acquiring an additional 1,245,195 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Alnylam Pharmaceuticals by 496.6% in the 4th quarter. Marshall Wace LLP now owns 378,649 shares of the biopharmaceutical company’s stock valued at $89,100,000 after acquiring an additional 315,182 shares during the last quarter. 92.97% of the stock is owned by institutional investors.

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.