Brokerages Set Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Price Target at $298.09

Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) have been given an average recommendation of “Moderate Buy” by the twenty-five brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and nineteen have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $298.61.

Several equities research analysts have recently weighed in on the company. Sanford C. Bernstein cut their target price on Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating on the stock in a research report on Tuesday. TD Cowen raised their price objective on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Chardan Capital restated a “buy” rating and set a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $296.00 target price on shares of Alnylam Pharmaceuticals in a research report on Monday, November 18th. Finally, William Blair reissued an “outperform” rating on shares of Alnylam Pharmaceuticals in a research report on Tuesday, November 19th.

Insider Buying and Selling

In other news, CEO Yvonne Greenstreet sold 5,219 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total transaction of $1,309,864.62. Following the completion of the sale, the chief executive officer now directly owns 78,880 shares in the company, valued at approximately $19,797,302.40. This trade represents a 6.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tolga Tanguler sold 1,469 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total value of $368,689.62. Following the sale, the executive vice president now directly owns 13,191 shares in the company, valued at $3,310,677.18. This trade represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,122 shares of company stock valued at $2,540,455 over the last quarter. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new stake in Alnylam Pharmaceuticals in the 2nd quarter valued at about $26,000. Huntington National Bank lifted its holdings in shares of Alnylam Pharmaceuticals by 91.8% in the third quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 45 shares in the last quarter. Hollencrest Capital Management acquired a new stake in shares of Alnylam Pharmaceuticals in the third quarter valued at approximately $29,000. Washington Trust Advisors Inc. purchased a new position in shares of Alnylam Pharmaceuticals during the 3rd quarter worth approximately $42,000. Finally, True Wealth Design LLC raised its position in shares of Alnylam Pharmaceuticals by 15,300.0% during the 3rd quarter. True Wealth Design LLC now owns 154 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 153 shares during the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Stock Up 1.9 %

Shares of Alnylam Pharmaceuticals stock opened at $240.55 on Friday. Alnylam Pharmaceuticals has a 52-week low of $141.98 and a 52-week high of $304.39. The company has a 50 day moving average of $249.60 and a 200 day moving average of $259.41. The company has a quick ratio of 2.69, a current ratio of 2.75 and a debt-to-equity ratio of 31.64. The company has a market capitalization of $31.03 billion, a P/E ratio of -91.81 and a beta of 0.34.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.36). The company had revenue of $500.90 million for the quarter, compared to analysts’ expectations of $532.91 million. During the same period in the prior year, the firm posted $1.15 EPS. The company’s quarterly revenue was down 33.3% on a year-over-year basis. As a group, research analysts forecast that Alnylam Pharmaceuticals will post -2.21 EPS for the current fiscal year.

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.