Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $287.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price raised by investment analysts at Wells Fargo & Company from $275.00 to $287.00 in a report released on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 13.17% from the stock’s current price.

Several other brokerages have also recently issued reports on ALNY. Needham & Company LLC reiterated a “buy” rating and set a $320.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday. William Blair restated an “outperform” rating on shares of Alnylam Pharmaceuticals in a report on Wednesday, February 26th. Canaccord Genuity Group upped their price objective on shares of Alnylam Pharmaceuticals from $384.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Royal Bank of Canada restated an “outperform” rating and issued a $310.00 price objective on shares of Alnylam Pharmaceuticals in a report on Wednesday, February 26th. Finally, HC Wainwright upped their price objective on shares of Alnylam Pharmaceuticals from $400.00 to $500.00 and gave the stock a “buy” rating in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $307.09.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ ALNY opened at $253.60 on Friday. Alnylam Pharmaceuticals has a 1 year low of $141.98 and a 1 year high of $304.39. The company has a debt-to-equity ratio of 15.27, a current ratio of 2.78 and a quick ratio of 2.71. The company’s 50-day moving average is $256.25 and its 200 day moving average is $259.51. The stock has a market capitalization of $32.83 billion, a P/E ratio of -116.87 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.03). On average, sell-side analysts expect that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, EVP Kevin Joseph Fitzgerald sold 663 shares of Alnylam Pharmaceuticals stock in a transaction on Friday, February 14th. The shares were sold at an average price of $255.21, for a total value of $169,204.23. Following the sale, the executive vice president now directly owns 14,321 shares in the company, valued at approximately $3,654,862.41. The trade was a 4.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Yvonne Greenstreet sold 1,213 shares of Alnylam Pharmaceuticals stock in a transaction on Friday, February 14th. The shares were sold at an average price of $255.17, for a total transaction of $309,521.21. Following the completion of the sale, the chief executive officer now owns 81,526 shares in the company, valued at approximately $20,802,989.42. This represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,234 shares of company stock worth $19,958,097 over the last quarter. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC bought a new stake in Alnylam Pharmaceuticals in the 4th quarter valued at $61,160,000. Strategic Financial Concepts LLC bought a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter worth about $41,529,000. Truist Financial Corp increased its holdings in shares of Alnylam Pharmaceuticals by 136.6% in the 4th quarter. Truist Financial Corp now owns 4,398 shares of the biopharmaceutical company’s stock worth $1,035,000 after buying an additional 2,539 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Alnylam Pharmaceuticals by 3.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 286,703 shares of the biopharmaceutical company’s stock worth $67,464,000 after buying an additional 8,462 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Alnylam Pharmaceuticals by 13.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 19,918 shares of the biopharmaceutical company’s stock worth $4,687,000 after buying an additional 2,285 shares during the last quarter. 92.97% of the stock is currently owned by institutional investors.

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.