Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $357.00

Alnylam Pharmaceuticals (NASDAQ:ALNYFree Report) had its price target upped by Canaccord Genuity Group from $283.00 to $357.00 in a research report released on Monday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the biopharmaceutical company’s stock.

Several other research analysts also recently commented on the company. Evercore ISI lifted 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 reiterated a buy rating and issued a $400.00 price objective on shares of Alnylam Pharmaceuticals in a report on Monday, June 24th. William Blair reiterated an outperform rating on shares of Alnylam Pharmaceuticals in a report on Monday, April 8th. Citigroup lifted their price objective on Alnylam Pharmaceuticals from $227.00 to $291.00 and gave the stock a buy rating in a report on Tuesday, June 25th. Finally, Barclays lifted their price objective on Alnylam Pharmaceuticals from $236.00 to $291.00 and gave the stock an overweight 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.com, the company has an average rating of Moderate Buy and a consensus target price of $253.32.

Read Our Latest Stock Analysis on ALNY

Alnylam Pharmaceuticals Stock Up 1.2 %

NASDAQ ALNY opened at $257.76 on Monday. The stock’s 50-day simple moving average is $176.72 and its two-hundred day simple moving average is $168.37. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $257.97. The company has a market capitalization of $32.60 billion, a price-to-earnings ratio of -96.18 and a beta of 0.37.

Alnylam Pharmaceuticals (NASDAQ:ALNYGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.23. The firm had revenue of $494.33 million for the quarter, compared to analysts’ expectations of $428.01 million. During the same quarter in the previous year, the business earned ($1.40) EPS. The company’s revenue for the quarter was up 54.8% on a year-over-year basis. On average, equities analysts expect that Alnylam Pharmaceuticals will post -3.92 earnings per share for the current fiscal year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, Director Amy W. Schulman sold 21,700 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $148.60, for a total value of $3,224,620.00. Following the sale, the director now directly owns 8,436 shares of the company’s stock, valued at approximately $1,253,589.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Alnylam Pharmaceuticals news, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the business’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 sale, the executive vice president now directly owns 14,181 shares in the company, valued at approximately $3,275,669.19. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Amy W. Schulman sold 21,700 shares of the business’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 sale, the director now owns 8,436 shares of the company’s stock, valued at $1,253,589.60. The disclosure for this sale can be found here. Insiders have sold a total of 67,357 shares of company stock valued at $13,436,711 in the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. CWM LLC raised its stake in Alnylam Pharmaceuticals by 102.8% during the 2nd quarter. CWM LLC now owns 3,492 shares of the biopharmaceutical company’s stock valued at $849,000 after buying an additional 1,770 shares during the last quarter. Fulton Bank N.A. purchased a new stake in Alnylam Pharmaceuticals during the 2nd quarter valued at $247,000. DNB Asset Management AS raised its stake in Alnylam Pharmaceuticals by 4.1% during the 2nd quarter. DNB Asset Management AS now owns 26,015 shares of the biopharmaceutical company’s stock valued at $6,322,000 after buying an additional 1,022 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Alnylam Pharmaceuticals by 97.2% in the 2nd quarter. GAMMA Investing LLC now owns 416 shares of the biopharmaceutical company’s stock worth $101,000 after purchasing an additional 205 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its stake in shares of Alnylam Pharmaceuticals by 8.1% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 33,213 shares of the biopharmaceutical company’s stock worth $4,964,000 after purchasing an additional 2,500 shares in the last quarter. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Alnylam Pharmaceuticals (NASDAQ:ALNY)

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