Alnylam Pharmaceuticals (NASDAQ:ALNY) Lifted to “Buy” at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) from a neutral rating to a buy rating in a report issued on Friday, MarketBeat Ratings reports. The Goldman Sachs Group currently has $370.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $198.00.

Several other equities analysts also recently commented on the company. Wells Fargo & Company upped their price objective on Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the company an equal weight rating in a research note on Friday, August 2nd. Chardan Capital reiterated a buy rating and set a $225.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, May 3rd. BMO Capital Markets reissued an outperform rating and issued a $234.00 price objective on shares of Alnylam Pharmaceuticals in a report on Monday, June 24th. Cantor Fitzgerald upped their price objective on shares of Alnylam Pharmaceuticals from $150.00 to $220.00 and gave the company a neutral rating in a report on Monday, July 22nd. Finally, Stifel Nicolaus lifted their target price on shares of Alnylam Pharmaceuticals from $215.00 to $295.00 and gave the stock a buy rating in a research note on Thursday, June 27th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $277.14.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ:ALNY opened at $274.48 on Friday. Alnylam Pharmaceuticals has a 1 year low of $141.98 and a 1 year high of $274.93. The company has a market capitalization of $34.72 billion, a PE ratio of -102.42 and a beta of 0.37. The business has a fifty day moving average price of $232.23 and a two-hundred day moving average price of $180.32.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.61. The company had revenue of $659.83 million for the quarter, compared to the consensus estimate of $447.22 million. Alnylam Pharmaceuticals’s quarterly revenue was up 107.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.21) EPS. Sell-side analysts anticipate that Alnylam Pharmaceuticals will post -3.99 earnings per share for the current year.

Insider Activity

In related news, Director Amy W. Schulman sold 21,700 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were 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 $1,253,589.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alnylam Pharmaceuticals news, Director Amy W. Schulman sold 21,700 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was 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 in the company, valued at $1,253,589.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Yvonne Greenstreet sold 8,301 shares of Alnylam Pharmaceuticals stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total value of $1,917,447.99. Following the sale, the chief executive officer now directly owns 80,534 shares of the company’s stock, valued at approximately $18,602,548.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,848 shares of company stock worth $24,683,444. 1.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC purchased a new stake in Alnylam Pharmaceuticals during the second quarter valued at about $26,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Alnylam Pharmaceuticals by 572.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 143 shares during the last quarter. Altitude Crest Partners Inc. purchased a new stake in Alnylam Pharmaceuticals during the 1st quarter valued at about $30,000. GAMMA Investing LLC bought a new position in Alnylam Pharmaceuticals during the 4th quarter worth approximately $52,000. Finally, V Square Quantitative Management LLC bought a new position in Alnylam Pharmaceuticals during the 4th quarter worth approximately $52,000. 92.97% of the stock is currently 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.