Wells Fargo & Company Boosts Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $333.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price hoisted by equities research analysts at Wells Fargo & Company from $287.00 to $333.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 3.40% from the company’s previous close.

Several other research firms have also weighed in on ALNY. BMO Capital Markets lifted their price objective on shares of Alnylam Pharmaceuticals from $300.00 to $360.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 24th. UBS Group lifted their price target on shares of Alnylam Pharmaceuticals from $331.00 to $349.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Stifel Nicolaus upped their price objective on shares of Alnylam Pharmaceuticals from $300.00 to $345.00 and gave the company a “buy” rating in a research report on Monday, March 31st. JPMorgan Chase & Co. raised their price objective on Alnylam Pharmaceuticals from $330.00 to $338.00 and gave the stock an “overweight” rating in a research note on Thursday, June 12th. Finally, Citigroup boosted their target price on Alnylam Pharmaceuticals from $338.00 to $351.00 and gave the company a “buy” rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $340.00.

Alnylam Pharmaceuticals Price Performance

ALNY opened at $322.06 on Monday. The company has a fifty day moving average price of $289.81 and a two-hundred day moving average price of $264.42. The firm has a market capitalization of $41.99 billion, a PE ratio of -154.10 and a beta of 0.23. Alnylam Pharmaceuticals has a 52 week low of $205.87 and a 52 week high of $327.21. The company has a debt-to-equity ratio of 8.88, a quick ratio of 2.98 and a current ratio of 3.04.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.07). The company had revenue of $594.19 million during the quarter, compared to the consensus estimate of $584.32 million. Alnylam Pharmaceuticals had a negative return on equity of 510.31% and a negative net margin of 11.49%. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.16) earnings per share. As a group, analysts anticipate that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Yvonne Greenstreet sold 19,297 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $306.00, for a total transaction of $5,904,882.00. Following the completion of the transaction, the chief executive officer directly owned 48,948 shares in the company, valued at $14,978,088. This represents a 28.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is owned by company insiders.

Institutional Trading of Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. AG2R LA Mondiale Gestion D Actifs bought a new position in Alnylam Pharmaceuticals in the 1st quarter valued at about $1,573,000. Swedbank AB grew its position in shares of Alnylam Pharmaceuticals by 8.0% during the 1st quarter. Swedbank AB now owns 59,993 shares of the biopharmaceutical company’s stock worth $16,199,000 after purchasing an additional 4,461 shares in the last quarter. Strs Ohio bought a new position in shares of Alnylam Pharmaceuticals during the first quarter worth approximately $7,781,000. Geneos Wealth Management Inc. lifted its holdings in shares of Alnylam Pharmaceuticals by 372.3% during the first quarter. Geneos Wealth Management Inc. now owns 222 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 175 shares during the period. Finally, IFM Investors Pty Ltd grew its stake in shares of Alnylam Pharmaceuticals by 0.6% in the first quarter. IFM Investors Pty Ltd now owns 23,850 shares of the biopharmaceutical company’s stock worth $6,440,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 92.97% of the company’s stock.

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.