Alnylam Pharmaceuticals (NASDAQ:ALNY) Shares Gap Up After Analyst Upgrade

Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) gapped up before the market opened on Friday after Citigroup raised their price target on the stock from $338.00 to $351.00. The stock had previously closed at $253.55, but opened at $261.82. Citigroup currently has a buy rating on the stock. Alnylam Pharmaceuticals shares last traded at $274.34, with a volume of 692,627 shares traded.

A number of other research analysts have also recently commented on ALNY. StockNews.com cut shares of Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday. 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 research report on Monday, February 24th. Canaccord Genuity Group raised their target price on shares of Alnylam Pharmaceuticals from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley boosted their target price on shares of Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Finally, Scotiabank increased their price target on Alnylam Pharmaceuticals from $300.00 to $338.00 and gave the company a “sector outperform” rating in a research note on Friday. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $310.22.

Insider Transactions at Alnylam Pharmaceuticals

In related news, CEO Yvonne Greenstreet sold 1,213 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was 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 of the company’s stock, valued at $20,802,989.42. This trade represents a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Phillip A. Sharp sold 11,250 shares of Alnylam Pharmaceuticals stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $275.00, for a total transaction of $3,093,750.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,234 shares of company stock worth $19,958,097. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in Alnylam Pharmaceuticals by 6.8% in the fourth quarter. Allworth Financial LP now owns 597 shares of the biopharmaceutical company’s stock valued at $140,000 after acquiring an additional 38 shares during the period. Investment Management Corp of Ontario lifted its holdings in shares of Alnylam Pharmaceuticals by 0.6% in the 4th quarter. Investment Management Corp of Ontario now owns 7,099 shares of the biopharmaceutical company’s stock worth $1,670,000 after purchasing an additional 40 shares in the last quarter. Nixon Peabody Trust Co. grew its position in Alnylam Pharmaceuticals by 1.9% in the 4th quarter. Nixon Peabody Trust Co. now owns 2,293 shares of the biopharmaceutical company’s stock valued at $540,000 after purchasing an additional 43 shares during the period. Brevan Howard Capital Management LP increased its stake in Alnylam Pharmaceuticals by 3.4% during the 4th quarter. Brevan Howard Capital Management LP now owns 1,333 shares of the biopharmaceutical company’s stock valued at $314,000 after purchasing an additional 44 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in Alnylam Pharmaceuticals by 24.2% during the 4th quarter. IFP Advisors Inc now owns 241 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 47 shares in the last quarter. 92.97% of the stock is owned by institutional investors.

Alnylam Pharmaceuticals Stock Performance

The stock has a market cap of $36.68 billion, a price-to-earnings ratio of -130.57 and a beta of 0.39. The company’s fifty day simple moving average is $257.16 and its two-hundred day simple moving average is $259.69. The company has a debt-to-equity ratio of 15.27, a current ratio of 2.78 and a quick ratio of 2.71.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). On average, analysts forecast that Alnylam Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

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.