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

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective upped by Wells Fargo & Company from $275.00 to $287.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the biopharmaceutical company’s stock.

Several other analysts have also issued reports on the stock. Morgan Stanley upped their price target on shares of Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Canaccord Genuity Group increased their target price on Alnylam Pharmaceuticals from $384.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday. StockNews.com lowered Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $300.00 target price on shares of Alnylam Pharmaceuticals in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $310.22.

Alnylam Pharmaceuticals Price Performance

Shares of Alnylam Pharmaceuticals stock opened at $283.34 on Friday. The firm has a market capitalization of $36.68 billion, a PE ratio of -130.57 and a beta of 0.39. The company has a current ratio of 2.78, a quick ratio of 2.71 and a debt-to-equity ratio of 15.27. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $304.39. The business’s 50-day moving average price is $257.16 and its 200-day moving average price is $259.74.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). Sell-side analysts forecast that Alnylam Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insider Transactions at Alnylam Pharmaceuticals

In related news, CMO Pushkal Garg sold 1,548 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $251.67, for a total transaction of $389,585.16. Following the sale, the chief marketing officer now owns 11,989 shares of the company’s stock, valued at $3,017,271.63. The trade was a 11.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Phillip A. Sharp sold 11,250 shares of the firm’s stock in a transaction that occurred 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. Insiders have sold 71,234 shares of company stock valued at $19,958,097 in the last three months. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in ALNY. Jennison Associates LLC purchased a new position in shares of Alnylam Pharmaceuticals in the 4th quarter worth about $61,160,000. Strategic Financial Concepts LLC bought a new stake in Alnylam Pharmaceuticals during the 4th quarter valued at about $41,529,000. Truist Financial Corp raised its holdings in Alnylam Pharmaceuticals by 136.6% in the fourth 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. raised its holdings in Alnylam Pharmaceuticals by 3.0% in the fourth 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. lifted its stake in shares of Alnylam Pharmaceuticals by 13.0% in the fourth 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 in the last quarter. 92.97% of the stock is 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.