Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $390.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective increased by Canaccord Genuity Group from $385.00 to $390.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

ALNY has been the subject of several other research reports. HC Wainwright boosted their price target on Alnylam Pharmaceuticals from $400.00 to $500.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Chardan Capital restated a “buy” rating and issued a $300.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday. StockNews.com cut Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday. Scotiabank boosted their price target on Alnylam Pharmaceuticals from $300.00 to $338.00 and gave the stock a “sector outperform” rating in a research note on Friday. Finally, Needham & Company LLC restated a “buy” rating and issued a $320.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday. One research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $310.22.

Alnylam Pharmaceuticals Stock Up 11.8 %

Shares of NASDAQ:ALNY opened at $283.34 on Friday. The stock has a fifty day simple moving average of $257.16 and a two-hundred day simple moving average of $259.74. The stock has a market capitalization of $36.68 billion, a price-to-earnings ratio of -130.57 and a beta of 0.39. Alnylam Pharmaceuticals has a 12-month low of $141.98 and a 12-month high of $304.39. 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 (NASDAQ:ALNY) last announced its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). On average, research analysts anticipate that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, CEO Yvonne Greenstreet sold 1,213 shares of the stock in a transaction dated 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 in the company, valued at approximately $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 can be accessed through this hyperlink. Also, Director Phillip A. Sharp sold 11,250 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $275.00, for a total value of $3,093,750.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,234 shares of company stock valued at $19,958,097. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Several institutional investors have recently made changes to their positions in the business. Capital World Investors grew its position in shares of Alnylam Pharmaceuticals by 0.6% during the fourth quarter. Capital World Investors now owns 16,600,525 shares of the biopharmaceutical company’s stock worth $3,906,284,000 after purchasing an additional 92,101 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Alnylam Pharmaceuticals by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 12,733,399 shares of the biopharmaceutical company’s stock worth $2,996,296,000 after purchasing an additional 98,303 shares in the last quarter. Capital Research Global Investors grew its position in shares of Alnylam Pharmaceuticals by 32.9% during the fourth quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company’s stock worth $1,639,767,000 after purchasing an additional 1,724,610 shares in the last quarter. Regeneron Pharmaceuticals Inc. bought a new position in Alnylam Pharmaceuticals during the fourth quarter valued at approximately $1,045,822,000. Finally, T. Rowe Price Investment Management Inc. boosted its stake in Alnylam Pharmaceuticals by 39.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company’s stock valued at $1,031,705,000 after buying an additional 1,245,195 shares during the last quarter. Hedge funds and other institutional investors own 92.97% of the company’s stock.

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.