Alnylam Pharmaceuticals (NASDAQ:ALNY) Upgraded by The Goldman Sachs Group to “Buy”

The Goldman Sachs Group upgraded shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) from a neutral rating to a buy rating in a research note published on Friday morning, Marketbeat.com reports. They currently have $370.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $198.00.

A number of other brokerages also recently issued reports on ALNY. Cantor Fitzgerald increased their price objective on shares of Alnylam Pharmaceuticals from $150.00 to $220.00 and gave the stock a neutral rating in a research note on Monday, July 22nd. Needham & Company LLC lifted their price objective on shares of Alnylam Pharmaceuticals from $275.00 to $320.00 and gave the company a buy rating in a research note on Friday, August 2nd. SVB Leerink boosted their price objective on shares of Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the company a market perform rating in a research report on Tuesday, June 25th. Wells Fargo & Company raised their target price on Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the company an equal weight rating in a report on Friday, August 2nd. Finally, BMO Capital Markets reissued an outperform rating and set a $234.00 price target on shares of Alnylam Pharmaceuticals in a report on Monday, June 24th. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $277.14.

Alnylam Pharmaceuticals Trading Up 2.1 %

NASDAQ ALNY opened at $268.24 on Friday. The company has a market cap of $33.93 billion, a price-to-earnings ratio of -100.09 and a beta of 0.37. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $274.93. The company has a 50 day moving average of $232.23 and a 200-day moving average of $180.32.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $447.22 million. Alnylam Pharmaceuticals’s revenue was up 107.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.21) earnings per share. On average, equities research analysts forecast that Alnylam Pharmaceuticals will post -3.99 earnings per share for the current year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $230.99, for a total transaction of $276,726.02. Following the completion of the transaction, the executive vice president now owns 14,181 shares in the company, valued at approximately $3,275,669.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Dennis A. Ausiello sold 20,250 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total transaction of $5,305,500.00. Following the sale, the director now owns 136 shares in the company, valued at approximately $35,632. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total value of $276,726.02. Following the sale, the executive vice president now directly owns 14,181 shares of the company’s stock, valued at approximately $3,275,669.19. The disclosure for this sale can be found here. Insiders have sold a total of 109,848 shares of company stock valued at $24,683,444 over the last ninety days. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC increased its stake in shares of Alnylam Pharmaceuticals by 21.9% in the 2nd quarter. V Square Quantitative Management LLC now owns 334 shares of the biopharmaceutical company’s stock valued at $81,000 after acquiring an additional 60 shares in the last quarter. Commerce Bank increased its stake in Alnylam Pharmaceuticals by 1.7% in the fourth quarter. Commerce Bank now owns 4,683 shares of the biopharmaceutical company’s stock valued at $896,000 after purchasing an additional 77 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Alnylam Pharmaceuticals by 7.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,368 shares of the biopharmaceutical company’s stock valued at $262,000 after purchasing an additional 89 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Alnylam Pharmaceuticals by 54.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 259 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 91 shares during the period. Finally, Metis Global Partners LLC boosted its position in shares of Alnylam Pharmaceuticals by 2.2% during the 4th quarter. Metis Global Partners LLC now owns 4,382 shares of the biopharmaceutical company’s stock worth $839,000 after purchasing an additional 94 shares in the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

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.