Canaccord Genuity Group Issues Positive Forecast for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target increased by Canaccord Genuity Group from $366.00 to $384.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently commented on ALNY. Bank of America raised their target price on Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Citigroup raised their target price on Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 target price on shares of Alnylam Pharmaceuticals in a research note on Thursday, October 10th. Scotiabank started coverage on Alnylam Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $305.00 price target on the stock. Finally, Barclays increased their price target on Alnylam Pharmaceuticals from $291.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $294.50.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY stock traded up $7.32 on Friday, hitting $273.91. The company had a trading volume of 866,294 shares, compared to its average volume of 871,240. The firm has a market cap of $35.16 billion, a P/E ratio of -104.55 and a beta of 0.39. The stock’s 50-day moving average is $274.61 and its two-hundred day moving average is $225.87. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.74) by $0.61. The business had revenue of $659.83 million for the quarter, compared to analyst estimates of $447.22 million. During the same period in the prior year, the business earned ($2.21) EPS. The company’s revenue for the quarter was up 107.0% on a year-over-year basis. Equities research analysts predict that Alnylam Pharmaceuticals will post -2.59 EPS for the current year.

Insider Activity

In other news, CEO Yvonne Greenstreet sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total value of $4,200,000.00. Following the completion of the sale, the chief executive officer now owns 73,441 shares of the company’s stock, valued at approximately $20,563,480. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Dennis A. Ausiello sold 20,250 shares of the business’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 transaction, the director now owns 136 shares in the company, valued at $35,632. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Yvonne Greenstreet sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total value of $4,200,000.00. Following the transaction, the chief executive officer now owns 73,441 shares in the company, valued at approximately $20,563,480. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ALNY. Allspring Global Investments Holdings LLC increased its holdings in Alnylam Pharmaceuticals by 572.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 143 shares during the period. Maryland State Retirement & Pension System grew its holdings in shares of Alnylam Pharmaceuticals by 4.1% during the 1st quarter. Maryland State Retirement & Pension System now owns 9,836 shares of the biopharmaceutical company’s stock worth $1,441,000 after acquiring an additional 385 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of Alnylam Pharmaceuticals by 32.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 5,594 shares of the biopharmaceutical company’s stock worth $836,000 after acquiring an additional 1,365 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Alnylam Pharmaceuticals by 63.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 62,415 shares of the biopharmaceutical company’s stock worth $9,328,000 after acquiring an additional 24,228 shares during the period. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Alnylam Pharmaceuticals by 47.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 2,775 shares of the biopharmaceutical company’s stock worth $415,000 after acquiring an additional 892 shares during the period. Hedge funds and other 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.