Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $250.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target increased by Royal Bank of Canada from $235.00 to $250.00 in a research report report published on Tuesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the biopharmaceutical company’s stock.

ALNY has been the subject of a number of other research reports. Canaccord Genuity Group reiterated a buy rating and issued a $283.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, June 21st. BMO Capital Markets reiterated an outperform rating and issued a $234.00 price target on shares of Alnylam Pharmaceuticals in a research note on Monday. William Blair reiterated an outperform rating on shares of Alnylam Pharmaceuticals in a research note on Monday, April 8th. Evercore ISI lifted their price target on shares of Alnylam Pharmaceuticals from $210.00 to $260.00 and gave the stock an outperform rating in a research note on Tuesday. Finally, HC Wainwright reiterated a buy rating and issued a $400.00 price target on shares of Alnylam Pharmaceuticals in a research note on Monday. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $245.14.

Alnylam Pharmaceuticals Stock Performance

NASDAQ ALNY opened at $247.00 on Tuesday. The firm has a 50 day simple moving average of $157.89 and a 200-day simple moving average of $164.23. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $252.87. The firm has a market cap of $31.24 billion, a price-to-earnings ratio of -92.16 and a beta of 0.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.23. The business had revenue of $494.33 million during the quarter, compared to analysts’ expectations of $428.01 million. During the same period in the previous year, the business posted ($1.40) EPS. The company’s revenue for the quarter was up 54.8% compared to the same quarter last year. Equities analysts predict that Alnylam Pharmaceuticals will post -3.75 EPS for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In related news, EVP Kevin Joseph Fitzgerald sold 1,198 shares of Alnylam Pharmaceuticals stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $230.99, for a total value of $276,726.02. Following the transaction, the executive vice president now directly owns 14,181 shares in the company, valued at approximately $3,275,669.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were 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 in the company, valued at approximately $3,275,669.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David E. I. Pyott sold 32,450 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $220.69, for a total transaction of $7,161,390.50. Following the completion of the sale, the director now owns 136 shares in the company, valued at $30,013.84. The disclosure for this sale can be found here. Insiders have sold a total of 67,357 shares of company stock worth $13,436,711 in the last three months. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALNY. Norges Bank acquired a new position in Alnylam Pharmaceuticals in the 4th quarter valued at about $390,438,000. Capital International Investors raised its stake in Alnylam Pharmaceuticals by 15.8% in the 4th quarter. Capital International Investors now owns 3,586,657 shares of the biopharmaceutical company’s stock valued at $686,641,000 after purchasing an additional 488,814 shares during the last quarter. Wellington Management Group LLP raised its stake in Alnylam Pharmaceuticals by 6.0% in the 3rd quarter. Wellington Management Group LLP now owns 6,431,814 shares of the biopharmaceutical company’s stock valued at $1,139,074,000 after purchasing an additional 364,021 shares during the last quarter. Vanguard Group Inc. raised its stake in Alnylam Pharmaceuticals by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock valued at $2,286,181,000 after purchasing an additional 287,064 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in Alnylam Pharmaceuticals by 7.3% in the 1st quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock valued at $470,018,000 after purchasing an additional 214,908 shares during the last quarter. Institutional investors and hedge funds 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.