Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $295.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target increased by Stifel Nicolaus from $215.00 to $295.00 in a report released on Thursday, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other research analysts have also recently commented on the company. Chardan Capital reiterated a buy rating and issued a $225.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, May 3rd. 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. StockNews.com upgraded Alnylam Pharmaceuticals from a hold rating to a buy rating in a research note on Monday, April 29th. Royal Bank of Canada boosted their price target on Alnylam Pharmaceuticals from $235.00 to $250.00 and gave the stock an outperform rating in a research note on Tuesday, June 25th. Finally, Wells Fargo & Company boosted their price objective on Alnylam Pharmaceuticals from $161.00 to $207.00 and gave the company an equal weight rating in a report on Tuesday, June 25th. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $247.09.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY opened at $243.00 on Thursday. The stock’s 50-day moving average is $159.86 and its two-hundred day moving average is $164.67. The stock has a market cap of $30.74 billion, a PE ratio of -90.67 and a beta of 0.30. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $252.87.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.23. The company had revenue of $494.33 million for the quarter, compared to analyst estimates of $428.01 million. During the same quarter in the prior year, the firm earned ($1.40) EPS. The company’s revenue for the quarter was up 54.8% compared to the same quarter last year. On average, research analysts anticipate that Alnylam Pharmaceuticals will post -3.9 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Yvonne Greenstreet sold 8,301 shares of the 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 $1,917,447.99. Following the completion of the transaction, the chief executive officer now directly owns 80,534 shares of the company’s stock, valued at approximately $18,602,548.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Yvonne Greenstreet sold 8,301 shares of the 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 $1,917,447.99. Following the completion of the transaction, the chief executive officer now directly owns 80,534 shares of the company’s stock, valued at approximately $18,602,548.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Pushkal Garg sold 2,103 shares of the 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 $485,771.97. Following the completion of the transaction, the chief marketing officer now directly owns 15,609 shares of the company’s stock, valued at $3,605,522.91. The disclosure for this sale can be found here. Insiders sold 67,357 shares of company stock valued at $13,436,711 in the last three months. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky lifted its position in Alnylam Pharmaceuticals by 8.1% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 33,213 shares of the biopharmaceutical company’s stock worth $4,964,000 after purchasing an additional 2,500 shares during the period. Cetera Advisors LLC acquired a new stake in Alnylam Pharmaceuticals in the first quarter worth approximately $238,000. Burney Co. lifted its position in Alnylam Pharmaceuticals by 371.9% in the first quarter. Burney Co. now owns 27,059 shares of the biopharmaceutical company’s stock worth $4,044,000 after purchasing an additional 21,325 shares during the period. Swedbank AB acquired a new stake in Alnylam Pharmaceuticals in the first quarter worth approximately $3,084,000. Finally, Plato Investment Management Ltd lifted its position in Alnylam Pharmaceuticals by 2,666.3% in the first quarter. Plato Investment Management Ltd now owns 4,509 shares of the biopharmaceutical company’s stock worth $674,000 after purchasing an additional 4,346 shares during the period. 92.97% of the stock is currently 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.