Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $275.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target boosted by Needham & Company LLC from $200.00 to $275.00 in a research note released on Monday, Benzinga reports. Needham & Company LLC currently has a buy rating on the biopharmaceutical company’s stock.

Several other analysts have also issued reports on the stock. StockNews.com upgraded shares of Alnylam Pharmaceuticals from a hold rating to a buy rating in a research report on Monday, April 29th. BMO Capital Markets reiterated an outperform rating and issued a $234.00 target price on shares of Alnylam Pharmaceuticals in a research report on Monday. Canaccord Genuity Group reiterated a buy rating and issued a $283.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday, June 21st. HC Wainwright reiterated a buy rating and issued a $400.00 target price on shares of Alnylam Pharmaceuticals in a research report on Monday. Finally, William Blair reiterated an outperform rating on shares of Alnylam Pharmaceuticals in a research report on Monday, April 8th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $242.52.

Alnylam Pharmaceuticals Stock Performance

ALNY stock opened at $245.17 on Monday. The firm has a market cap of $31.01 billion, a PE ratio of -91.48 and a beta of 0.30. The firm’s fifty day moving average is $155.86 and its 200 day moving average is $163.65. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $249.33.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results 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 firm had revenue of $494.33 million for the quarter, compared to analyst estimates of $428.01 million. The firm’s quarterly revenue was up 54.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.40) EPS. Research analysts predict that Alnylam Pharmaceuticals will post -3.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, Director Amy W. Schulman sold 21,700 shares of Alnylam Pharmaceuticals stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $148.60, for a total transaction of $3,224,620.00. Following the transaction, the director now directly owns 8,436 shares of the company’s stock, valued at $1,253,589.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Amy W. Schulman sold 21,700 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $148.60, for a total value of $3,224,620.00. Following the sale, the director now directly owns 8,436 shares of the company’s stock, valued at approximately $1,253,589.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeffrey V. Poulton sold 1,605 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $231.00, for a total transaction of $370,755.00. Following the completion of the sale, the chief financial officer now directly owns 28,892 shares in the company, valued at $6,674,052. The disclosure for this sale can be found here. Insiders have sold 67,357 shares of company stock valued at $13,436,711 over the last ninety days. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew 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 worth $25,000 after acquiring an additional 143 shares in the last quarter. Quent Capital LLC grew its holdings in Alnylam Pharmaceuticals by 246.0% during the 4th quarter. Quent Capital LLC now owns 173 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 123 shares in the last quarter. Anchor Investment Management LLC acquired a new position in Alnylam Pharmaceuticals during the 4th quarter worth approximately $38,000. Altitude Crest Partners Inc. acquired a new position in Alnylam Pharmaceuticals during the 1st quarter worth approximately $30,000. Finally, GAMMA Investing LLC acquired a new position in Alnylam Pharmaceuticals during the 4th quarter worth approximately $52,000. Institutional investors and hedge funds 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.