Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $291.00 Price Target at Barclays

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target raised by Barclays from $236.00 to $291.00 in a research note released on Tuesday, Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

ALNY has been the topic of a number of other research reports. Canaccord Genuity Group restated a buy rating and issued a $283.00 price objective on shares of Alnylam Pharmaceuticals in a report on Friday, June 21st. HC Wainwright reissued a buy rating and issued a $400.00 price target on shares of Alnylam Pharmaceuticals in a research note on Monday, June 24th. StockNews.com raised shares of Alnylam Pharmaceuticals from a hold rating to a buy rating in a research note on Monday, April 29th. Evercore ISI raised their target price 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, BMO Capital Markets restated an outperform rating and set a $234.00 target price on shares of Alnylam Pharmaceuticals in a report on Monday, June 24th. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $247.09.

Alnylam Pharmaceuticals Stock Down 1.6 %

Shares of NASDAQ ALNY opened at $243.00 on Tuesday. Alnylam Pharmaceuticals has a 52-week low of $141.98 and a 52-week high of $252.87. The company’s 50-day simple moving average is $159.86 and its 200-day simple moving average is $164.73. The firm has a market cap of $30.74 billion, a price-to-earnings ratio of -90.67 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, topping the consensus estimate of ($0.75) by $0.23. The firm had revenue of $494.33 million for the quarter, compared to analysts’ expectations of $428.01 million. Alnylam Pharmaceuticals’s quarterly revenue was up 54.8% on a year-over-year basis. During the same quarter last year, the firm posted ($1.40) earnings per share. Equities research analysts anticipate that Alnylam Pharmaceuticals will post -3.75 EPS for the current fiscal year.

Insider Activity

In related news, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total transaction of $276,726.02. Following the transaction, the executive vice president now owns 14,181 shares of the company’s stock, valued at approximately $3,275,669.19. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the company’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 sale, the executive vice president now directly owns 14,181 shares of the company’s stock, valued at approximately $3,275,669.19. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David E. I. Pyott sold 32,450 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $220.69, for a total transaction of $7,161,390.50. Following the completion of the transaction, the director now directly owns 136 shares of the company’s stock, valued at approximately $30,013.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,357 shares of company stock valued at $13,436,711. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its holdings in Alnylam Pharmaceuticals by 572.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 143 shares in the last quarter. Altitude Crest Partners Inc. purchased a new stake in shares of Alnylam Pharmaceuticals during the 1st quarter worth $30,000. Quent Capital LLC lifted its position in shares of 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 purchasing an additional 123 shares during the last quarter. Anchor Investment Management LLC purchased a new position in Alnylam Pharmaceuticals in the fourth quarter valued at $38,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Alnylam Pharmaceuticals by 155.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 20,549 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 12,513 shares during the last quarter. Hedge funds and other institutional investors 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.