Alnylam Pharmaceuticals (NASDAQ:ALNY) PT Raised to $307.00 at Bank of America

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price raised by Bank of America from $295.00 to $307.00 in a research report sent to investors on Wednesday, Benzinga reports. Bank of America currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research firms have also recently weighed in on ALNY. Needham & Company LLC lifted their price objective on shares of Alnylam Pharmaceuticals from $275.00 to $320.00 and gave the company a buy rating in a report on Friday, August 2nd. BMO Capital Markets reaffirmed an outperform rating and issued a $234.00 price objective on shares of Alnylam Pharmaceuticals in a report on Monday, June 24th. Morgan Stanley lifted their price objective on shares of Alnylam Pharmaceuticals from $250.00 to $255.00 and gave the company an equal weight rating in a report on Friday, July 12th. UBS Group lifted their price objective on shares of Alnylam Pharmaceuticals from $253.00 to $288.00 and gave the company a buy rating in a report on Friday, June 28th. Finally, Cantor Fitzgerald lifted their price objective on shares of Alnylam Pharmaceuticals from $150.00 to $220.00 and gave the company a neutral rating in a report on Monday, July 22nd. Seven research analysts have rated the stock with a hold rating and eighteen 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 $279.14.

Alnylam Pharmaceuticals Price Performance

Shares of Alnylam Pharmaceuticals stock opened at $246.78 on Wednesday. The firm has a fifty day moving average price of $257.35 and a 200 day moving average price of $191.27. Alnylam Pharmaceuticals has a 1 year low of $141.98 and a 1 year high of $287.55. The stock has a market cap of $31.22 billion, a PE ratio of -92.08 and a beta of 0.37.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share (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 analysts’ expectations of $447.22 million. During the same period last year, the business earned ($2.21) EPS. The company’s revenue for the quarter was up 107.0% on a year-over-year basis. As a group, equities analysts expect that Alnylam Pharmaceuticals will post -2.82 EPS for the current year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,000 shares of Alnylam Pharmaceuticals stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total transaction of $4,200,000.00. Following the transaction, the chief executive officer now directly owns 73,441 shares of the company’s stock, valued at $20,563,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,000 shares of Alnylam Pharmaceuticals stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total transaction of $4,200,000.00. Following the transaction, the chief executive officer now directly owns 73,441 shares of the company’s stock, valued at $20,563,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 1,198 shares of Alnylam Pharmaceuticals 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 directly owns 14,181 shares in the company, valued at $3,275,669.19. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,148 shares of company stock worth $25,658,824. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Souders Financial Advisors raised its stake in shares of Alnylam Pharmaceuticals by 1.0% in the 2nd quarter. Souders Financial Advisors now owns 3,512 shares of the biopharmaceutical company’s stock valued at $853,000 after acquiring an additional 36 shares during the period. V Square Quantitative Management LLC raised its stake in shares of Alnylam Pharmaceuticals by 21.9% in the 2nd quarter. V Square Quantitative Management LLC now owns 334 shares of the biopharmaceutical company’s stock valued at $81,000 after acquiring an additional 60 shares during the period. Commerce Bank raised its stake in shares of Alnylam Pharmaceuticals by 1.7% in the 4th quarter. Commerce Bank now owns 4,683 shares of the biopharmaceutical company’s stock valued at $896,000 after acquiring an additional 77 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of Alnylam Pharmaceuticals by 7.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,368 shares of the biopharmaceutical company’s stock valued at $262,000 after acquiring an additional 89 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Alnylam Pharmaceuticals by 54.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 259 shares of the biopharmaceutical company’s stock valued at $63,000 after acquiring an additional 91 shares during the period. 92.97% of the stock is owned by hedge funds and other institutional investors.

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.