Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $298.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective lifted by Raymond James from $275.00 to $298.00 in a research report report published on Friday morning, Benzinga reports. Raymond James currently has an outperform rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also weighed in on the stock. Canaccord Genuity Group lifted their price objective on shares of Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the company a “buy” rating in a research report on Friday. Needham & Company LLC restated a “buy” rating and set a $320.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday. HC Wainwright restated a “buy” rating and set a $400.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday, October 18th. The Goldman Sachs Group upgraded shares of Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $198.00 to $370.00 in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Six equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $294.50.

Alnylam Pharmaceuticals Stock Up 2.7 %

NASDAQ:ALNY traded up $7.32 during midday trading on Friday, reaching $273.91. The stock had a trading volume of 866,294 shares, compared to its average volume of 871,240. The firm has a fifty day simple moving average of $274.61 and a two-hundred day simple moving average of $225.87. Alnylam Pharmaceuticals has a 12-month low of $141.98 and a 12-month high of $304.39. The stock has a market cap of $35.16 billion, a P/E ratio of -104.55 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.61. The firm had revenue of $659.83 million during the quarter, compared to analysts’ expectations of $447.22 million. During the same quarter last year, the business earned ($2.21) earnings per share. The business’s quarterly revenue was up 107.0% on a year-over-year basis. On average, sell-side analysts anticipate that Alnylam Pharmaceuticals will post -2.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, Director Dennis A. Ausiello sold 20,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total transaction of $5,305,500.00. Following the sale, the director now directly owns 136 shares of the company’s stock, valued at approximately $35,632. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alnylam Pharmaceuticals news, Director Dennis A. Ausiello sold 20,250 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total value of $5,305,500.00. Following the sale, the director now directly owns 136 shares of the company’s stock, valued at $35,632. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Yvonne Greenstreet sold 15,000 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total value of $4,200,000.00. Following the completion of the transaction, the chief executive officer now directly owns 73,441 shares of the company’s stock, valued at approximately $20,563,480. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Alnylam Pharmaceuticals by 0.4% during the first quarter. Vanguard Group Inc. now owns 11,994,261 shares of the biopharmaceutical company’s stock valued at $1,792,542,000 after purchasing an additional 50,366 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Alnylam Pharmaceuticals by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock valued at $550,837,000 after purchasing an additional 201,784 shares during the last quarter. Capital International Investors lifted its holdings in shares of Alnylam Pharmaceuticals by 1.8% during the first quarter. Capital International Investors now owns 3,651,217 shares of the biopharmaceutical company’s stock valued at $545,674,000 after purchasing an additional 64,560 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Alnylam Pharmaceuticals by 7.3% during the first 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. Finally, Bellevue Group AG lifted its holdings in shares of Alnylam Pharmaceuticals by 3.7% during the first quarter. Bellevue Group AG now owns 918,284 shares of the biopharmaceutical company’s stock valued at $137,238,000 after purchasing an additional 32,966 shares during the last quarter. 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.