Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Rating Reaffirmed by Canaccord Genuity Group

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reiterated by research analysts at Canaccord Genuity Group in a research note issued on Friday, Benzinga reports. They currently have a $283.00 price objective on the biopharmaceutical company’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 70.79% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. William Blair restated an “outperform” rating on shares of Alnylam Pharmaceuticals in a report on Monday, April 8th. Chardan Capital restated a “buy” rating and set a $225.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, May 3rd. HC Wainwright boosted their target price on Alnylam Pharmaceuticals from $395.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. StockNews.com upgraded Alnylam Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, April 29th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $234.00 price objective on shares of Alnylam Pharmaceuticals in a report on Wednesday, March 27th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $220.12.

Alnylam Pharmaceuticals Trading Up 5.3 %

NASDAQ:ALNY opened at $165.70 on Friday. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $218.88. The stock has a 50 day moving average of $150.49 and a two-hundred day moving average of $162.35. The firm has a market cap of $20.96 billion, a P/E ratio of -61.83 and a beta of 0.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) earnings per share for the quarter, topping the consensus estimate 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. The company’s revenue for the quarter was up 54.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.40) earnings per share. On average, research analysts forecast that Alnylam Pharmaceuticals will post -3.74 earnings per share for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, Director Amy W. Schulman sold 21,700 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $148.60, for a total transaction of $3,224,620.00. Following the sale, the director now owns 8,436 shares of the company’s stock, valued at $1,253,589.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several large investors have recently bought and sold shares of the business. ANTIPODES PARTNERS Ltd boosted its stake in shares of Alnylam Pharmaceuticals by 69.1% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 189,141 shares of the biopharmaceutical company’s stock worth $36,203,000 after buying an additional 77,307 shares during the period. Vanguard Group Inc. boosted its stake in shares of Alnylam Pharmaceuticals by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock worth $2,286,181,000 after buying an additional 287,064 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Alnylam Pharmaceuticals by 155.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 20,549 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 12,513 shares during the period. Westpac Banking Corp lifted its position in Alnylam Pharmaceuticals by 59.8% in the fourth quarter. Westpac Banking Corp now owns 1,512 shares of the biopharmaceutical company’s stock valued at $289,000 after purchasing an additional 566 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in Alnylam Pharmaceuticals by 630.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 26,160 shares of the biopharmaceutical company’s stock valued at $5,007,000 after purchasing an additional 22,580 shares during the period. 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.