Alnylam Pharmaceuticals (NASDAQ:ALNY) Sees Strong Trading Volume on Analyst Upgrade

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) shares saw unusually-high trading volume on Tuesday after Wells Fargo & Company raised their price target on the stock from $161.00 to $207.00. Wells Fargo & Company currently has an equal weight rating on the stock. Approximately 515,214 shares traded hands during trading, a decline of 35% from the previous session’s volume of 791,441 shares.The stock last traded at $229.61 and had previously closed at $222.90.

A number of other research analysts have also commented on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $234.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Monday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $283.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday. HC Wainwright reissued a “buy” rating and issued a $400.00 price target on shares of Alnylam Pharmaceuticals in a report on Monday. Needham & Company LLC raised their price objective on shares of Alnylam Pharmaceuticals from $200.00 to $275.00 and gave the company a “buy” rating in a research report on Monday. Finally, Chardan Capital reiterated a “buy” rating and issued a $225.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, May 3rd. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $231.59.

Insider Transactions at Alnylam Pharmaceuticals

In related 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 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 accessible through the SEC website. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its holdings in Alnylam Pharmaceuticals by 572.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 143 shares during the last quarter. Quent Capital LLC raised its position in shares of Alnylam Pharmaceuticals by 246.0% in the fourth quarter. Quent Capital LLC now owns 173 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 123 shares during the period. Anchor Investment Management LLC acquired a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter worth $38,000. Altitude Crest Partners Inc. bought a new stake in shares of Alnylam Pharmaceuticals during the 1st quarter worth $30,000. Finally, GAMMA Investing LLC acquired a new position in Alnylam Pharmaceuticals in the 4th quarter valued at $52,000. Institutional investors and hedge funds own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Trading Up 3.0 %

The stock has a market cap of $29.04 billion, a P/E ratio of -85.68 and a beta of 0.30. The firm’s fifty day moving average is $151.99 and its 200 day moving average is $162.59.

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 analysts’ consensus estimates of ($0.75) by $0.23. The business had revenue of $494.33 million during the quarter, compared to the consensus estimate of $428.01 million. During the same quarter in the previous year, the firm posted ($1.40) earnings per share. The company’s revenue for the quarter was up 54.8% on a year-over-year basis. Research analysts forecast that Alnylam Pharmaceuticals, Inc. will post -3.74 earnings per share for the current fiscal year.

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.