Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $250.00 at Morgan Stanley

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective raised by Morgan Stanley from $164.00 to $250.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has an equal weight rating on the biopharmaceutical company’s stock.

A number of other brokerages also recently commented on ALNY. Chardan Capital restated a buy rating and set a $225.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday, May 3rd. BMO Capital Markets reissued an outperform rating and set a $234.00 price target on shares of Alnylam Pharmaceuticals in a report on Monday. StockNews.com raised Alnylam Pharmaceuticals from a hold rating to a buy rating in a report on Monday, April 29th. William Blair reissued an outperform rating on shares of Alnylam Pharmaceuticals in a research note on Monday, April 8th. Finally, Needham & Company LLC raised their price target on Alnylam Pharmaceuticals from $200.00 to $275.00 and gave the company a buy rating in a report on Monday. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $242.52.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ:ALNY opened at $240.15 on Tuesday. The company’s fifty day moving average price is $153.86 and its 200 day moving average price is $163.08. The firm has a market capitalization of $30.38 billion, a P/E ratio of -89.61 and a beta of 0.30. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $242.00.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.23. The company had revenue of $494.33 million during the quarter, compared to analyst estimates of $428.01 million. During the same period in the previous year, the firm posted ($1.40) EPS. The company’s revenue for the quarter was up 54.8% on a year-over-year basis. On average, sell-side analysts anticipate that Alnylam Pharmaceuticals will post -3.74 EPS for the current year.

Insider Activity at Alnylam Pharmaceuticals

In related news, Director Amy W. Schulman sold 21,700 shares of the 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 SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky grew its stake in Alnylam Pharmaceuticals by 8.1% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 33,213 shares of the biopharmaceutical company’s stock worth $4,964,000 after acquiring an additional 2,500 shares during the period. Cetera Advisors LLC purchased a new position in shares of Alnylam Pharmaceuticals during the 1st quarter worth $238,000. Burney Co. grew its position in shares of Alnylam Pharmaceuticals by 371.9% in the first quarter. Burney Co. now owns 27,059 shares of the biopharmaceutical company’s stock valued at $4,044,000 after purchasing an additional 21,325 shares during the period. Swedbank AB acquired a new position in Alnylam Pharmaceuticals in the first quarter valued at $3,084,000. Finally, Plato Investment Management Ltd lifted its position in Alnylam Pharmaceuticals by 2,666.3% during the first quarter. Plato Investment Management Ltd now owns 4,509 shares of the biopharmaceutical company’s stock worth $674,000 after buying an additional 4,346 shares during the period. Hedge funds and other institutional investors own 92.97% of the company’s stock.

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.