Alnylam Pharmaceuticals (NASDAQ:ALNY) PT Raised to $282.00 at TD Cowen

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target upped by equities research analysts at TD Cowen from $260.00 to $282.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s target price suggests a potential upside of 15.02% from the company’s current price.

Several other analysts have also recently weighed in on ALNY. Barclays lifted their price target on shares of Alnylam Pharmaceuticals from $236.00 to $291.00 and gave the company an “overweight” rating in a report on Tuesday. Wells Fargo & Company lifted their price target on shares of Alnylam Pharmaceuticals from $161.00 to $207.00 and gave the company an “equal weight” rating in a report on Tuesday. BMO Capital Markets reiterated an “outperform” rating and issued a $234.00 price target on shares of Alnylam Pharmaceuticals in a report on Monday. Canaccord Genuity Group reiterated a “buy” rating and issued a $283.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, June 21st. Finally, Chardan Capital reiterated a “buy” rating and issued a $225.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, May 3rd. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $242.52.

Alnylam Pharmaceuticals Stock Performance

Shares of Alnylam Pharmaceuticals stock opened at $245.17 on Tuesday. Alnylam Pharmaceuticals has a 52-week low of $141.98 and a 52-week high of $249.33. The stock has a market capitalization of $31.01 billion, a price-to-earnings ratio of -91.48 and a beta of 0.30. The company’s 50 day moving average price is $155.86 and its 200-day moving average price is $163.65.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.23. The firm had revenue of $494.33 million during the quarter, compared to the consensus estimate of $428.01 million. During the same quarter in the prior year, the business posted ($1.40) EPS. The firm’s revenue for the quarter was up 54.8% on a year-over-year basis. As a group, equities research analysts forecast that Alnylam Pharmaceuticals will post -3.75 earnings per share for the current fiscal year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, CMO Pushkal Garg sold 2,103 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 value of $485,771.97. Following the completion of the transaction, the chief marketing officer now owns 15,609 shares of the company’s stock, valued at approximately $3,605,522.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Alnylam Pharmaceuticals news, CMO Pushkal Garg sold 2,103 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total value of $485,771.97. Following the completion of the transaction, the chief marketing officer now owns 15,609 shares of the company’s stock, valued at approximately $3,605,522.91. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Amy W. Schulman sold 21,700 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $148.60, for a total value of $3,224,620.00. Following the completion of the transaction, the director now directly owns 8,436 shares of the company’s stock, valued at approximately $1,253,589.60. The disclosure for this sale can be found here. Insiders sold a total of 67,357 shares of company stock valued at $13,436,711 in the last quarter. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky raised its position 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 buying an additional 2,500 shares during the last quarter. Cetera Advisors LLC bought a new stake in shares of Alnylam Pharmaceuticals during the 1st quarter valued at about $238,000. Burney Co. grew its stake in shares of Alnylam Pharmaceuticals by 371.9% during the 1st 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 bought a new stake in shares of Alnylam Pharmaceuticals during the 1st quarter valued at about $3,084,000. Finally, Plato Investment Management Ltd grew its stake in shares of Alnylam Pharmaceuticals by 2,666.3% during the 1st quarter. Plato Investment Management Ltd now owns 4,509 shares of the biopharmaceutical company’s stock valued at $674,000 after purchasing an additional 4,346 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.