Citigroup Raises Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $291.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target boosted by research analysts at Citigroup from $227.00 to $291.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Citigroup’s price objective would indicate a potential upside of 18.69% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $283.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday, June 21st. Needham & Company LLC lifted their price target on Alnylam Pharmaceuticals from $200.00 to $275.00 and gave the company a “buy” rating in a research report on Monday. TD Cowen lifted their price target on Alnylam Pharmaceuticals from $260.00 to $282.00 and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company lifted their price target on Alnylam Pharmaceuticals from $161.00 to $207.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $400.00 price target on shares of Alnylam Pharmaceuticals in a research report on Monday. Eight equities research 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, Alnylam Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $242.52.

Alnylam Pharmaceuticals Trading Up 2.1 %

Shares of ALNY opened at $245.17 on Tuesday. The stock has a 50 day moving average of $155.86 and a 200 day moving average of $163.65. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $249.33. The company has a market capitalization of $31.01 billion, a price-to-earnings ratio of -91.48 and a beta of 0.30.

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, topping analysts’ consensus estimates of ($0.75) by $0.23. The firm had revenue of $494.33 million during the quarter, compared to analysts’ expectations of $428.01 million. During the same period in the prior year, the business earned ($1.40) earnings per share. The business’s quarterly revenue was up 54.8% compared to the same quarter last year. As a group, equities research analysts predict that Alnylam Pharmaceuticals will post -3.75 earnings per share for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the company’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 $276,726.02. Following the completion of the transaction, the executive vice president now directly owns 14,181 shares in the company, valued at approximately $3,275,669.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Yvonne Greenstreet sold 8,301 shares of the company’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 $1,917,447.99. Following the completion of the transaction, the chief executive officer now directly owns 80,534 shares in the company, valued at approximately $18,602,548.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the company’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 $276,726.02. Following the completion of the transaction, the executive vice president now owns 14,181 shares of the company’s stock, valued at $3,275,669.19. The disclosure for this sale can be found here. In the last three months, insiders sold 67,357 shares of company stock worth $13,436,711. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of ALNY. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 in the last quarter. Altitude Crest Partners Inc. purchased a new stake in Alnylam Pharmaceuticals during the 1st quarter valued at about $30,000. Quent Capital LLC boosted its holdings in Alnylam Pharmaceuticals by 246.0% during the 4th quarter. Quent Capital LLC now owns 173 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 123 shares during the period. Anchor Investment Management LLC purchased a new stake in Alnylam Pharmaceuticals during the 4th quarter valued at about $38,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Alnylam Pharmaceuticals by 155.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 20,549 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 12,513 shares during the period. 92.97% of the stock is currently 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.