Alnylam Pharmaceuticals (NASDAQ:ALNY) Sets New 12-Month High After Analyst Upgrade

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)’s stock price reached a new 52-week high on Tuesday after Bank of America raised their price target on the stock from $307.00 to $314.00. Bank of America currently has a buy rating on the stock. Alnylam Pharmaceuticals traded as high as $289.67 and last traded at $287.99, with a volume of 518055 shares traded. The stock had previously closed at $283.32.

A number of other research firms also recently commented on ALNY. Stifel Nicolaus boosted their target price on Alnylam Pharmaceuticals from $215.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Chardan Capital reissued a “buy” rating and issued a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday, October 11th. Leerink Partners lifted their target price on shares of Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the stock a “market perform” rating in a research report on Tuesday, June 25th. Needham & Company LLC reiterated a “buy” rating and issued a $320.00 price target on shares of Alnylam Pharmaceuticals in a research report on Thursday, October 10th. Finally, HC Wainwright restated a “buy” rating and set a $400.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday, August 30th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $285.95.

Insider Transactions at Alnylam Pharmaceuticals

In other news, CEO Yvonne Greenstreet sold 15,000 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total value of $4,200,000.00. Following the completion of the transaction, the chief executive officer now owns 73,441 shares in the company, valued at approximately $20,563,480. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Dennis A. Ausiello sold 20,250 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total transaction of $5,305,500.00. Following the transaction, the director now owns 136 shares of the company’s stock, valued at $35,632. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Yvonne Greenstreet sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total transaction of $4,200,000.00. Following the transaction, the chief executive officer now owns 73,441 shares in the company, valued at approximately $20,563,480. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,398 shares of company stock valued at $13,595,460. 1.50% of the stock is owned by insiders.

Institutional Trading of Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of ALNY. Swedbank AB increased its holdings in shares of Alnylam Pharmaceuticals by 160.3% in the third quarter. Swedbank AB now owns 53,729 shares of the biopharmaceutical company’s stock worth $14,777,000 after acquiring an additional 33,090 shares in the last quarter. Creative Planning grew its position in shares of Alnylam Pharmaceuticals by 24.6% in the 3rd quarter. Creative Planning now owns 10,012 shares of the biopharmaceutical company’s stock valued at $2,754,000 after purchasing an additional 1,978 shares during the period. Exchange Traded Concepts LLC increased its stake in Alnylam Pharmaceuticals by 4.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,568 shares of the biopharmaceutical company’s stock worth $981,000 after purchasing an additional 136 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Alnylam Pharmaceuticals by 400.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,000 shares of the biopharmaceutical company’s stock worth $275,000 after buying an additional 800 shares during the period. Finally, Tobam lifted its stake in Alnylam Pharmaceuticals by 5.8% in the third quarter. Tobam now owns 31,467 shares of the biopharmaceutical company’s stock valued at $8,654,000 after buying an additional 1,736 shares in the last quarter. 92.97% of the stock is owned by institutional investors.

Alnylam Pharmaceuticals Stock Up 1.4 %

The company’s fifty day moving average price is $269.96 and its two-hundred day moving average price is $214.43. The company has a market cap of $36.35 billion, a price-to-earnings ratio of -107.22 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.61. The firm had revenue of $659.83 million during the quarter, compared to the consensus estimate of $447.22 million. During the same quarter in the previous year, the firm posted ($2.21) EPS. The company’s revenue was up 107.0% on a year-over-year basis. On average, equities research analysts predict that Alnylam Pharmaceuticals, Inc. will post -2.73 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.