TD Cowen Raises Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $371.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective raised by TD Cowen from $282.00 to $371.00 in a report published on Monday morning, Benzinga reports. TD Cowen currently has a buy rating on the biopharmaceutical company’s stock.

A number of other brokerages have also commented on ALNY. HC Wainwright reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Alnylam Pharmaceuticals in a report on Friday, October 18th. Canaccord Genuity Group upped their price target on shares of Alnylam Pharmaceuticals from $357.00 to $366.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on shares of Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Scotiabank assumed coverage on shares of Alnylam Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $305.00 price objective for the company. Finally, Leerink Partners increased 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. Six equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $290.86.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY opened at $294.87 on Monday. The company’s 50-day moving average is $273.47 and its 200-day moving average is $220.04. The firm has a market capitalization of $37.30 billion, a PE ratio of -110.03 and a beta of 0.39. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.61. The company had revenue of $659.83 million during the quarter, compared to the consensus estimate of $447.22 million. During the same period in the prior year, the company earned ($2.21) earnings per share. The firm’s revenue was up 107.0% compared to the same quarter last year. Analysts predict that Alnylam Pharmaceuticals will post -2.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, Director Dennis A. Ausiello sold 20,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $262.00, for a total value of $5,305,500.00. Following the sale, the director now owns 136 shares in the company, valued at $35,632. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Yvonne Greenstreet sold 15,000 shares of the firm’s 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 $20,563,480. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dennis A. Ausiello sold 20,250 shares of Alnylam Pharmaceuticals stock in a transaction that occurred 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 sale, the director now owns 136 shares in the company, valued at approximately $35,632. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,398 shares of company stock worth $13,595,460 in the last three months. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several large investors have recently modified their holdings of the business. Souders Financial Advisors increased its holdings in Alnylam Pharmaceuticals by 1.0% in the second quarter. Souders Financial Advisors now owns 3,512 shares of the biopharmaceutical company’s stock valued at $853,000 after purchasing an additional 36 shares during the period. V Square Quantitative Management LLC increased its stake in shares of Alnylam Pharmaceuticals by 21.9% in the second quarter. V Square Quantitative Management LLC now owns 334 shares of the biopharmaceutical company’s stock valued at $81,000 after buying an additional 60 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Alnylam Pharmaceuticals by 54.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 259 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 91 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Alnylam Pharmaceuticals in the second quarter worth approximately $26,000. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Alnylam Pharmaceuticals by 1.1% in the first quarter. Daiwa Securities Group Inc. now owns 10,921 shares of the biopharmaceutical company’s stock worth $1,632,000 after acquiring an additional 116 shares during the period. 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.