Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $384.00 Price Target at Canaccord Genuity Group

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target boosted by Canaccord Genuity Group from $366.00 to $384.00 in a research note released on Friday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the biopharmaceutical company’s stock.

ALNY has been the topic of several other research reports. HC Wainwright reissued a “buy” rating and issued a $400.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, October 18th. Bank of America raised their target price on Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. TD Cowen boosted their target price on Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. The Goldman Sachs Group upgraded shares of Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price target for the company from $198.00 to $370.00 in a research note on Friday, August 16th. Finally, Barclays boosted their price objective on shares of Alnylam Pharmaceuticals from $291.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $294.50.

Alnylam Pharmaceuticals Stock Performance

Shares of Alnylam Pharmaceuticals stock opened at $269.95 on Friday. The business has a 50-day simple moving average of $274.61 and a 200-day simple moving average of $227.00. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $304.39. The company has a market cap of $34.66 billion, a PE ratio of -103.03 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.36). The business had revenue of $500.90 million for the quarter, compared to the consensus estimate of $532.91 million. During the same period in the previous year, the business earned $1.15 EPS. The firm’s quarterly revenue was down 33.3% compared to the same quarter last year. On average, sell-side analysts predict that Alnylam Pharmaceuticals will post -2.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total value of $4,200,000.00. Following the completion of the sale, the chief executive officer now owns 73,441 shares of the company’s stock, valued at approximately $20,563,480. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its stake in shares of Alnylam Pharmaceuticals by 572.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 143 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Alnylam Pharmaceuticals in the 2nd quarter valued at approximately $26,000. Hollencrest Capital Management acquired a new position in Alnylam Pharmaceuticals during the third quarter worth $29,000. Altitude Crest Partners Inc. purchased a new stake in Alnylam Pharmaceuticals during the first quarter worth $30,000. Finally, Washington Trust Advisors Inc. acquired a new stake in Alnylam Pharmaceuticals in the third quarter valued at $42,000. 92.97% of the stock is currently owned by institutional investors and hedge funds.

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.