Canaccord Genuity Group Raises Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $385.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price raised by Canaccord Genuity Group from $384.00 to $385.00 in a report published on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also commented on the company. Barclays increased their price target on Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Needham & Company LLC restated a “buy” rating and issued a $320.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, February 14th. Piper Sandler restated an “overweight” rating and set a $296.00 target price on shares of Alnylam Pharmaceuticals in a research note on Monday, November 18th. StockNews.com downgraded Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, William Blair restated an “outperform” rating on shares of Alnylam Pharmaceuticals in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $299.48.

Alnylam Pharmaceuticals Trading Down 2.5 %

Alnylam Pharmaceuticals stock opened at $250.00 on Tuesday. The stock has a market capitalization of $32.25 billion, a PE ratio of -95.42 and a beta of 0.35. The company has a debt-to-equity ratio of 31.64, a current ratio of 2.75 and a quick ratio of 2.69. The business’s fifty day moving average is $253.96 and its 200 day moving average is $263.29. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). On average, sell-side analysts predict that Alnylam Pharmaceuticals will post -2.24 EPS for the current year.

Insider Buying and Selling

In related news, EVP Kevin Joseph Fitzgerald sold 1,440 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $251.56, for a total transaction of $362,246.40. Following the completion of the transaction, the executive vice president now directly owns 12,881 shares of the company’s stock, valued at $3,240,344.36. This represents a 10.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CMO Pushkal Garg sold 1,682 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total transaction of $422,148.36. Following the completion of the transaction, the chief marketing officer now directly owns 17,457 shares of the company’s stock, valued at approximately $4,381,357.86. This trade represents a 8.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,356 shares of company stock worth $22,498,551. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Large investors have recently modified their holdings of the business. Huntington National Bank boosted its position in Alnylam Pharmaceuticals by 91.8% during the third quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 45 shares during the last quarter. Hollencrest Capital Management bought a new stake in Alnylam Pharmaceuticals during the third quarter valued at $29,000. Larson Financial Group LLC grew its position in shares of Alnylam Pharmaceuticals by 187.2% during the fourth quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 73 shares during the last quarter. R Squared Ltd bought a new position in shares of Alnylam Pharmaceuticals during the fourth quarter worth about $33,000. Finally, Colonial Trust Co SC bought a new position in Alnylam Pharmaceuticals in the 4th quarter valued at about $35,000. 92.97% of the stock is currently owned by institutional investors and hedge funds.

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.