Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $390.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target increased by Canaccord Genuity Group from $385.00 to $390.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also issued reports on the company. Bank of America raised their price objective on Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the company a “buy” rating in a research note on Friday. HC Wainwright raised their price objective on Alnylam Pharmaceuticals from $400.00 to $500.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Morgan Stanley raised their price objective on Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Chardan Capital reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday. Finally, Wells Fargo & Company raised their price target on Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the stock an “equal weight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $310.22.

Alnylam Pharmaceuticals Price Performance

Shares of Alnylam Pharmaceuticals stock opened at $283.34 on Friday. The stock has a 50 day moving average of $257.16 and a 200 day moving average of $259.74. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $304.39. The firm has a market cap of $36.68 billion, a PE ratio of -130.57 and a beta of 0.39. The company has a current ratio of 2.78, a quick ratio of 2.71 and a debt-to-equity ratio of 15.27.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.03). On average, research analysts expect that Alnylam Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insider Activity

In other news, Director Phillip A. Sharp sold 11,250 shares of Alnylam Pharmaceuticals stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $275.00, for a total value of $3,093,750.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Yvonne Greenstreet sold 1,213 shares of Alnylam Pharmaceuticals stock in a transaction on Friday, February 14th. The shares were sold at an average price of $255.17, for a total value of $309,521.21. Following the completion of the transaction, the chief executive officer now owns 81,526 shares in the company, valued at $20,802,989.42. This represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,234 shares of company stock worth $19,958,097. 1.50% of the stock is currently owned by company insiders.

Institutional Trading of Alnylam Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System boosted its position in shares of Alnylam Pharmaceuticals by 2.6% in the 4th quarter. California State Teachers Retirement System now owns 196,362 shares of the biopharmaceutical company’s stock worth $46,206,000 after purchasing an additional 5,037 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Alnylam Pharmaceuticals by 94.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,566 shares of the biopharmaceutical company’s stock worth $2,957,000 after purchasing an additional 6,112 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter worth $10,011,000. Bannerman Wealth Management Group LLC acquired a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter worth $327,000. Finally, Siemens Fonds Invest GmbH boosted its position in shares of Alnylam Pharmaceuticals by 137.7% in the 4th quarter. Siemens Fonds Invest GmbH now owns 3,245 shares of the biopharmaceutical company’s stock worth $764,000 after purchasing an additional 1,880 shares in the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

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.