Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price Expected to Rise, Citigroup Analyst Says

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective upped by Citigroup from $338.00 to $351.00 in a research note released on Friday,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

ALNY has been the topic of several other research reports. William Blair reiterated an “outperform” rating on shares of Alnylam Pharmaceuticals in a research report on Friday. Royal Bank of Canada increased their price objective on Alnylam Pharmaceuticals from $310.00 to $330.00 and gave the stock an “outperform” rating in a research report on Friday. StockNews.com lowered Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday. Needham & Company LLC reissued a “buy” rating and set a $320.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday. Finally, Chardan Capital reissued a “buy” rating and set a $300.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $310.22.

Alnylam Pharmaceuticals Stock Up 11.8 %

ALNY stock opened at $283.34 on Friday. The company has a debt-to-equity ratio of 15.27, a current ratio of 2.78 and a quick ratio of 2.71. The stock has a market capitalization of $36.68 billion, a price-to-earnings ratio of -130.57 and a beta of 0.39. The business’s fifty day moving average price is $257.16 and its two-hundred day moving average price is $259.74. 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 posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.03). On average, equities analysts anticipate that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, Director Phillip A. Sharp sold 11,250 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $275.00, for a total transaction of $3,093,750.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Pushkal Garg sold 52,592 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $285.00, for a total value of $14,988,720.00. Following the transaction, the chief marketing officer now directly owns 11,989 shares in the company, valued at approximately $3,416,865. This trade represents a 81.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,234 shares of company stock valued at $19,958,097. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC purchased a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter worth approximately $61,160,000. Strategic Financial Concepts LLC purchased a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter worth approximately $41,529,000. Truist Financial Corp raised its stake in shares of Alnylam Pharmaceuticals by 136.6% in the fourth quarter. Truist Financial Corp now owns 4,398 shares of the biopharmaceutical company’s stock worth $1,035,000 after purchasing an additional 2,539 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Alnylam Pharmaceuticals by 3.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 286,703 shares of the biopharmaceutical company’s stock worth $67,464,000 after purchasing an additional 8,462 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Alnylam Pharmaceuticals by 13.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,918 shares of the biopharmaceutical company’s stock worth $4,687,000 after purchasing an additional 2,285 shares during the last quarter. 92.97% of the stock is 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.