Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Sees Large Growth in Short Interest

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) was the target of a large growth in short interest in October. As of October 15th, there was short interest totalling 4,840,000 shares, a growth of 7.3% from the September 30th total of 4,510,000 shares. Based on an average daily volume of 828,800 shares, the days-to-cover ratio is currently 5.8 days.

Analysts Set New Price Targets

Several analysts have recently commented on ALNY shares. JPMorgan Chase & Co. lifted their price target on shares of Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Canaccord Genuity Group lifted their price target on shares of Alnylam Pharmaceuticals from $357.00 to $366.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. The Goldman Sachs Group raised shares of Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their price target for the company from $198.00 to $370.00 in a research report on Friday, August 16th. Citigroup lifted their price target on shares of Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $400.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $290.86.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals 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 transaction, the chief executive officer now directly owns 73,441 shares of the company’s stock, valued at $20,563,480. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alnylam Pharmaceuticals 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 transaction, the chief executive officer now directly owns 73,441 shares of the company’s stock, valued at $20,563,480. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $262.00, for a total transaction of $5,305,500.00. Following the sale, the director now directly owns 136 shares in the company, valued at approximately $35,632. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,398 shares of company stock valued at $13,595,460 in the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in Alnylam Pharmaceuticals by 572.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 143 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Alnylam Pharmaceuticals in the second quarter valued at $26,000. Altitude Crest Partners Inc. purchased a new stake in Alnylam Pharmaceuticals in the first quarter valued at $30,000. Friedenthal Financial purchased a new stake in Alnylam Pharmaceuticals in the third quarter valued at $51,000. Finally, Farther Finance Advisors LLC lifted its position in Alnylam Pharmaceuticals by 95.4% in the third quarter. Farther Finance Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $58,000 after acquiring an additional 103 shares during the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Trading Down 0.8 %

Shares of ALNY stock opened at $284.69 on Wednesday. The firm has a fifty day moving average price of $274.75 and a 200 day moving average price of $224.30. The company has a market cap of $36.01 billion, a P/E ratio of -106.23 and a beta of 0.39. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.61. The firm had revenue of $659.83 million for the quarter, compared to analyst estimates of $447.22 million. The business’s revenue for the quarter was up 107.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.21) EPS. On average, equities analysts forecast that Alnylam Pharmaceuticals will post -2.73 EPS for the current year.

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.