Raymond James Issues Positive Forecast for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price boosted by Raymond James from $275.00 to $298.00 in a report issued on Friday morning, Benzinga reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently commented on the stock. Chardan Capital reissued a “buy” rating and issued a $300.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday. Wells Fargo & Company upped their target price on shares of Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. TD Cowen raised their price target on Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the company a “buy” rating in a research report on Monday, October 21st. The Goldman Sachs Group upgraded Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $198.00 to $370.00 in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. raised their price objective on Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Six research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $294.50.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY stock opened at $269.95 on Friday. The company has a market capitalization of $34.66 billion, a PE ratio of -103.03 and a beta of 0.39. Alnylam Pharmaceuticals has a 52-week low of $141.98 and a 52-week high of $304.39. The business’s fifty day moving average is $274.61 and its 200 day moving average is $227.00.

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

Insider Activity

In related news, CEO Yvonne Greenstreet sold 15,000 shares of the firm’s stock in a transaction dated 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its position in Alnylam Pharmaceuticals by 572.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 143 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Alnylam Pharmaceuticals during the 2nd quarter valued at about $26,000. Hollencrest Capital Management bought a new stake in shares of Alnylam Pharmaceuticals during the 3rd quarter valued at about $29,000. Altitude Crest Partners Inc. purchased a new position in shares of Alnylam Pharmaceuticals during the first quarter valued at about $30,000. Finally, Washington Trust Advisors Inc. bought a new position in Alnylam Pharmaceuticals in the third quarter worth about $42,000. Institutional investors own 92.97% of the company’s stock.

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.