Morgan Stanley Issues Positive Forecast for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target boosted by stock analysts at Morgan Stanley from $275.00 to $284.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target suggests a potential upside of 7.40% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of Alnylam Pharmaceuticals in a report on Tuesday, November 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday. Canaccord Genuity Group upped their target price on shares of Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Raymond James upped their target price on shares of Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Scotiabank upped their price objective on shares of Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Alnylam Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $299.87.

Alnylam Pharmaceuticals Price Performance

NASDAQ:ALNY opened at $264.44 on Friday. 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 firm has a market cap of $34.11 billion, a price-to-earnings ratio of -101.51 and a beta of 0.35. The company has a 50 day moving average price of $254.03 and a 200-day moving average price of $263.00. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year 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 analysts’ consensus estimates of ($0.62) by ($0.03). Equities research analysts forecast that Alnylam Pharmaceuticals will post -2.24 EPS for the current year.

Insider Activity 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 document filed with the SEC, which can be accessed through this link. Also, CEO Yvonne Greenstreet sold 5,219 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total value of $1,309,864.62. Following the sale, the chief executive officer now directly owns 78,880 shares in the company, valued at approximately $19,797,302.40. This represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,964 shares of company stock valued at $20,622,925. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank grew its stake in Alnylam Pharmaceuticals by 91.8% during the 3rd quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 45 shares during the last quarter. Larson Financial Group LLC grew its stake in Alnylam Pharmaceuticals by 187.2% during the 4th quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 73 shares during the last quarter. Hollencrest Capital Management bought a new position in Alnylam Pharmaceuticals during the 3rd quarter worth $29,000. R Squared Ltd bought a new position in Alnylam Pharmaceuticals during the 4th quarter worth $33,000. Finally, OFI Invest Asset Management bought a new position in Alnylam Pharmaceuticals during the 4th quarter worth $35,000. 92.97% of the stock is currently owned by institutional investors.

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.