Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $500.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target raised by HC Wainwright from $400.00 to $500.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Other analysts have also recently issued reports about the company. Raymond James boosted their price target on Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. StockNews.com downgraded shares of Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Canaccord Genuity Group increased their price target on shares of Alnylam Pharmaceuticals from $384.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Piper Sandler reaffirmed an “overweight” rating and issued a $296.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Monday, November 18th. Finally, Chardan Capital restated a “buy” rating and issued a $300.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $304.26.

Alnylam Pharmaceuticals Stock Down 0.5 %

Shares of NASDAQ ALNY opened at $243.86 on Monday. The firm has a fifty day simple moving average of $254.33 and a two-hundred day simple moving average of $262.59. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $304.39. The company has a current ratio of 2.78, a quick ratio of 2.71 and a debt-to-equity ratio of 15.27. The firm has a market capitalization of $31.57 billion, a PE ratio of -112.38 and a beta of 0.35.

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). Equities analysts expect that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Jeffrey V. Poulton sold 967 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $255.17, for a total transaction of $246,749.39. Following the completion of the transaction, the chief financial officer now directly owns 32,786 shares of the company’s stock, valued at approximately $8,366,003.62. This represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Pushkal Garg sold 1,752 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $251.00, for a total value of $439,752.00. Following the sale, the chief marketing officer now directly owns 15,705 shares in the company, valued at $3,941,955. This trade represents a 10.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,986 shares of company stock worth $20,397,849 in the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Alnylam Pharmaceuticals

Several hedge funds have recently made changes to their positions in ALNY. Blue Trust Inc. boosted its holdings in shares of Alnylam Pharmaceuticals by 431.0% in the 3rd quarter. Blue Trust Inc. now owns 462 shares of the biopharmaceutical company’s stock worth $127,000 after purchasing an additional 375 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Alnylam Pharmaceuticals by 62.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 420 shares of the biopharmaceutical company’s stock worth $116,000 after acquiring an additional 161 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Alnylam Pharmaceuticals during the 3rd quarter worth about $30,260,000. Ballentine Partners LLC raised its position in Alnylam Pharmaceuticals by 10.4% in the 3rd quarter. Ballentine Partners LLC now owns 1,534 shares of the biopharmaceutical company’s stock worth $422,000 after purchasing an additional 145 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Alnylam Pharmaceuticals by 56.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,454 shares of the biopharmaceutical company’s stock worth $1,775,000 after purchasing an additional 2,323 shares during the last quarter. 92.97% of the stock is currently owned by hedge funds and other 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.