Brokerages Set Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Price Target at $294.50

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-four research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eighteen have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $298.09.

ALNY has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. Bank of America raised their price objective on Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Piper Sandler reaffirmed an “overweight” rating and issued a $296.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Monday. Raymond James increased their target price on Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, TD Cowen increased their target price on Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a “buy” rating in a research note on Monday, October 21st.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of large investors have recently modified their holdings of ALNY. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 acquiring an additional 143 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Alnylam Pharmaceuticals during the 2nd quarter valued at $26,000. Huntington National Bank boosted its holdings in shares of Alnylam Pharmaceuticals by 91.8% during the 3rd quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 45 shares in the last quarter. Hollencrest Capital Management acquired a new stake in shares of Alnylam Pharmaceuticals during the 3rd quarter valued at $29,000. Finally, Altitude Crest Partners Inc. acquired a new stake in shares of Alnylam Pharmaceuticals during the 1st quarter valued at $30,000. Institutional investors and hedge funds own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ ALNY opened at $232.27 on Friday. The stock has a 50 day moving average price of $274.53 and a 200 day moving average price of $236.10. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $304.39. The company has a debt-to-equity ratio of 31.64, a quick ratio of 2.69 and a current ratio of 2.75. The stock has a market capitalization of $29.96 billion, a PE ratio of -88.65 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data 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 the consensus estimate of $532.91 million. During the same period last year, the firm posted $1.15 earnings per share. The firm’s revenue was down 33.3% on a year-over-year basis. Analysts predict that Alnylam Pharmaceuticals will post -2.22 earnings per share for the current fiscal year.

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.