Bank of America Raises Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $314.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target hoisted by Bank of America from $307.00 to $314.00 in a research report released on Monday morning, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other brokerages also recently issued reports on ALNY. The Goldman Sachs Group raised Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their price target for the company from $198.00 to $370.00 in a report on Friday, August 16th. Citigroup lifted their price objective on shares of Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. UBS Group lifted their price target on Alnylam Pharmaceuticals from $253.00 to $288.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Leerink Partners upped their price objective on Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the stock a “market perform” rating in a research report on Tuesday, June 25th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $234.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Monday, June 24th. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $286.82.

Alnylam Pharmaceuticals Stock Performance

Alnylam Pharmaceuticals stock opened at $300.55 on Monday. The firm has a market cap of $38.02 billion, a P/E ratio of -112.15 and a beta of 0.39. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $301.87. The business’s fifty day moving average is $270.77 and its two-hundred day moving average is $215.04.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.61. The business had revenue of $659.83 million for the quarter, compared to the consensus estimate of $447.22 million. The business’s revenue 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 research analysts predict that Alnylam Pharmaceuticals will post -2.73 earnings per share for the current year.

Insider Activity

In related news, CEO Yvonne Greenstreet sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total transaction of $4,200,000.00. Following the completion of the transaction, the chief executive officer now owns 73,441 shares in the company, valued at $20,563,480. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alnylam Pharmaceuticals news, Director Dennis A. Ausiello sold 20,250 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $262.00, for a total value of $5,305,500.00. Following the completion of the transaction, the director now owns 136 shares of the company’s stock, valued at approximately $35,632. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Yvonne Greenstreet sold 15,000 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total transaction of $4,200,000.00. Following the sale, the chief executive officer now owns 73,441 shares of the company’s stock, valued at approximately $20,563,480. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,398 shares of company stock valued at $13,595,460. 1.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALNY. V Square Quantitative Management LLC purchased a new position in Alnylam Pharmaceuticals in the 4th quarter worth approximately $52,000. Vanguard Group Inc. raised its holdings in Alnylam Pharmaceuticals by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock worth $2,286,181,000 after buying an additional 287,064 shares during the period. SteelPeak Wealth LLC increased its position in shares of Alnylam Pharmaceuticals by 147.7% in the first quarter. SteelPeak Wealth LLC now owns 6,860 shares of the biopharmaceutical company’s stock worth $1,025,000 after acquiring an additional 4,090 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Alnylam Pharmaceuticals by 572.0% during 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 period. Finally, Quattro Financial Advisors LLC boosted its holdings in shares of Alnylam Pharmaceuticals by 2,517.8% during the first quarter. Quattro Financial Advisors LLC now owns 5,000 shares of the biopharmaceutical company’s stock worth $747,000 after purchasing an additional 4,809 shares during the period. Hedge funds and other institutional investors own 92.97% of the company’s stock.

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.