Morgan Stanley Boosts Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $255.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price increased by equities research analysts at Morgan Stanley from $250.00 to $255.00 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 downside of 3.04% from the company’s previous close.

Other analysts also recently issued research reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $400.00 target price on shares of Alnylam Pharmaceuticals in a report on Monday, June 24th. Citigroup boosted their target price on Alnylam Pharmaceuticals from $227.00 to $291.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Stifel Nicolaus lifted their price target on Alnylam Pharmaceuticals from $215.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Barclays upped their price objective on Alnylam Pharmaceuticals from $236.00 to $291.00 and gave the company an “overweight” rating in a research note on Tuesday, June 25th. Finally, Bank of America lifted their target price on Alnylam Pharmaceuticals from $248.00 to $295.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Alnylam Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $253.55.

Alnylam Pharmaceuticals Trading Up 0.8 %

Shares of ALNY traded up $1.98 during trading hours on Friday, reaching $263.00. The stock had a trading volume of 464,077 shares, compared to its average volume of 884,507. The company has a market capitalization of $33.27 billion, a price-to-earnings ratio of -98.13 and a beta of 0.37. The firm has a 50-day simple moving average of $178.94 and a 200 day simple moving average of $169.02. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $263.73.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.23. The business had revenue of $494.33 million for the quarter, compared to analyst estimates of $428.01 million. The firm’s quarterly revenue was up 54.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.40) earnings per share. On average, equities analysts forecast that Alnylam Pharmaceuticals will post -3.92 EPS for the current year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, Director Amy W. Schulman sold 21,700 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $148.60, for a total value of $3,224,620.00. Following the completion of the transaction, the director now owns 8,436 shares of the company’s stock, valued at approximately $1,253,589.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Amy W. Schulman sold 21,700 shares of Alnylam Pharmaceuticals stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $148.60, for a total transaction of $3,224,620.00. Following the completion of the sale, the director now directly owns 8,436 shares of the company’s stock, valued at approximately $1,253,589.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total transaction of $276,726.02. Following the completion of the transaction, the executive vice president now owns 14,181 shares of the company’s stock, valued at $3,275,669.19. The disclosure for this sale can be found here. Insiders have sold 67,357 shares of company stock valued at $13,436,711 over the last three months. 1.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of hedge funds have recently made changes to their positions in ALNY. Allspring Global Investments Holdings LLC raised its position in Alnylam Pharmaceuticals by 572.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 143 shares during the period. Quent Capital LLC lifted its stake in shares of Alnylam Pharmaceuticals by 246.0% in the 4th quarter. Quent Capital LLC now owns 173 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 123 shares during the last quarter. Anchor Investment Management LLC purchased a new stake in Alnylam Pharmaceuticals during the 4th quarter valued at about $38,000. Altitude Crest Partners Inc. bought a new position in Alnylam Pharmaceuticals during the 1st quarter worth approximately $30,000. Finally, GAMMA Investing LLC purchased a new position in Alnylam Pharmaceuticals in the 4th quarter worth approximately $52,000. 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.