Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $366.00 Price Target at Canaccord Genuity Group

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective boosted by equities research analysts at Canaccord Genuity Group from $357.00 to $366.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 36.26% from the company’s current price.

ALNY has been the topic of a number of other reports. Stifel Nicolaus boosted their target price on shares of Alnylam Pharmaceuticals from $215.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Bank of America increased their price objective on Alnylam Pharmaceuticals from $248.00 to $295.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. JPMorgan Chase & Co. upped their price target on Alnylam Pharmaceuticals from $160.00 to $248.00 and gave the company a “neutral” rating in a research report on Wednesday, July 3rd. Citigroup raised their price objective on Alnylam Pharmaceuticals from $227.00 to $291.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Finally, Needham & Company LLC increased their target price on shares of Alnylam Pharmaceuticals from $200.00 to $275.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Alnylam Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $259.18.

Alnylam Pharmaceuticals Stock Up 13.1 %

NASDAQ ALNY opened at $268.61 on Friday. The company has a market cap of $33.98 billion, a price-to-earnings ratio of -100.23 and a beta of 0.37. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $271.01. The business’s fifty day moving average is $204.12 and its 200 day moving average is $173.44.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.23. The firm had revenue of $494.33 million for the quarter, compared to analyst estimates of $428.01 million. During the same period in the previous year, the business posted ($1.40) earnings per share. The business’s revenue for the quarter was up 54.8% compared to the same quarter last year. On average, research analysts anticipate that Alnylam Pharmaceuticals will post -3.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 7,093 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $261.00, for a total value of $1,851,273.00. Following the completion of the sale, the chief executive officer now owns 73,441 shares of the company’s stock, valued at $19,168,101. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 7,093 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $261.00, for a total transaction of $1,851,273.00. Following the transaction, the chief executive officer now owns 73,441 shares in the company, valued at $19,168,101. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kevin Joseph Fitzgerald sold 1,198 shares of Alnylam Pharmaceuticals stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $230.99, for a total transaction of $276,726.02. Following 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. In the last three months, insiders have sold 74,450 shares of company stock valued at $15,287,984. 1.50% of the stock is owned by company insiders.

Institutional Trading of Alnylam Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James & Associates raised its position in Alnylam Pharmaceuticals by 15.1% in the 4th quarter. Raymond James & Associates now owns 14,286 shares of the biopharmaceutical company’s stock valued at $2,734,000 after buying an additional 1,875 shares during the last quarter. Ballentine Partners LLC purchased a new position in Alnylam Pharmaceuticals during the fourth quarter worth about $234,000. Arizona State Retirement System boosted its holdings in Alnylam Pharmaceuticals by 1.1% during the fourth quarter. Arizona State Retirement System now owns 34,356 shares of the biopharmaceutical company’s stock worth $6,576,000 after purchasing an additional 383 shares during the last quarter. Quilter Plc bought a new stake in Alnylam Pharmaceuticals in the 4th quarter worth about $255,000. Finally, Asset Management One Co. Ltd. increased its stake in Alnylam Pharmaceuticals by 41.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 69,334 shares of the biopharmaceutical company’s stock valued at $13,569,000 after buying an additional 20,268 shares during the last quarter. 92.97% of the stock is owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Company Profile

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.