Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $275.00 at Raymond James

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective hoisted by Raymond James from $242.00 to $275.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has an outperform rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also weighed in on ALNY. Morgan Stanley increased their target price on Alnylam Pharmaceuticals from $250.00 to $255.00 and gave the stock an equal weight rating in a research note on Friday, July 12th. William Blair reiterated an outperform rating on shares of Alnylam Pharmaceuticals in a research note on Monday, April 8th. Royal Bank of Canada increased their target price on Alnylam Pharmaceuticals from $235.00 to $250.00 and gave the stock an outperform rating in a research note on Tuesday, June 25th. UBS Group increased their target price on Alnylam Pharmaceuticals from $253.00 to $288.00 and gave the stock a buy rating in a research note on Friday, June 28th. Finally, JPMorgan Chase & Co. raised their price objective on Alnylam Pharmaceuticals from $160.00 to $248.00 and gave the stock a neutral rating in a research note on Wednesday, July 3rd. Eight equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals has a consensus rating of Moderate Buy and a consensus target price of $269.32.

Alnylam Pharmaceuticals Stock Down 2.6 %

NASDAQ:ALNY opened at $265.00 on Friday. The stock’s 50 day moving average price is $211.34 and its two-hundred day moving average price is $175.01. The firm has a market capitalization of $33.52 billion, a price-to-earnings ratio of -98.88 and a beta of 0.37. Alnylam Pharmaceuticals has a 12-month low of $141.98 and a 12-month high of $274.93.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.61. The business had revenue of $659.83 million during the quarter, compared to the consensus estimate of $447.22 million. Alnylam Pharmaceuticals’s quarterly revenue was up 107.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.21) EPS. Equities research analysts expect that Alnylam Pharmaceuticals will post -3.99 EPS for the current year.

Insider Activity at Alnylam Pharmaceuticals

In related news, Director David E. I. Pyott sold 32,450 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $220.69, for a total transaction of $7,161,390.50. Following the sale, the director now owns 136 shares of the company’s stock, valued at approximately $30,013.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the firm’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 sale, the executive vice president now owns 14,181 shares of the company’s stock, valued at approximately $3,275,669.19. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David E. I. Pyott sold 32,450 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $220.69, for a total value of $7,161,390.50. Following the transaction, the director now directly owns 136 shares of the company’s stock, valued at $30,013.84. The disclosure for this sale can be found here. Insiders have sold a total of 89,598 shares of company stock valued at $19,377,944 in the last 90 days. 1.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ALNY. Norges Bank bought a new position in shares of Alnylam Pharmaceuticals in the 4th quarter worth $390,438,000. Capital International Investors increased its position in shares of Alnylam Pharmaceuticals by 15.8% during the 4th quarter. Capital International Investors now owns 3,586,657 shares of the biopharmaceutical company’s stock valued at $686,641,000 after purchasing an additional 488,814 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Alnylam Pharmaceuticals by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock valued at $2,286,181,000 after purchasing an additional 287,064 shares during the last quarter. Capital Research Global Investors increased its holdings in Alnylam Pharmaceuticals by 7.3% in the 1st quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock worth $470,018,000 after acquiring an additional 214,908 shares during the last quarter. Finally, abrdn plc increased its holdings in Alnylam Pharmaceuticals by 910.7% in the 4th quarter. abrdn plc now owns 232,716 shares of the biopharmaceutical company’s stock worth $44,544,000 after acquiring an additional 209,691 shares during the last quarter. 92.97% of the stock is 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.