Citigroup Raises Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $342.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective boosted by Citigroup from $291.00 to $342.00 in a report published on Friday, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Other research analysts have also issued reports about the company. Barclays increased their price objective on Alnylam Pharmaceuticals from $291.00 to $295.00 and gave the company an overweight rating in a research report on Friday. Needham & Company LLC increased their price objective on Alnylam Pharmaceuticals from $275.00 to $320.00 and gave the company a buy rating in a research report on Friday. Stifel Nicolaus increased their price objective on Alnylam Pharmaceuticals from $215.00 to $295.00 and gave the company a buy rating in a research report on Thursday, June 27th. UBS Group increased their price objective on Alnylam Pharmaceuticals from $253.00 to $288.00 and gave the company a buy rating in a research report on Friday, June 28th. Finally, SVB Leerink raised their price target 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. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $269.32.

Alnylam Pharmaceuticals Price Performance

NASDAQ ALNY opened at $265.00 on Friday. The firm has a market cap of $33.52 billion, a PE ratio of -98.88 and a beta of 0.37. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $274.93. The stock’s 50 day simple moving average is $211.34 and its 200 day simple moving average is $175.01.

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

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, EVP Kevin Joseph Fitzgerald sold 1,198 shares of Alnylam Pharmaceuticals stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total value 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 Securities & Exchange Commission, which is accessible through the SEC website. In other Alnylam Pharmaceuticals news, EVP Kevin Joseph Fitzgerald sold 1,198 shares of Alnylam Pharmaceuticals stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total value 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy W. Schulman sold 21,700 shares of Alnylam Pharmaceuticals stock in a transaction dated 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 sale, the director now directly owns 8,436 shares in the company, valued at approximately $1,253,589.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,598 shares of company stock valued at $19,377,944. 1.50% of the stock is owned by company insiders.

Institutional Trading of Alnylam Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Arizona State Retirement System increased its position in shares of Alnylam Pharmaceuticals by 0.6% in the second quarter. Arizona State Retirement System now owns 34,736 shares of the biopharmaceutical company’s stock valued at $8,441,000 after acquiring an additional 219 shares during the last quarter. ANTIPODES PARTNERS Ltd increased its position in shares of Alnylam Pharmaceuticals by 16.1% in the second quarter. ANTIPODES PARTNERS Ltd now owns 238,749 shares of the biopharmaceutical company’s stock valued at $59,432,000 after acquiring an additional 33,170 shares during the last quarter. TD Asset Management Inc increased its position in shares of Alnylam Pharmaceuticals by 6.0% in the second quarter. TD Asset Management Inc now owns 489,940 shares of the biopharmaceutical company’s stock valued at $119,055,000 after acquiring an additional 27,592 shares during the last quarter. JGP Global Gestao de Recursos Ltda. acquired a new stake in shares of Alnylam Pharmaceuticals in the second quarter valued at about $300,000. Finally, CIBC Asset Management Inc increased its position in shares of Alnylam Pharmaceuticals by 5.6% in the second quarter. CIBC Asset Management Inc now owns 4,249 shares of the biopharmaceutical company’s stock valued at $1,033,000 after acquiring an additional 227 shares during the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

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.