Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $485.00 Price Target at HC Wainwright

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target increased by analysts at HC Wainwright from $470.00 to $485.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 68.38% from the company’s current price.

Several other analysts have also recently commented on ALNY. Truist Financial set a $410.00 target price on Alnylam Pharmaceuticals and gave the company a “buy” rating in a report on Monday. Weiss Ratings upgraded Alnylam Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Chardan Capital reissued a “buy” rating and issued a $425.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Wednesday, March 25th. Wells Fargo & Company boosted their price target on Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Finally, Jefferies Financial Group restated a “hold” rating and set a $330.00 price target (down from $522.00) on shares of Alnylam Pharmaceuticals in a report on Monday, March 16th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $457.57.

Alnylam Pharmaceuticals Trading Down 3.6%

Shares of Alnylam Pharmaceuticals stock traded down $10.72 during trading on Monday, hitting $288.04. The company’s stock had a trading volume of 995,396 shares, compared to its average volume of 1,292,855. The stock has a market cap of $38.46 billion, a price-to-earnings ratio of 78.70 and a beta of 0.27. Alnylam Pharmaceuticals has a 52 week low of $273.11 and a 52 week high of $495.55. The stock has a 50-day moving average price of $296.27 and a two-hundred day moving average price of $324.92. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.13 and a quick ratio of 3.06.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, topping the consensus estimate of $0.87 by $1.12. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The business’s quarterly revenue was up 96.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.44) EPS. Equities research analysts anticipate that Alnylam Pharmaceuticals will post 7.29 EPS for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, Director David E. I. Pyott sold 3,830 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the transaction, the director directly owned 1,582 shares of the company’s stock, valued at $473,302.76. This represents a 70.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Groupama Asset Managment grew its holdings in shares of Alnylam Pharmaceuticals by 160.4% during the third quarter. Groupama Asset Managment now owns 4,032,082 shares of the biopharmaceutical company’s stock valued at $18,610,000 after buying an additional 2,483,697 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Alnylam Pharmaceuticals by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 2,650,722 shares of the biopharmaceutical company’s stock worth $1,056,884,000 after acquiring an additional 151,480 shares during the last quarter. Norges Bank bought a new position in Alnylam Pharmaceuticals in the 4th quarter valued at about $895,816,000. Orbis Allan Gray Ltd boosted its stake in Alnylam Pharmaceuticals by 29.8% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company’s stock valued at $691,771,000 after purchasing an additional 486,489 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Alnylam Pharmaceuticals by 8.3% during the 4th quarter. Legal & General Group Plc now owns 961,496 shares of the biopharmaceutical company’s stock worth $382,339,000 after purchasing an additional 73,716 shares in the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc (NASDAQ: ALNY) is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.