Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $338.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective upped by JPMorgan Chase & Co. from $330.00 to $338.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus increased their price objective on Alnylam Pharmaceuticals from $300.00 to $345.00 and gave the stock a “buy” rating in a research report on Monday, March 31st. Royal Bank of Canada increased their price objective on Alnylam Pharmaceuticals from $310.00 to $330.00 and gave the stock an “outperform” rating in a research report on Friday, March 21st. Chardan Capital increased their price objective on Alnylam Pharmaceuticals from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Redburn Atlantic initiated coverage on Alnylam Pharmaceuticals in a research report on Monday, March 31st. They issued a “buy” rating and a $353.00 price objective for the company. Finally, UBS Group increased their price objective on Alnylam Pharmaceuticals from $331.00 to $349.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $319.58.

Alnylam Pharmaceuticals Price Performance

Alnylam Pharmaceuticals stock opened at $307.99 on Thursday. Alnylam Pharmaceuticals has a 12 month low of $152.30 and a 12 month high of $310.22. The company has a debt-to-equity ratio of 15.27, a current ratio of 2.78 and a quick ratio of 2.71. The business has a 50 day simple moving average of $270.09 and a 200-day simple moving average of $259.06. The stock has a market capitalization of $40.16 billion, a PE ratio of -141.93 and a beta of 0.22.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.07). The firm had revenue of $594.19 million during the quarter, compared to analyst estimates of $584.32 million. Alnylam Pharmaceuticals’s revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.16) EPS. Equities analysts predict that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 19,297 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $306.00, for a total value of $5,904,882.00. Following the sale, the chief executive officer now directly owns 48,948 shares of the company’s stock, valued at approximately $14,978,088. This trade represents a 28.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Strs Ohio purchased a new position in shares of Alnylam Pharmaceuticals in the 1st quarter worth about $7,781,000. Geneos Wealth Management Inc. raised its holdings in shares of Alnylam Pharmaceuticals by 372.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 222 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 175 shares during the period. IFM Investors Pty Ltd increased its position in shares of Alnylam Pharmaceuticals by 0.6% in the first quarter. IFM Investors Pty Ltd now owns 23,850 shares of the biopharmaceutical company’s stock worth $6,440,000 after acquiring an additional 150 shares in the last quarter. Bayforest Capital Ltd increased its position in shares of Alnylam Pharmaceuticals by 14.6% in the first quarter. Bayforest Capital Ltd now owns 306 shares of the biopharmaceutical company’s stock worth $83,000 after acquiring an additional 39 shares in the last quarter. Finally, SCS Capital Management LLC acquired a new stake in shares of Alnylam Pharmaceuticals in the first quarter worth $46,194,000. 92.97% of the stock is currently 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.