Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $295.00 at Bank of America

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective upped by Bank of America from $248.00 to $295.00 in a report released on Tuesday morning, Benzinga reports. Bank of America currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently issued reports on ALNY. Chardan Capital restated a buy rating and set a $225.00 price objective on shares of Alnylam Pharmaceuticals in a report on Friday, May 3rd. SVB Leerink upped their price objective on shares of Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the company a market perform rating in a research note on Tuesday. Canaccord Genuity Group reissued a buy rating and issued a $283.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday, June 21st. StockNews.com raised shares of Alnylam Pharmaceuticals from a hold rating to a buy rating in a research report on Monday, April 29th. Finally, HC Wainwright reissued a buy rating and set a $400.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Monday, June 24th. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Alnylam Pharmaceuticals presently has a consensus rating of Moderate Buy and an average price target of $247.09.

Alnylam Pharmaceuticals Trading Down 1.6 %

Shares of ALNY stock opened at $243.00 on Tuesday. The company has a market capitalization of $30.74 billion, a price-to-earnings ratio of -90.67 and a beta of 0.30. The firm has a 50-day moving average price of $159.86 and a 200 day moving average price of $164.73. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $252.87.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.23. The firm had revenue of $494.33 million for the quarter, compared to analysts’ expectations of $428.01 million. The business’s quarterly revenue was up 54.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.40) earnings per share. As a group, research analysts predict that Alnylam Pharmaceuticals will post -3.75 earnings per share for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In related news, CFO Jeffrey V. Poulton sold 1,605 shares of Alnylam Pharmaceuticals stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $231.00, for a total transaction of $370,755.00. Following the sale, the chief financial officer now owns 28,892 shares of the company’s stock, valued at approximately $6,674,052. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 14,181 shares in the company, valued at approximately $3,275,669.19. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jeffrey V. Poulton sold 1,605 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $231.00, for a total transaction of $370,755.00. Following the sale, the chief financial officer now directly owns 28,892 shares of the company’s stock, valued at approximately $6,674,052. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,357 shares of company stock valued at $13,436,711. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. raised its position in shares of Alnylam Pharmaceuticals by 1.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 2,938 shares of the biopharmaceutical company’s stock valued at $562,000 after acquiring an additional 51 shares in the last quarter. EP Wealth Advisors LLC lifted its position in shares of Alnylam Pharmaceuticals by 6.4% in the 3rd quarter. EP Wealth Advisors LLC now owns 1,177 shares of the biopharmaceutical company’s stock worth $208,000 after buying an additional 71 shares during the last quarter. Commerce Bank grew its position in shares of Alnylam Pharmaceuticals by 1.7% during the 4th quarter. Commerce Bank now owns 4,683 shares of the biopharmaceutical company’s stock valued at $896,000 after buying an additional 77 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Alnylam Pharmaceuticals by 7.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,368 shares of the biopharmaceutical company’s stock worth $262,000 after acquiring an additional 89 shares during the period. Finally, Metis Global Partners LLC lifted its holdings in Alnylam Pharmaceuticals by 2.2% in the fourth quarter. Metis Global Partners LLC now owns 4,382 shares of the biopharmaceutical company’s stock worth $839,000 after acquiring an additional 94 shares during the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

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.