Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $248.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective upped by equities research analysts at JPMorgan Chase & Co. from $160.00 to $248.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 0.73% from the company’s current price.

Several other research firms have also issued reports on ALNY. Canaccord Genuity Group restated a “buy” rating and set a $283.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday, June 21st. Morgan Stanley raised their target price on Alnylam Pharmaceuticals from $164.00 to $250.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 25th. SVB Leerink raised their price objective on Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the company a “market perform” rating in a research report on Tuesday, June 25th. Citigroup upped their target price on shares of Alnylam Pharmaceuticals from $227.00 to $291.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Finally, TD Cowen upped their price objective on shares of Alnylam Pharmaceuticals from $260.00 to $282.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $249.95.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY traded down $1.41 during midday trading on Wednesday, hitting $246.20. 143,990 shares of the company traded hands, compared to its average volume of 882,251. The stock has a 50-day moving average of $163.85 and a 200-day moving average of $165.40. The firm has a market cap of $31.14 billion, a P/E ratio of -92.16 and a beta of 0.37. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $252.87.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.23. The company had revenue of $494.33 million during the quarter, compared to the consensus estimate of $428.01 million. During the same quarter last year, the company posted ($1.40) earnings per share. The firm’s revenue for the quarter was up 54.8% on a year-over-year basis. Sell-side analysts forecast that Alnylam Pharmaceuticals will post -3.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, Director Amy W. Schulman sold 21,700 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 8,436 shares in the company, valued at $1,253,589.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Jeffrey V. Poulton sold 1,605 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $231.00, for a total transaction of $370,755.00. Following the completion of the sale, the chief financial officer now owns 28,892 shares in the company, valued at $6,674,052. 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 the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $148.60, for a total value of $3,224,620.00. Following the completion of the transaction, the director now directly owns 8,436 shares in the company, valued at $1,253,589.60. The disclosure for this sale can be found here. Insiders sold a total of 67,357 shares of company stock worth $13,436,711 over the last quarter. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Alnylam Pharmaceuticals by 0.4% during the first quarter. Vanguard Group Inc. now owns 11,994,261 shares of the biopharmaceutical company’s stock valued at $1,792,542,000 after purchasing an additional 50,366 shares in the last quarter. Wellington Management Group LLP boosted its stake in Alnylam Pharmaceuticals by 6.0% during the third quarter. Wellington Management Group LLP now owns 6,431,814 shares of the biopharmaceutical company’s stock worth $1,139,074,000 after buying an additional 364,021 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Alnylam Pharmaceuticals by 5.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock valued at $550,837,000 after purchasing an additional 201,784 shares during the last quarter. Capital International Investors raised its holdings in shares of Alnylam Pharmaceuticals by 1.8% in the first quarter. Capital International Investors now owns 3,651,217 shares of the biopharmaceutical company’s stock worth $545,674,000 after buying an additional 64,560 shares during the period. Finally, Capital Research Global Investors lifted its stake in shares of Alnylam Pharmaceuticals by 7.3% during 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. 92.97% of the stock is currently owned by 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.