Alnylam Pharmaceuticals (NASDAQ:ALNY) Hits New 12-Month High After Earnings Beat

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) shares hit a new 52-week high on Friday after the company announced better than expected quarterly earnings. The company traded as high as $274.93 and last traded at $273.02, with a volume of 922148 shares trading hands. The stock had previously closed at $268.61.

The biopharmaceutical company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.74) by $0.61. The company had revenue of $659.83 million during the quarter, compared to analysts’ expectations of $447.22 million. The company’s revenue for the quarter was up 107.0% on a year-over-year basis. During the same quarter last year, the company earned ($2.21) earnings per share.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays boosted their price objective on Alnylam Pharmaceuticals from $291.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday. StockNews.com raised shares of Alnylam Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. Citigroup lifted their target price on Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada boosted their price target on shares of Alnylam Pharmaceuticals from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 25th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $234.00 price objective on shares of Alnylam Pharmaceuticals in a report on Monday, June 24th. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Alnylam Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $262.82.

Insider Transactions at Alnylam Pharmaceuticals

In other news, Director Amy W. Schulman sold 21,700 shares of the firm’s 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 sale, the director now directly owns 8,436 shares in the company, valued at approximately $1,253,589.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Amy W. Schulman sold 21,700 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $148.60, for a total transaction of $3,224,620.00. Following the completion of the sale, the director now owns 8,436 shares in the company, valued at approximately $1,253,589.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total value of $276,726.02. Following the completion of the sale, the executive vice president now directly owns 14,181 shares of the company’s stock, valued at approximately $3,275,669.19. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,450 shares of company stock valued at $15,287,984. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Several large investors have recently made changes to their positions in ALNY. Allspring Global Investments Holdings LLC lifted its holdings in shares of Alnylam Pharmaceuticals by 572.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 143 shares during the period. Altitude Crest Partners Inc. acquired a new position in Alnylam Pharmaceuticals in the first quarter valued at approximately $30,000. Robeco Institutional Asset Management B.V. boosted its position in Alnylam Pharmaceuticals by 155.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 20,549 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 12,513 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Alnylam Pharmaceuticals in the 4th quarter worth approximately $52,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter worth approximately $52,000. 92.97% of the stock is owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Trading Up 1.3 %

The firm’s fifty day moving average price is $204.12 and its two-hundred day moving average price is $173.44. The stock has a market capitalization of $34.41 billion, a PE ratio of -102.16 and a beta of 0.37.

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.