Raymond James Raises Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $275.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective increased by Raymond James from $242.00 to $275.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an outperform rating on the biopharmaceutical company’s stock.

Several other brokerages have also recently weighed in on ALNY. Barclays upped their price target on shares of Alnylam Pharmaceuticals from $291.00 to $295.00 and gave the stock an overweight rating in a research report on Friday. Stifel Nicolaus upped their price target on shares of Alnylam Pharmaceuticals from $215.00 to $295.00 and gave the stock a buy rating in a research report on Thursday, June 27th. Chardan Capital reaffirmed a buy rating and issued a $225.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday, May 3rd. Morgan Stanley upped their price target on shares of Alnylam Pharmaceuticals from $250.00 to $255.00 and gave the stock an equal weight rating in a research report on Friday, July 12th. Finally, UBS Group upped their price target on shares of Alnylam Pharmaceuticals from $253.00 to $288.00 and gave the stock a buy rating in a research report on Friday, June 28th. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $269.32.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY stock opened at $272.05 on Friday. The company’s 50-day simple moving average is $208.99 and its two-hundred day simple moving average is $174.65. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $274.93.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.61. The company had revenue of $659.83 million during the quarter, compared to the consensus estimate of $447.22 million. Alnylam Pharmaceuticals’s revenue was up 107.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.21) earnings per share. On average, analysts anticipate that Alnylam Pharmaceuticals will post -3.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Yvonne Greenstreet sold 15,148 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $270.00, for a total value of $4,089,960.00. Following the sale, the chief executive officer now owns 73,441 shares in the company, valued at $19,829,070. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CMO Pushkal Garg sold 2,103 shares of the stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $230.99, for a total value of $485,771.97. Following the sale, the chief marketing officer now owns 15,609 shares in the company, valued at $3,605,522.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Yvonne Greenstreet sold 15,148 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $270.00, for a total transaction of $4,089,960.00. Following the completion of the sale, the chief executive officer now owns 73,441 shares in the company, valued at approximately $19,829,070. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,598 shares of company stock valued at $19,377,944. Insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TD Asset Management Inc grew its position in Alnylam Pharmaceuticals by 6.0% during the second quarter. TD Asset Management Inc now owns 489,940 shares of the biopharmaceutical company’s stock valued at $119,055,000 after buying an additional 27,592 shares during the period. JGP Global Gestao de Recursos Ltda. acquired a new stake in Alnylam Pharmaceuticals during the second quarter valued at $300,000. CIBC Asset Management Inc grew its position in Alnylam Pharmaceuticals by 5.6% during the second quarter. CIBC Asset Management Inc now owns 4,249 shares of the biopharmaceutical company’s stock valued at $1,033,000 after buying an additional 227 shares during the period. GraniteShares Advisors LLC grew its position in Alnylam Pharmaceuticals by 21.8% during the second quarter. GraniteShares Advisors LLC now owns 3,870 shares of the biopharmaceutical company’s stock valued at $940,000 after buying an additional 693 shares during the period. Finally, Van ECK Associates Corp grew its position in Alnylam Pharmaceuticals by 5.2% during the second quarter. Van ECK Associates Corp now owns 60,938 shares of the biopharmaceutical company’s stock valued at $14,808,000 after buying an additional 3,015 shares during the period. Institutional investors and hedge funds own 92.97% of the company’s stock.

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.