Canaccord Genuity Group Raises Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $390.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target hoisted by Canaccord Genuity Group from $385.00 to $390.00 in a research report released on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the biopharmaceutical company’s stock.

A number of other analysts also recently issued reports on ALNY. Royal Bank of Canada lifted their price objective on shares of Alnylam Pharmaceuticals from $310.00 to $330.00 and gave the company an “outperform” rating in a report on Friday. HC Wainwright boosted their target price on shares of Alnylam Pharmaceuticals from $400.00 to $500.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Wells Fargo & Company boosted their target price on shares of Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the stock an “equal weight” rating in a report on Friday. Chardan Capital restated a “buy” rating and set a $300.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday. Finally, Bank of America boosted their target price on shares of Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the stock a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.22.

Alnylam Pharmaceuticals Price Performance

NASDAQ ALNY opened at $283.34 on Friday. The company has a quick ratio of 2.71, a current ratio of 2.78 and a debt-to-equity ratio of 15.27. Alnylam Pharmaceuticals has a 12-month low of $141.98 and a 12-month high of $304.39. The company has a market capitalization of $36.68 billion, a PE ratio of -130.57 and a beta of 0.39. The firm’s 50 day moving average is $257.16 and its 200-day moving average is $259.65.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). Equities research analysts anticipate that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Phillip A. Sharp sold 11,250 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $275.00, for a total value of $3,093,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Yvonne Greenstreet sold 1,213 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $255.17, for a total transaction of $309,521.21. Following the completion of the sale, the chief executive officer now directly owns 81,526 shares of the company’s stock, valued at approximately $20,802,989.42. The trade was a 1.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,234 shares of company stock valued at $19,958,097. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC lifted its position in Alnylam Pharmaceuticals by 187.2% during the fourth quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 73 shares during the period. Park Square Financial Group LLC bought a new stake in Alnylam Pharmaceuticals during the fourth quarter worth about $28,000. R Squared Ltd bought a new stake in Alnylam Pharmaceuticals during the fourth quarter worth about $33,000. Colonial Trust Co SC bought a new stake in Alnylam Pharmaceuticals during the fourth quarter worth about $35,000. Finally, True Wealth Design LLC lifted its position in Alnylam Pharmaceuticals by 15,300.0% during the third quarter. True Wealth Design LLC now owns 154 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 153 shares during the period. Institutional investors 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.