Citigroup Forecasts Strong Price Appreciation for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective increased by equities researchers at Citigroup from $338.00 to $351.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Citigroup’s price objective indicates a potential upside of 25.26% from the stock’s previous close.

Several other research analysts also recently commented on ALNY. Chardan Capital reiterated a “buy” rating and issued a $300.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday. Royal Bank of Canada lifted their price objective on Alnylam Pharmaceuticals from $310.00 to $330.00 and gave the stock an “outperform” rating in a research note on Friday. Needham & Company LLC reissued a “buy” rating and set a $320.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday. Scotiabank boosted their price target on shares of Alnylam Pharmaceuticals from $300.00 to $338.00 and gave the stock a “sector outperform” rating in a research report on Friday. Finally, Morgan Stanley upped their price objective on shares of Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $310.22.

Alnylam Pharmaceuticals Trading Up 10.5 %

NASDAQ ALNY traded up $26.66 during trading hours on Friday, reaching $280.21. The company’s stock had a trading volume of 2,173,323 shares, compared to its average volume of 798,000. The firm has a fifty day simple moving average of $256.25 and a 200-day simple moving average of $259.51. The company has a debt-to-equity ratio of 15.27, a current ratio of 2.78 and a quick ratio of 2.71. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $304.39. The stock has a market cap of $36.27 billion, a P/E ratio of -129.38 and a beta of 0.39.

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

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, CFO Jeffrey V. Poulton sold 967 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 value of $246,749.39. Following the transaction, the chief financial officer now directly owns 32,786 shares in the company, valued at $8,366,003.62. The trade was a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Phillip A. Sharp sold 11,250 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $275.00, for a total transaction of $3,093,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,234 shares of company stock worth $19,958,097. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of Alnylam Pharmaceuticals

A number of institutional investors have recently modified their holdings of ALNY. Larson Financial Group LLC raised its holdings in Alnylam Pharmaceuticals by 187.2% during the 4th quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 73 shares during the period. Park Square Financial Group LLC bought a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter valued at $28,000. R Squared Ltd bought a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter valued at $33,000. OFI Invest Asset Management bought a new position in Alnylam Pharmaceuticals in the 4th quarter worth about $35,000. Finally, Colonial Trust Co SC purchased a new position in Alnylam Pharmaceuticals during the 4th quarter valued at about $35,000. 92.97% of the stock is currently owned by hedge funds and other 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.