Brokerages Set Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Target Price at $463.13

Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) have been assigned an average recommendation of “Moderate Buy” from the twenty-six analysts that are currently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $463.1326.

A number of research firms have recently weighed in on ALNY. Weiss Ratings upgraded Alnylam Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Citigroup began coverage on Alnylam Pharmaceuticals in a report on Tuesday, May 19th. They issued a “buy” rating and a $380.00 target price on the stock. Jefferies Financial Group restated a “hold” rating and issued a $330.00 target price (down from $522.00) on shares of Alnylam Pharmaceuticals in a report on Monday, March 16th. Truist Financial dropped their target price on Alnylam Pharmaceuticals from $515.00 to $505.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Finally, Royal Bank Of Canada decreased their price target on Alnylam Pharmaceuticals from $450.00 to $445.00 and set an “outperform” rating for the company in a research report on Friday, May 1st.

Insider Buying and Selling

In related news, insider Melissa Mclaughlin sold 2,286 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $330.42, for a total transaction of $755,340.12. Following the completion of the sale, the insider directly owned 9,443 shares of the company’s stock, valued at approximately $3,120,156.06. This trade represents a 19.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director David E. I. Pyott sold 3,830 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $299.18, for a total value of $1,145,859.40. Following the sale, the director directly owned 1,582 shares of the company’s stock, valued at $473,302.76. The trade was a 70.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,740 shares of company stock valued at $2,420,214 over the last ninety days. 0.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. iA Global Asset Management Inc. lifted its stake in Alnylam Pharmaceuticals by 979.5% during the fourth quarter. iA Global Asset Management Inc. now owns 17,780 shares of the biopharmaceutical company’s stock worth $7,070,000 after purchasing an additional 16,133 shares during the last quarter. Perpetual Ltd bought a new stake in Alnylam Pharmaceuticals during the fourth quarter worth about $2,004,000. Vanguard Group Inc. lifted its stake in Alnylam Pharmaceuticals by 2.0% during the third quarter. Vanguard Group Inc. now owns 13,565,452 shares of the biopharmaceutical company’s stock worth $6,185,846,000 after purchasing an additional 268,313 shares during the last quarter. Linden Advisors LP bought a new stake in Alnylam Pharmaceuticals during the third quarter worth about $6,550,000. Finally, WINTON GROUP Ltd lifted its stake in Alnylam Pharmaceuticals by 92.5% during the third quarter. WINTON GROUP Ltd now owns 6,800 shares of the biopharmaceutical company’s stock worth $3,101,000 after purchasing an additional 3,267 shares during the last quarter. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Stock Down 1.6%

ALNY stock opened at $278.09 on Friday. Alnylam Pharmaceuticals has a twelve month low of $273.11 and a twelve month high of $495.55. The company has a quick ratio of 3.06, a current ratio of 3.13 and a debt-to-equity ratio of 0.94. The stock’s 50 day moving average is $301.17 and its 200-day moving average is $338.53. The firm has a market capitalization of $37.13 billion, a PE ratio of 75.98 and a beta of 0.29.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $1.12. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the company earned ($0.44) earnings per share. The company’s revenue for the quarter was up 96.4% on a year-over-year basis. Sell-side analysts expect that Alnylam Pharmaceuticals will post 7.47 EPS for the current fiscal year.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc (NASDAQ: ALNY) is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.