Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $345.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target raised by Stifel Nicolaus from $300.00 to $345.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 28.51% from the company’s previous close.

Several other brokerages also recently issued reports on ALNY. 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday, March 21st. Citigroup increased their target price on Alnylam Pharmaceuticals from $338.00 to $351.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Canaccord Genuity Group lifted their price target on Alnylam Pharmaceuticals from $385.00 to $390.00 and gave the company a “buy” rating in a report on Friday, March 21st. Finally, StockNews.com lowered shares of Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $314.48.

Alnylam Pharmaceuticals Stock Performance

Alnylam Pharmaceuticals stock opened at $268.46 on Monday. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $304.39. The company has a market capitalization of $34.92 billion, a price-to-earnings ratio of -123.71 and a beta of 0.39. The stock has a fifty day moving average of $259.86 and a two-hundred day moving average of $260.52. The company has a debt-to-equity ratio of 15.27, a quick ratio of 2.71 and a current ratio of 2.78.

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

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, EVP Kevin Joseph Fitzgerald sold 1,440 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $251.56, for a total value of $362,246.40. Following the transaction, the executive vice president now owns 12,881 shares in the company, valued at $3,240,344.36. The trade was a 10.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Phillip A. Sharp sold 11,250 shares of the firm’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 disclosure for this sale can be found here. Insiders sold a total of 71,234 shares of company stock worth $19,958,097 in the last 90 days. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Regeneron Pharmaceuticals Inc. bought a new position in Alnylam Pharmaceuticals during the 4th quarter valued at $1,045,822,000. Norges Bank acquired a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter valued at about $577,941,000. Capital Research Global Investors lifted its position in shares of Alnylam Pharmaceuticals by 32.9% during the fourth quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company’s stock worth $1,639,767,000 after purchasing an additional 1,724,610 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Alnylam Pharmaceuticals by 39.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company’s stock worth $1,031,705,000 after purchasing an additional 1,245,195 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in Alnylam Pharmaceuticals by 496.6% in the fourth quarter. Marshall Wace LLP now owns 378,649 shares of the biopharmaceutical company’s stock valued at $89,100,000 after buying an additional 315,182 shares during the last quarter. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

About Alnylam Pharmaceuticals

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.