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

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.

Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC reiterated a “buy” rating and set a $320.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday. Wells Fargo & Company increased their target price on shares of Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the stock an “equal weight” rating in a research report on Friday. StockNews.com cut shares of Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Alnylam Pharmaceuticals from $272.00 to $280.00 and gave the company a “neutral” rating in a research report on Tuesday, March 11th. Finally, Bank of America raised their price objective on shares of Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the company a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.22.

Alnylam Pharmaceuticals Price Performance

NASDAQ:ALNY opened at $283.34 on Friday. The company has a 50-day moving average of $257.16 and a 200-day moving average of $259.65. The company has a market capitalization of $36.68 billion, a price-to-earnings ratio of -130.57 and a beta of 0.39. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $304.39. 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 announced its earnings results 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). As a group, equities research analysts anticipate that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kevin Joseph Fitzgerald sold 663 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $255.21, for a total transaction of $169,204.23. Following the transaction, the executive vice president now owns 14,321 shares of the company’s stock, valued at $3,654,862.41. This trade represents a 4.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Yvonne Greenstreet sold 1,213 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $255.17, for a total transaction of $309,521.21. Following the transaction, the chief executive officer now directly owns 81,526 shares in the company, valued at $20,802,989.42. The trade was a 1.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,234 shares of company stock valued at $19,958,097 in the last 90 days. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. OneDigital Investment Advisors LLC bought a new position in Alnylam Pharmaceuticals in the third quarter valued at approximately $281,000. Natixis Advisors LLC bought a new position in Alnylam Pharmaceuticals in the third quarter valued at approximately $2,751,000. Mutual of America Capital Management LLC lifted its stake in Alnylam Pharmaceuticals by 26.7% in the third quarter. Mutual of America Capital Management LLC now owns 1,924 shares of the biopharmaceutical company’s stock valued at $529,000 after buying an additional 405 shares in the last quarter. Pathstone Holdings LLC lifted its stake in Alnylam Pharmaceuticals by 11.2% in the third quarter. Pathstone Holdings LLC now owns 6,249 shares of the biopharmaceutical company’s stock valued at $1,719,000 after buying an additional 629 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Alnylam Pharmaceuticals in the third quarter valued at approximately $902,000. Institutional investors own 92.97% of the company’s stock.

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.