Alnylam Pharmaceuticals (NASDAQ:ALNY) PT Raised to $400.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target increased by research analysts at HC Wainwright from $395.00 to $400.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 162.66% from the company’s previous close.

A number of other research firms have also commented on ALNY. Wolfe Research began coverage on Alnylam Pharmaceuticals in a research note on Thursday, February 15th. They issued a “peer perform” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $235.00 price target on shares of Alnylam Pharmaceuticals in a report on Tuesday, February 20th. Morgan Stanley lowered their price objective on shares of Alnylam Pharmaceuticals from $184.00 to $176.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 13th. Cantor Fitzgerald reiterated a “neutral” rating and set a $165.00 target price on shares of Alnylam Pharmaceuticals in a research note on Tuesday, February 20th. Finally, StockNews.com upgraded shares of Alnylam Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned 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 $216.19.

Alnylam Pharmaceuticals Stock Performance

ALNY opened at $152.29 on Tuesday. The firm has a market cap of $19.26 billion, a P/E ratio of -56.82 and a beta of 0.41. The business has a 50 day moving average price of $149.35 and a 200 day moving average price of $164.93. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $218.88.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.23. The firm had revenue of $494.33 million for the quarter, compared to the consensus estimate of $428.01 million. Alnylam Pharmaceuticals’s quarterly revenue was up 54.8% on a year-over-year basis. During the same period in the prior year, the company posted ($1.40) earnings per share. As a group, analysts anticipate that Alnylam Pharmaceuticals will post -4.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC lifted its holdings in Alnylam Pharmaceuticals by 10.1% during the 1st quarter. ProShare Advisors LLC now owns 8,827 shares of the biopharmaceutical company’s stock valued at $1,319,000 after purchasing an additional 809 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Alnylam Pharmaceuticals in the first quarter valued at approximately $471,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Alnylam Pharmaceuticals in the 1st quarter worth approximately $13,162,000. Forsta AP Fonden grew its position in Alnylam Pharmaceuticals by 199.6% during the 1st quarter. Forsta AP Fonden now owns 68,300 shares of the biopharmaceutical company’s stock worth $10,207,000 after acquiring an additional 45,500 shares during the last quarter. Finally, Illinois Municipal Retirement Fund acquired a new stake in Alnylam Pharmaceuticals during the 1st quarter valued at $3,942,000. Institutional investors and hedge funds 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.