Bank of America Issues Positive Forecast for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price raised by Bank of America from $302.00 to $325.00 in a research report report published on Friday morning,Benzinga reports. Bank of America currently has a buy rating on the biopharmaceutical company’s stock.

Other equities analysts have also recently issued research reports about the company. StockNews.com cut Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday. Needham & Company LLC reiterated a “buy” rating and set a $320.00 target price on shares of Alnylam Pharmaceuticals in a report on Wednesday, February 26th. JPMorgan Chase & Co. increased their target price on Alnylam Pharmaceuticals from $272.00 to $280.00 and gave the stock a “neutral” rating in a report on Tuesday, March 11th. Canaccord Genuity Group increased their price objective on shares of Alnylam Pharmaceuticals from $384.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, William Blair restated an “outperform” rating on shares of Alnylam Pharmaceuticals in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $310.22.

Alnylam Pharmaceuticals Price Performance

ALNY stock opened at $283.34 on Friday. The stock has a 50-day moving average price of $257.16 and a two-hundred day moving average price of $259.65. The stock has a market cap of $36.68 billion, a PE ratio of -130.57 and a beta of 0.39. The company has a current ratio of 2.78, a quick ratio of 2.71 and a debt-to-equity ratio of 15.27. Alnylam Pharmaceuticals has a 1 year low of $141.98 and a 1 year high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released 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). Equities analysts forecast that Alnylam Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, Director Phillip A. Sharp sold 11,250 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $275.00, for a total transaction of $3,093,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Pushkal Garg sold 52,592 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $285.00, for a total transaction of $14,988,720.00. Following the sale, the chief marketing officer now owns 11,989 shares of the company’s stock, valued at $3,416,865. This trade represents a 81.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,234 shares of company stock worth $19,958,097. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. 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 increased 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 acquiring an additional 405 shares during the last quarter. Pathstone Holdings LLC increased 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 acquiring an additional 629 shares during 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. 92.97% of the stock is owned by 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.