Alnylam Pharmaceuticals (NASDAQ:ALNY) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) saw strong trading volume on Tuesday after Citigroup raised their price target on the stock from $227.00 to $291.00. Citigroup currently has a buy rating on the stock. 515,214 shares changed hands during trading, a decline of 35% from the previous session’s volume of 791,441 shares.The stock last traded at $229.61 and had previously closed at $222.90.

A number of other analysts have also commented on ALNY. Canaccord Genuity Group reaffirmed a “buy” rating and set a $283.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday, June 21st. William Blair reaffirmed an “outperform” rating on shares of Alnylam Pharmaceuticals in a research note on Monday, April 8th. Barclays upped their price objective on shares of Alnylam Pharmaceuticals from $236.00 to $291.00 and gave the company an “overweight” rating in a research note on Tuesday. StockNews.com raised shares of Alnylam Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $234.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Monday. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $242.52.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 8,301 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total transaction of $1,917,447.99. Following the transaction, the chief executive officer now owns 80,534 shares in the company, valued at $18,602,548.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Alnylam Pharmaceuticals news, CFO Jeffrey V. Poulton sold 1,605 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $231.00, for a total transaction of $370,755.00. Following the transaction, the chief financial officer now owns 28,892 shares in the company, valued at $6,674,052. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Yvonne Greenstreet sold 8,301 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $230.99, for a total value of $1,917,447.99. Following the transaction, the chief executive officer now owns 80,534 shares in the company, valued at approximately $18,602,548.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,357 shares of company stock valued at $13,436,711. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of ALNY. Norges Bank acquired a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter worth $390,438,000. Capital International Investors boosted its stake in Alnylam Pharmaceuticals by 15.8% during the fourth quarter. Capital International Investors now owns 3,586,657 shares of the biopharmaceutical company’s stock worth $686,641,000 after buying an additional 488,814 shares in the last quarter. Wellington Management Group LLP boosted its stake in Alnylam Pharmaceuticals by 6.0% during the third quarter. Wellington Management Group LLP now owns 6,431,814 shares of the biopharmaceutical company’s stock worth $1,139,074,000 after buying an additional 364,021 shares in the last quarter. Vanguard Group Inc. boosted its stake in Alnylam Pharmaceuticals by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock worth $2,286,181,000 after buying an additional 287,064 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in Alnylam Pharmaceuticals by 7.3% during the first quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock worth $470,018,000 after buying an additional 214,908 shares in the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Price Performance

The stock’s 50 day simple moving average is $155.86 and its two-hundred day simple moving average is $163.65. The stock has a market cap of $31.01 billion, a price-to-earnings ratio of -91.48 and a beta of 0.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.23. The company had revenue of $494.33 million for the quarter, compared to the consensus estimate of $428.01 million. The firm’s revenue was up 54.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.40) earnings per share. As a group, analysts predict that Alnylam Pharmaceuticals, Inc. will post -3.75 earnings per share for the current year.

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.