Needham & Company LLC Boosts Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $275.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target hoisted by Needham & Company LLC from $200.00 to $275.00 in a research report report published on Monday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research firms have also commented on ALNY. BMO Capital Markets reaffirmed an outperform rating and issued a $234.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Monday. StockNews.com raised Alnylam Pharmaceuticals from a hold rating to a buy rating in a research note on Monday, April 29th. William Blair reissued an outperform rating on shares of Alnylam Pharmaceuticals in a research note on Monday, April 8th. Canaccord Genuity Group reissued a buy rating and issued a $283.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, June 21st. Finally, Chardan Capital reaffirmed a buy rating and set a $225.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday, May 3rd. Eight research analysts have rated the stock with a hold rating and sixteen have issued 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 $245.14.

Alnylam Pharmaceuticals Stock Performance

ALNY opened at $247.00 on Monday. The company has a market capitalization of $31.24 billion, a P/E ratio of -92.16 and a beta of 0.30. The stock has a fifty day moving average of $157.89 and a 200-day moving average of $164.23. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $252.87.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.23. The company had revenue of $494.33 million during the quarter, compared to analyst estimates of $428.01 million. Alnylam Pharmaceuticals’s revenue was up 54.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.40) earnings per share. On average, equities research analysts predict that Alnylam Pharmaceuticals will post -3.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 8,301 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total value of $1,917,447.99. Following the completion of the transaction, the chief executive officer now owns 80,534 shares in the company, valued at approximately $18,602,548.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CMO Pushkal Garg sold 2,103 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total transaction of $485,771.97. Following the completion of the transaction, the chief marketing officer now owns 15,609 shares in the company, valued at approximately $3,605,522.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Yvonne Greenstreet sold 8,301 shares of the stock in a transaction on Tuesday, June 25th. The stock was 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 of the company’s stock, valued at approximately $18,602,548.66. The disclosure for this sale can be found here. Insiders sold 67,357 shares of company stock worth $13,436,711 in the last quarter. 1.50% of the stock is currently owned by company insiders.

Institutional Trading of Alnylam Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its holdings in Alnylam Pharmaceuticals by 572.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 143 shares in the last quarter. Altitude Crest Partners Inc. bought a new stake in shares of Alnylam Pharmaceuticals during the 1st quarter valued at about $30,000. Quent Capital LLC boosted its position in shares of Alnylam Pharmaceuticals by 246.0% during the 4th quarter. Quent Capital LLC now owns 173 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 123 shares during the last quarter. Anchor Investment Management LLC bought a new stake in Alnylam Pharmaceuticals in the 4th quarter worth approximately $38,000. Finally, Robeco Institutional Asset Management B.V. lifted its position in Alnylam Pharmaceuticals by 155.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 20,549 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 12,513 shares during the last quarter. Hedge funds and other institutional investors own 92.97% of the company’s stock.

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.