Wells Fargo & Company Boosts Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $207.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective lifted by Wells Fargo & Company from $161.00 to $207.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an equal weight rating on the biopharmaceutical company’s stock.

Several other brokerages have also issued reports on ALNY. Canaccord Genuity Group reissued a buy rating and issued a $283.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, June 21st. StockNews.com raised shares of Alnylam Pharmaceuticals from a hold rating to a buy rating in a report on Monday, April 29th. BMO Capital Markets reissued an outperform rating and issued a $234.00 price target on shares of Alnylam Pharmaceuticals in a report on Monday. Chardan Capital reissued a buy rating and issued a $225.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, May 3rd. Finally, HC Wainwright reissued a buy rating and issued a $400.00 price target on shares of Alnylam Pharmaceuticals in a report on Monday. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $245.14.

Alnylam Pharmaceuticals Trading Up 0.7 %

Shares of ALNY stock opened at $247.00 on Tuesday. Alnylam Pharmaceuticals has a 1 year low of $141.98 and a 1 year high of $252.87. The firm’s fifty day simple moving average is $157.89 and its 200 day simple moving average is $164.23. The firm has a market capitalization of $31.24 billion, a P/E ratio of -92.16 and a beta of 0.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, topping 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 company’s revenue was up 54.8% compared to the same quarter last year. During the same period last year, the firm posted ($1.40) EPS. Equities research analysts anticipate that Alnylam Pharmaceuticals will post -3.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Amy W. Schulman sold 21,700 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $148.60, for a total transaction of $3,224,620.00. Following the transaction, the director now owns 8,436 shares in the company, valued at approximately $1,253,589.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Amy W. Schulman sold 21,700 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $148.60, for a total transaction of $3,224,620.00. Following the transaction, the director now owns 8,436 shares in the company, valued at approximately $1,253,589.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David E. I. Pyott sold 32,450 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $220.69, for a total transaction of $7,161,390.50. Following the transaction, the director now owns 136 shares in the company, valued at $30,013.84. The disclosure for this sale can be found here. Insiders have sold a total of 67,357 shares of company stock worth $13,436,711 in the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALNY. Envestnet Portfolio Solutions Inc. acquired a new position in Alnylam Pharmaceuticals during the 3rd quarter valued at about $227,000. Envestnet Asset Management Inc. lifted its position in Alnylam Pharmaceuticals by 30.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 24,570 shares of the biopharmaceutical company’s stock valued at $4,351,000 after purchasing an additional 5,727 shares during the period. Hsbc Holdings PLC lifted its position in Alnylam Pharmaceuticals by 14.7% during the 3rd quarter. Hsbc Holdings PLC now owns 35,185 shares of the biopharmaceutical company’s stock valued at $6,230,000 after purchasing an additional 4,508 shares during the period. Acadian Asset Management LLC lifted its position in Alnylam Pharmaceuticals by 52.4% during the 3rd quarter. Acadian Asset Management LLC now owns 904 shares of the biopharmaceutical company’s stock valued at $160,000 after purchasing an additional 311 shares during the period. Finally, Northern Trust Corp lifted its position in Alnylam Pharmaceuticals by 3.3% during the 3rd quarter. Northern Trust Corp now owns 797,700 shares of the biopharmaceutical company’s stock valued at $141,273,000 after purchasing an additional 25,230 shares during the period. 92.97% of the stock is currently owned by institutional investors and hedge funds.

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.