Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $295.00 Price Target at Bank of America

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price raised by Bank of America from $248.00 to $295.00 in a research note released on Tuesday, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other equities analysts also recently issued reports on the stock. StockNews.com upgraded shares of Alnylam Pharmaceuticals from a hold rating to a buy rating in a research note on Monday, April 29th. BMO Capital Markets reiterated an outperform rating and issued a $234.00 price target on shares of Alnylam Pharmaceuticals in a report on Monday, June 24th. Canaccord Genuity Group restated a buy rating and set a $283.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday, June 21st. TD Cowen lifted their target price on Alnylam Pharmaceuticals from $260.00 to $282.00 and gave the company a buy rating in a research note on Tuesday. Finally, Barclays increased their price target on shares of Alnylam Pharmaceuticals from $236.00 to $291.00 and gave the company an overweight rating in a research report on Tuesday. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $247.09.

Alnylam Pharmaceuticals Stock Down 1.6 %

Shares of NASDAQ ALNY opened at $243.00 on Tuesday. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $252.87. The firm has a market cap of $30.74 billion, a PE ratio of -90.67 and a beta of 0.30. The business has a fifty day simple moving average of $159.86 and a two-hundred day simple moving average of $164.73.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.23. The firm had revenue of $494.33 million for the quarter, compared to analysts’ expectations of $428.01 million. During the same quarter in the prior year, the business posted ($1.40) EPS. The business’s quarterly revenue was up 54.8% on a year-over-year basis. On average, research analysts expect that Alnylam Pharmaceuticals will post -3.75 earnings per share for the current year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CFO Jeffrey V. Poulton sold 1,605 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $231.00, for a total transaction of $370,755.00. Following the sale, the chief financial officer now directly owns 28,892 shares of the company’s stock, valued at approximately $6,674,052. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alnylam Pharmaceuticals news, CFO Jeffrey V. Poulton sold 1,605 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $231.00, for a total value of $370,755.00. Following the completion of the transaction, the chief financial officer now directly owns 28,892 shares of the company’s stock, valued at $6,674,052. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Pushkal Garg sold 2,103 shares of the firm’s 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 $485,771.97. Following the sale, the chief marketing officer now directly owns 15,609 shares in the company, valued at approximately $3,605,522.91. The disclosure for this sale can be found here. Insiders sold 67,357 shares of company stock worth $13,436,711 over the last three months. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds have recently modified their holdings of ALNY. Envestnet Portfolio Solutions Inc. acquired a new position in Alnylam Pharmaceuticals in the 3rd quarter valued at $227,000. Envestnet Asset Management Inc. lifted its stake in shares of Alnylam Pharmaceuticals by 30.4% in 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 last quarter. Hsbc Holdings PLC increased its position in shares of Alnylam Pharmaceuticals by 14.7% during the 3rd quarter. Hsbc Holdings PLC now owns 35,185 shares of the biopharmaceutical company’s stock worth $6,230,000 after purchasing an additional 4,508 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Alnylam Pharmaceuticals by 52.4% during the 3rd quarter. Acadian Asset Management LLC now owns 904 shares of the biopharmaceutical company’s stock worth $160,000 after purchasing an additional 311 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Alnylam Pharmaceuticals by 3.3% during the 3rd quarter. Northern Trust Corp now owns 797,700 shares of the biopharmaceutical company’s stock worth $141,273,000 after purchasing an additional 25,230 shares during the last quarter. 92.97% of the stock is owned by hedge funds and other institutional investors.

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.