Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price Up 3.8% on Analyst Upgrade

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) traded up 3.8% during trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $248.00 to $280.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Alnylam Pharmaceuticals traded as high as $282.54 and last traded at $279.47. 930,518 shares traded hands during mid-day trading, an increase of 6% from the average session volume of 879,740 shares. The stock had previously closed at $269.14.

A number of other equities research analysts have also commented on ALNY. The Goldman Sachs Group raised Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price target for the company from $198.00 to $370.00 in a research report on Friday, August 16th. Stifel Nicolaus raised their target price on Alnylam Pharmaceuticals from $215.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Wells Fargo & Company raised their target price on Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Canaccord Genuity Group raised their target price on Alnylam Pharmaceuticals from $357.00 to $366.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada raised their target price on Alnylam Pharmaceuticals from $265.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Alnylam Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $278.59.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, Director Amy W. Schulman sold 21,700 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $148.60, for a total value of $3,224,620.00. Following the completion of 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 the SEC website. In other news, Director Amy W. Schulman sold 21,700 shares of Alnylam Pharmaceuticals stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $148.60, for a total transaction of $3,224,620.00. Following the completion of the sale, 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 is accessible through this hyperlink. Also, Director David E. I. Pyott sold 32,450 shares of Alnylam Pharmaceuticals stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $220.69, for a total value of $7,161,390.50. Following the sale, the director now owns 136 shares of the company’s stock, valued at approximately $30,013.84. The disclosure for this sale can be found here. Insiders sold a total of 124,848 shares of company stock worth $28,883,444 in the last quarter. 1.50% of the stock is owned by company insiders.

Institutional Trading of Alnylam Pharmaceuticals

A number of large investors have recently modified their holdings of ALNY. Norges Bank purchased a new position in shares of Alnylam Pharmaceuticals during the 4th quarter valued at about $390,438,000. Capital International Investors raised its holdings in shares of Alnylam Pharmaceuticals by 15.8% during the 4th quarter. Capital International Investors now owns 3,586,657 shares of the biopharmaceutical company’s stock valued at $686,641,000 after buying an additional 488,814 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Alnylam Pharmaceuticals by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock valued at $2,286,181,000 after buying an additional 287,064 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Alnylam Pharmaceuticals by 7.3% during the 1st quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock valued at $470,018,000 after buying an additional 214,908 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Alnylam Pharmaceuticals by 5.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock valued at $550,837,000 after buying an additional 201,784 shares in the last quarter. Institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Trading Up 4.8 %

The company has a market capitalization of $35.68 billion, a PE ratio of -100.43 and a beta of 0.37. The stock has a fifty day moving average of $246.36 and a two-hundred day moving average of $184.72.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.61. The firm had revenue of $659.83 million for the quarter, compared to analysts’ expectations of $447.22 million. The business’s quarterly revenue was up 107.0% on a year-over-year basis. During the same period in the prior year, the business posted ($2.21) earnings per share. Equities analysts forecast that Alnylam Pharmaceuticals, Inc. will post -3.99 EPS 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.