Canaccord Genuity Group Forecasts Strong Price Appreciation for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price hoisted by Canaccord Genuity Group from $366.00 to $384.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

A number of other analysts have also recently commented on ALNY. Wells Fargo & Company boosted their price target on Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. HC Wainwright reissued a “buy” rating and issued a $400.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday, October 18th. Morgan Stanley boosted their price target on Alnylam Pharmaceuticals from $250.00 to $255.00 and gave the stock an “equal weight” rating in a research report on Friday, July 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Thursday, October 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday. Six analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $294.50.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY traded up $7.32 during mid-day trading on Friday, reaching $273.91. The company had a trading volume of 866,294 shares, compared to its average volume of 871,240. The firm has a 50-day moving average price of $274.61 and a 200 day moving average price of $225.87. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $304.39. The company has a market capitalization of $35.16 billion, a price-to-earnings ratio of -104.55 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.61. The company had revenue of $659.83 million during the quarter, compared to the consensus estimate of $447.22 million. During the same period in the prior year, the firm earned ($2.21) earnings per share. The business’s revenue for the quarter was up 107.0% compared to the same quarter last year. As a group, research analysts forecast that Alnylam Pharmaceuticals will post -2.59 earnings per share for the current fiscal year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, Director Dennis A. Ausiello sold 20,250 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total value of $5,305,500.00. Following the completion of the sale, the director now directly owns 136 shares in the company, valued at $35,632. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Dennis A. Ausiello sold 20,250 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total value of $5,305,500.00. Following the completion of the sale, the director now directly owns 136 shares in the company, valued at $35,632. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Yvonne Greenstreet sold 15,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total value of $4,200,000.00. Following the completion of the sale, the chief executive officer now owns 73,441 shares of the company’s stock, valued at $20,563,480. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of institutional investors have recently bought and sold shares of ALNY. Allspring Global Investments Holdings LLC increased its stake in Alnylam Pharmaceuticals by 572.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 143 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Alnylam Pharmaceuticals during the second quarter valued at about $26,000. Hollencrest Capital Management purchased a new position in shares of Alnylam Pharmaceuticals during the third quarter valued at about $29,000. Altitude Crest Partners Inc. purchased a new position in shares of Alnylam Pharmaceuticals during the first quarter valued at about $30,000. Finally, Washington Trust Advisors Inc. purchased a new position in shares of Alnylam Pharmaceuticals during the third quarter valued at about $42,000. 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.