Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price Expected to Rise, Bank of America Analyst Says

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price target boosted by analysts at Bank of America from $302.00 to $325.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the biopharmaceutical company's stock. Bank of America's target price would indicate a potential upside of 11.05% from the company's previous close.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of Alnylam Pharmaceuticals from $272.00 to $280.00 and gave the company a "neutral" rating in a research note on Tuesday, March 11th. Needham & Company LLC reaffirmed a "buy" rating and issued a $320.00 target price on shares of Alnylam Pharmaceuticals in a research report on Wednesday, February 26th. Canaccord Genuity Group increased their price target on Alnylam Pharmaceuticals from $384.00 to $385.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Scotiabank lowered their price target on Alnylam Pharmaceuticals from $310.00 to $300.00 and set a "sector outperform" rating on the stock in a research report on Friday, February 14th. Finally, Chardan Capital reiterated a "buy" rating and set a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $312.30.

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Alnylam Pharmaceuticals Stock Up 3.3 %

Shares of ALNY stock traded up $9.33 on Friday, hitting $292.67. 1,073,493 shares of the stock were exchanged, compared to its average volume of 803,333. The company has a current ratio of 2.78, a quick ratio of 2.71 and a debt-to-equity ratio of 15.27. The firm has a market capitalization of $37.89 billion, a P/E ratio of -134.87 and a beta of 0.39. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $304.39. The business has a 50-day moving average of $257.16 and a 200 day moving average of $259.74.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing analysts' consensus estimates of ($0.62) by ($0.03). Equities analysts anticipate that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insider Activity

In other news, CMO Pushkal Garg sold 52,592 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $285.00, for a total value of $14,988,720.00. Following the sale, the chief marketing officer now directly owns 11,989 shares in the company, valued at approximately $3,416,865. This trade represents a 81.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Yvonne Greenstreet sold 1,213 shares of the business's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $255.17, for a total transaction of $309,521.21. Following the sale, the chief executive officer now directly owns 81,526 shares in the company, valued at approximately $20,802,989.42. The trade was a 1.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,234 shares of company stock worth $19,958,097. Corporate insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several large investors have recently bought and sold shares of the company. Jennison Associates LLC acquired a new stake in Alnylam Pharmaceuticals during the 4th quarter worth approximately $61,160,000. Strategic Financial Concepts LLC bought a new position in shares of Alnylam Pharmaceuticals during the fourth quarter valued at $41,529,000. Truist Financial Corp lifted its holdings in shares of Alnylam Pharmaceuticals by 136.6% during the fourth quarter. Truist Financial Corp now owns 4,398 shares of the biopharmaceutical company's stock worth $1,035,000 after purchasing an additional 2,539 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Alnylam Pharmaceuticals by 3.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 286,703 shares of the biopharmaceutical company's stock worth $67,464,000 after purchasing an additional 8,462 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Alnylam Pharmaceuticals by 13.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,918 shares of the biopharmaceutical company's stock valued at $4,687,000 after purchasing an additional 2,285 shares during the period. 92.97% of the stock is currently owned by institutional investors.

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.