Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $390.00 at Canaccord Genuity Group

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its target price raised by analysts at Canaccord Genuity Group from $385.00 to $390.00 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the biopharmaceutical company's stock. Canaccord Genuity Group's price objective points to a potential upside of 37.59% from the stock's current price.

Several other analysts have also recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Alnylam Pharmaceuticals from $272.00 to $280.00 and gave the company a "neutral" rating in a report on Tuesday, March 11th. Wells Fargo & Company upped their price objective on shares of Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the stock an "equal weight" rating in a research report on Friday. StockNews.com lowered shares of Alnylam Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Friday. Needham & Company LLC reissued a "buy" rating and issued a $320.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday. Finally, Sanford C. Bernstein lowered their price objective on shares of Alnylam Pharmaceuticals from $314.00 to $310.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $312.30.

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Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ ALNY traded down $7.24 during mid-day trading on Friday, hitting $283.46. The company had a trading volume of 470,032 shares, compared to its average volume of 806,012. The company has a current ratio of 2.78, a quick ratio of 2.71 and a debt-to-equity ratio of 15.27. Alnylam Pharmaceuticals has a 1 year low of $141.98 and a 1 year high of $304.39. The company has a market capitalization of $36.70 billion, a price-to-earnings ratio of -131.03 and a beta of 0.39. The stock's 50-day moving average price is $257.81 and its 200-day moving average price is $260.02.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its 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). On average, sell-side analysts forecast that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Activity

In related news, CMO Pushkal Garg sold 52,592 shares of Alnylam Pharmaceuticals stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $285.00, for a total value of $14,988,720.00. Following the completion of the transaction, the chief marketing officer now owns 11,989 shares in the company, valued at approximately $3,416,865. This trade represents a 81.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Yvonne Greenstreet sold 1,213 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $255.17, for a total value of $309,521.21. Following the sale, the chief executive officer now owns 81,526 shares in the company, valued at approximately $20,802,989.42. This trade represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,234 shares of company stock worth $19,958,097 over the last 90 days. Corporate insiders own 1.50% of the company's stock.

Institutional Trading of Alnylam Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. OneDigital Investment Advisors LLC purchased a new position in Alnylam Pharmaceuticals during the 3rd quarter valued at $281,000. Natixis Advisors LLC bought a new position in shares of Alnylam Pharmaceuticals in the third quarter worth about $2,751,000. Mutual of America Capital Management LLC increased its stake in Alnylam Pharmaceuticals by 26.7% in the 3rd quarter. Mutual of America Capital Management LLC now owns 1,924 shares of the biopharmaceutical company's stock worth $529,000 after buying an additional 405 shares during the period. Pathstone Holdings LLC lifted its holdings in Alnylam Pharmaceuticals by 11.2% during the 3rd quarter. Pathstone Holdings LLC now owns 6,249 shares of the biopharmaceutical company's stock valued at $1,719,000 after buying an additional 629 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Alnylam Pharmaceuticals in the 3rd quarter valued at about $902,000. Hedge funds and other institutional investors own 92.97% of the company's stock.

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.