Canaccord Genuity Group Issues Positive Forecast for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Alnylam Pharmaceuticals (NASDAQ:ALNY - Free Report) had its target price lifted by Canaccord Genuity Group from $384.00 to $385.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company's stock.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC restated a "buy" rating and issued a $320.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday, February 14th. Piper Sandler reaffirmed an "overweight" rating and issued a $296.00 target price on shares of Alnylam Pharmaceuticals in a research note on Monday, November 18th. Chardan Capital reaffirmed a "buy" rating and issued a $300.00 target price on shares of Alnylam Pharmaceuticals in a research note on Friday, November 1st. Raymond James upped their target price on Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Finally, Sanford C. Bernstein cut their target price on Alnylam Pharmaceuticals from $314.00 to $310.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $299.48.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY stock traded down $0.41 during trading on Tuesday, hitting $250.59. The company had a trading volume of 653,580 shares, compared to its average volume of 693,794. The company has a quick ratio of 2.71, a current ratio of 2.78 and a debt-to-equity ratio of 15.27. The stock's 50-day moving average is $254.14 and its two-hundred day moving average is $263.02. The stock has a market capitalization of $32.44 billion, a price-to-earnings ratio of -115.48 and a beta of 0.35. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.03). As a group, analysts predict that Alnylam Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In related news, CMO Pushkal Garg sold 1,682 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total transaction of $422,148.36. Following the completion of the transaction, the chief marketing officer now owns 17,457 shares in the company, valued at $4,381,357.86. This represents a 8.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kevin Joseph Fitzgerald sold 1,440 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $251.56, for a total value of $362,246.40. Following the transaction, the executive vice president now owns 12,881 shares of the company's stock, valued at approximately $3,240,344.36. This represents a 10.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 81,356 shares of company stock worth $22,498,551 over the last quarter. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Huntington National Bank raised its holdings in Alnylam Pharmaceuticals by 91.8% in the third quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 45 shares in the last quarter. Hollencrest Capital Management bought a new position in Alnylam Pharmaceuticals in the third quarter worth $29,000. Larson Financial Group LLC raised its holdings in Alnylam Pharmaceuticals by 187.2% in the fourth quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 73 shares in the last quarter. R Squared Ltd bought a new position in Alnylam Pharmaceuticals in the fourth quarter worth $33,000. Finally, Colonial Trust Co SC bought a new position in Alnylam Pharmaceuticals in the fourth quarter worth $35,000. 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.