Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $307.00 Price Target at Bank of America

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its target price raised by analysts at Bank of America from $295.00 to $307.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the biopharmaceutical company's stock. Bank of America's price objective would suggest a potential upside of 21.28% from the company's current price.

Other equities research analysts have also issued reports about the stock. UBS Group boosted their price objective on shares of Alnylam Pharmaceuticals from $253.00 to $288.00 and gave the stock a "buy" rating in a research report on Friday, June 28th. Canaccord Genuity Group raised their price objective on shares of Alnylam Pharmaceuticals from $357.00 to $366.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. TD Cowen upped their target price on Alnylam Pharmaceuticals from $260.00 to $282.00 and gave the company a "buy" rating in a research note on Tuesday, June 25th. Leerink Partners raised their price target on Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the stock a "market perform" rating in a research report on Tuesday, June 25th. Finally, The Goldman Sachs Group raised Alnylam Pharmaceuticals from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $198.00 to $370.00 in a report on Friday, August 16th. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $279.14.

Alnylam Pharmaceuticals Stock Performance

ALNY traded down $0.64 on Wednesday, hitting $253.14. 1,008,458 shares of the company were exchanged, compared to its average volume of 906,652. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $287.55. The firm has a market capitalization of $32.02 billion, a P/E ratio of -94.46 and a beta of 0.37. The business's fifty day moving average is $257.19 and its 200 day moving average is $189.87.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.74) by $0.61. The firm had revenue of $659.83 million during the quarter, compared to analyst estimates of $447.22 million. The business's revenue was up 107.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.21) EPS. Analysts forecast that Alnylam Pharmaceuticals will post -2.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director David E. I. Pyott sold 32,450 shares of Alnylam Pharmaceuticals stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $220.69, for a total value of $7,161,390.50. Following the transaction, the director now directly owns 136 shares of the company's stock, valued at approximately $30,013.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 8,301 shares of the firm's stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total value of $1,917,447.99. Following the transaction, the chief executive officer now directly owns 80,534 shares of the company's stock, valued at $18,602,548.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David E. I. Pyott sold 32,450 shares of the business's stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $220.69, for a total value of $7,161,390.50. Following the transaction, the director now owns 136 shares in the company, valued at approximately $30,013.84. The disclosure for this sale can be found here. Insiders sold 103,148 shares of company stock worth $25,658,824 over the last three months. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds have recently modified their holdings of ALNY. Ashton Thomas Private Wealth LLC acquired a new stake in Alnylam Pharmaceuticals in the second quarter valued at approximately $26,000. Allspring Global Investments Holdings LLC grew its holdings in Alnylam Pharmaceuticals by 572.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company's stock valued at $25,000 after purchasing an additional 143 shares in the last quarter. Altitude Crest Partners Inc. purchased a new stake in Alnylam Pharmaceuticals during the 1st quarter worth $30,000. V Square Quantitative Management LLC acquired a new position in Alnylam Pharmaceuticals in the 4th quarter worth $52,000. Finally, Meeder Asset Management Inc. lifted its holdings in Alnylam Pharmaceuticals by 1,237.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 321 shares of the biopharmaceutical company's stock worth $78,000 after buying an additional 297 shares in the last quarter. 92.97% of the stock is currently owned by hedge funds and other 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.