Raymond James Forecasts Strong Price Appreciation for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock

Alnylam Pharmaceuticals (NASDAQ:ALNY - Free Report) had its price objective increased by Raymond James from $275.00 to $298.00 in a research report sent to investors on Friday, Benzinga reports. Raymond James currently has an outperform rating on the biopharmaceutical company's stock.

Other analysts have also issued reports about the company. The Goldman Sachs Group raised Alnylam Pharmaceuticals from a "neutral" rating to a "buy" rating and boosted their target price for the company from $198.00 to $370.00 in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their target price on Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the stock a "neutral" rating in a research report on Monday, August 26th. Canaccord Genuity Group increased their target price on Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the stock a "buy" rating in a report on Friday. Wells Fargo & Company upped their price objective on shares of Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the stock an "equal weight" rating in a report on Friday, August 2nd. Finally, Chardan Capital reiterated a "buy" rating and set a $300.00 price objective on shares of Alnylam Pharmaceuticals in a report on Friday. Six research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $294.50.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY stock traded up $7.32 during mid-day trading on Friday, hitting $273.91. The company's stock had a trading volume of 866,294 shares, compared to its average volume of 871,240. The company has a market cap of $35.16 billion, a PE ratio of -104.55 and a beta of 0.39. The company's fifty day simple moving average is $274.59 and its 200-day simple moving average is $224.99. 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 issued its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.61. The business had revenue of $659.83 million during the quarter, compared to analyst estimates of $447.22 million. Alnylam Pharmaceuticals's quarterly revenue was up 107.0% compared to the same quarter last year. During the same period last year, the firm posted ($2.21) earnings per share. On average, equities analysts anticipate that Alnylam Pharmaceuticals will post -2.59 earnings per share for the current year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, Director Dennis A. Ausiello sold 20,250 shares of the business's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $262.00, for a total transaction of $5,305,500.00. Following the sale, the director now owns 136 shares of the company's stock, valued at $35,632. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Dennis A. Ausiello sold 20,250 shares of the company's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total transaction of $5,305,500.00. Following the sale, the director now directly owns 136 shares in the company, valued at $35,632. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Yvonne Greenstreet sold 15,000 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total transaction of $4,200,000.00. Following the completion of the sale, the chief executive officer now directly owns 73,441 shares in the company, valued at approximately $20,563,480. The trade was 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 corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Alnylam Pharmaceuticals by 572.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 143 shares in the last quarter. Maryland State Retirement & Pension System grew its position in Alnylam Pharmaceuticals by 4.1% during the first quarter. Maryland State Retirement & Pension System now owns 9,836 shares of the biopharmaceutical company's stock valued at $1,441,000 after acquiring an additional 385 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Alnylam Pharmaceuticals by 32.3% during the first quarter. Commonwealth Equity Services LLC now owns 5,594 shares of the biopharmaceutical company's stock valued at $836,000 after acquiring an additional 1,365 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Alnylam Pharmaceuticals by 63.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 62,415 shares of the biopharmaceutical company's stock worth $9,328,000 after acquiring an additional 24,228 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Alnylam Pharmaceuticals by 47.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 2,775 shares of the biopharmaceutical company's stock worth $415,000 after acquiring an additional 892 shares during the last quarter. 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.