Alnylam Pharmaceuticals (NASDAQ:ALNY) Shares Gap Down to $287.01

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $287.01, but opened at $266.00. Alnylam Pharmaceuticals shares last traded at $269.68, with a volume of 783,566 shares changing hands.

Wall Street Analysts Forecast Growth

ALNY has been the subject of several recent research reports. HC Wainwright reaffirmed a "buy" rating and issued a $400.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday. Needham & Company LLC upped their price target on Alnylam Pharmaceuticals from $275.00 to $320.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Raymond James upped their price target on Alnylam Pharmaceuticals from $242.00 to $275.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Stifel Nicolaus upped their price target on Alnylam Pharmaceuticals from $215.00 to $295.00 and gave the company a "buy" rating in a report on Thursday, June 27th. Finally, Chardan Capital reiterated a "buy" rating and issued a $225.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday, May 3rd. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $278.59.

Alnylam Pharmaceuticals Stock Performance

The company's 50-day moving average price is $255.96 and its 200 day moving average price is $187.51. The stock has a market capitalization of $33.23 billion, a PE ratio of -98.02 and a beta of 0.37.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.61. The firm had revenue of $659.83 million during the quarter, compared to analysts' expectations of $447.22 million. The firm's quarterly revenue was up 107.0% on a year-over-year basis. During the same period last year, the firm posted ($2.21) earnings per share. Analysts expect that Alnylam Pharmaceuticals, Inc. will post -3.99 earnings per share for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, Director David E. I. Pyott sold 32,450 shares of the company's stock in a transaction on Monday, June 24th. The shares were sold at an average price of $220.69, for a total transaction of $7,161,390.50. Following the sale, the director now owns 136 shares of the company's stock, valued at $30,013.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 8,301 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $230.99, for a total transaction of $1,917,447.99. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through this link. Also, Director David E. I. Pyott sold 32,450 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $220.69, for a total transaction of $7,161,390.50. Following the completion of the transaction, the director now directly owns 136 shares of the company's stock, valued at $30,013.84. The disclosure for this sale can be found here. Insiders have sold 103,148 shares of company stock valued at $25,658,824 over the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of ALNY. Souders Financial Advisors grew its stake in Alnylam Pharmaceuticals by 1.0% in the 2nd quarter. Souders Financial Advisors now owns 3,512 shares of the biopharmaceutical company's stock valued at $853,000 after acquiring an additional 36 shares during the period. V Square Quantitative Management LLC raised its holdings in Alnylam Pharmaceuticals by 21.9% in the 2nd quarter. V Square Quantitative Management LLC now owns 334 shares of the biopharmaceutical company's stock valued at $81,000 after buying an additional 60 shares during the period. Commerce Bank grew its position in Alnylam Pharmaceuticals by 1.7% in the 4th quarter. Commerce Bank now owns 4,683 shares of the biopharmaceutical company's stock valued at $896,000 after acquiring an additional 77 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Alnylam Pharmaceuticals by 7.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,368 shares of the biopharmaceutical company's stock valued at $262,000 after acquiring an additional 89 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Alnylam Pharmaceuticals by 54.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 259 shares of the biopharmaceutical company's stock valued at $63,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds 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.