Stifel Nicolaus Raises Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $295.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective lifted by equities researchers at Stifel Nicolaus from $215.00 to $295.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 21.40% from the stock’s previous close.

A number of other analysts also recently weighed in on ALNY. StockNews.com upgraded Alnylam Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. BMO Capital Markets restated an “outperform” rating and issued a $234.00 price target on shares of Alnylam Pharmaceuticals in a research note on Monday, June 24th. Canaccord Genuity Group restated a “buy” rating and issued a $283.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, June 21st. SVB Leerink lifted their price target on Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, Needham & Company LLC lifted their price target on Alnylam Pharmaceuticals from $200.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $247.09.

Alnylam Pharmaceuticals Stock Down 1.6 %

ALNY opened at $243.00 on Thursday. The firm has a market cap of $30.74 billion, a price-to-earnings ratio of -90.67 and a beta of 0.30. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $252.87. The business’s 50 day moving average is $159.86 and its two-hundred day moving average is $164.73.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.23. The company had revenue of $494.33 million during the quarter, compared to analyst estimates of $428.01 million. The company’s revenue for the quarter was up 54.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.40) EPS. Equities analysts expect that Alnylam Pharmaceuticals will post -3.75 EPS for the current fiscal year.

Insider Activity

In other news, CFO Jeffrey V. Poulton sold 1,605 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $231.00, for a total transaction of $370,755.00. Following the completion of the transaction, the chief financial officer now directly owns 28,892 shares of the company’s stock, valued at $6,674,052. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Amy W. Schulman sold 21,700 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $148.60, for a total transaction of $3,224,620.00. Following the completion of the transaction, the director now directly owns 8,436 shares in the company, valued at $1,253,589.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jeffrey V. Poulton sold 1,605 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $231.00, for a total value of $370,755.00. Following the transaction, the chief financial officer now owns 28,892 shares of the company’s stock, valued at $6,674,052. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,357 shares of company stock valued at $13,436,711. 1.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its position 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 buying an additional 143 shares during the period. Quent Capital LLC boosted its position in shares of Alnylam Pharmaceuticals by 246.0% during the fourth quarter. Quent Capital LLC now owns 173 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 123 shares during the period. Anchor Investment Management LLC acquired a new position in shares of Alnylam Pharmaceuticals during the fourth quarter worth approximately $38,000. Altitude Crest Partners Inc. acquired a new stake in Alnylam Pharmaceuticals in the first quarter worth approximately $30,000. Finally, GAMMA Investing LLC acquired a new stake in Alnylam Pharmaceuticals in the fourth quarter worth approximately $52,000. 92.97% of the stock is currently owned by institutional investors and hedge funds.

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.