Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price upped by Canaccord Genuity Group from $366.00 to $384.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s price target points to a potential upside of 44.04% from the company’s previous close.

Several other research firms also recently commented on ALNY. Raymond James upped their target price on Alnylam Pharmaceuticals from $242.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. The Goldman Sachs Group upgraded Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $198.00 to $370.00 in a research report on Friday, August 16th. Barclays raised their price target on shares of Alnylam Pharmaceuticals from $291.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. HC Wainwright reiterated a “buy” rating and issued a $400.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, October 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $300.00 target price on shares of Alnylam Pharmaceuticals in a report on Thursday, October 10th. Six analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, Alnylam Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $291.68.

Alnylam Pharmaceuticals Trading Down 5.3 %

Shares of NASDAQ ALNY opened at $266.59 on Friday. The stock has a 50 day moving average of $274.80 and a 200-day moving average of $224.70. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $304.39. The company has a market capitalization of $34.22 billion, a P/E ratio of -444.31 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.74) by $0.61. The company had revenue of $659.83 million for the quarter, compared to the consensus estimate of $447.22 million. The business’s quarterly revenue was up 107.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.21) EPS. Analysts predict that Alnylam Pharmaceuticals will post -2.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Dennis A. Ausiello sold 20,250 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total value of $5,305,500.00. Following the transaction, the director now directly 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 document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Yvonne Greenstreet sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total value of $4,200,000.00. Following the completion of the sale, the chief executive officer now directly owns 73,441 shares of the company’s stock, valued at $20,563,480. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dennis A. Ausiello sold 20,250 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total value of $5,305,500.00. Following the completion of the transaction, the director now owns 136 shares in the company, valued at approximately $35,632. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new position in Alnylam Pharmaceuticals during the second quarter worth $26,000. Allspring Global Investments Holdings LLC lifted its position in Alnylam Pharmaceuticals by 572.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 143 shares in the last quarter. Friedenthal Financial acquired a new position in Alnylam Pharmaceuticals during the 3rd quarter valued at about $51,000. Altitude Crest Partners Inc. bought a new stake in Alnylam Pharmaceuticals during the 1st quarter worth approximately $30,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Alnylam Pharmaceuticals by 95.4% in the third quarter. Farther Finance Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $58,000 after purchasing an additional 103 shares in the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

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.