TD Cowen Boosts Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $371.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target raised by stock analysts at TD Cowen from $282.00 to $371.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s target price would suggest a potential upside of 25.37% from the company’s previous close.

Other analysts also recently issued research reports about the company. Morgan Stanley lifted their target price on Alnylam Pharmaceuticals from $250.00 to $255.00 and gave the company an “equal weight” rating in a research note on Friday, July 12th. Needham & Company LLC reiterated a “buy” rating and set a $320.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Thursday, October 10th. Raymond James upped their target price on shares of Alnylam Pharmaceuticals from $242.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Stifel Nicolaus raised their target price on shares of Alnylam Pharmaceuticals from $215.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $234.00 price target on shares of Alnylam Pharmaceuticals in a research note on Monday, June 24th. Six equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $290.86.

Alnylam Pharmaceuticals Price Performance

ALNY opened at $295.93 on Monday. The company has a 50 day simple moving average of $271.82 and a two-hundred day simple moving average of $217.52. The firm has a market cap of $37.43 billion, a P/E ratio of -110.42 and a beta of 0.39. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share 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 the consensus estimate of $447.22 million. The company’s quarterly revenue was up 107.0% on a year-over-year basis. During the same period in the prior year, the company posted ($2.21) EPS. Equities analysts anticipate that Alnylam Pharmaceuticals will post -2.73 earnings per share for the current year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,148 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $270.00, for a total value of $4,089,960.00. Following the completion of the sale, the chief executive officer now owns 73,441 shares of the company’s stock, valued at $19,829,070. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Yvonne Greenstreet sold 15,148 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $270.00, for a total value of $4,089,960.00. Following the sale, the chief executive officer now directly owns 73,441 shares in the company, valued at approximately $19,829,070. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dennis A. Ausiello sold 20,250 shares of the firm’s 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 sale, the director now directly owns 136 shares of the company’s stock, valued at $35,632. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,398 shares of company stock worth $13,595,460. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC bought a new position in Alnylam Pharmaceuticals in the 2nd quarter worth about $26,000. Allspring Global Investments Holdings LLC raised its stake 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 valued at $25,000 after acquiring an additional 143 shares in the last quarter. Friedenthal Financial purchased a new stake in shares of Alnylam Pharmaceuticals in the third quarter valued at approximately $51,000. Altitude Crest Partners Inc. bought a new position in Alnylam Pharmaceuticals in the first quarter worth approximately $30,000. Finally, Meeder Asset Management Inc. increased its holdings in Alnylam Pharmaceuticals by 1,237.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 321 shares of the biopharmaceutical company’s stock worth $78,000 after purchasing an additional 297 shares during the period. Hedge funds and other 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.