TD Cowen Boosts Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $282.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price increased by TD Cowen from $260.00 to $282.00 in a report published on Tuesday, Benzinga reports. TD Cowen currently has a buy rating on the biopharmaceutical company’s stock.

ALNY has been the subject of several other research reports. 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. Chardan Capital reissued a buy rating and issued a $225.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday, May 3rd. SVB Leerink upped their target price on shares of Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the company a market perform rating in a report on Tuesday. Morgan Stanley boosted their price target on shares of Alnylam Pharmaceuticals from $164.00 to $250.00 and gave the stock an equal weight rating in a research note on Tuesday. Finally, HC Wainwright reiterated a buy rating and set a $400.00 price target on shares of Alnylam Pharmaceuticals in a research note on Monday. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $245.14.

Alnylam Pharmaceuticals Price Performance

ALNY opened at $247.00 on Tuesday. The company’s 50 day simple moving average is $157.89 and its two-hundred day simple moving average is $164.23. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $252.87. The firm has a market capitalization of $31.24 billion, a price-to-earnings ratio of -92.16 and a beta of 0.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.23. The firm had revenue of $494.33 million for the quarter, compared to analyst estimates of $428.01 million. The firm’s quarterly revenue was up 54.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.40) EPS. On average, equities analysts anticipate that Alnylam Pharmaceuticals will post -3.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, Director Amy W. Schulman sold 21,700 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $148.60, for a total value of $3,224,620.00. Following the sale, the director now owns 8,436 shares of the company’s stock, valued at $1,253,589.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Amy W. Schulman sold 21,700 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $148.60, for a total transaction of $3,224,620.00. Following the transaction, the director now owns 8,436 shares of the company’s stock, valued at $1,253,589.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David E. I. Pyott sold 32,450 shares of the company’s 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 transaction, the director now directly owns 136 shares in the company, valued at approximately $30,013.84. The disclosure for this sale can be found here. Insiders have sold 67,357 shares of company stock valued at $13,436,711 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of ALNY. Allspring Global Investments Holdings LLC lifted 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 buying an additional 143 shares during the period. Altitude Crest Partners Inc. purchased a new position in shares of Alnylam Pharmaceuticals during the first quarter valued at approximately $30,000. Quent Capital LLC lifted its stake 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 valued at $33,000 after buying an additional 123 shares during the period. Anchor Investment Management LLC purchased a new position in shares of Alnylam Pharmaceuticals during the fourth quarter valued at approximately $38,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in Alnylam Pharmaceuticals by 155.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 20,549 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 12,513 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.