Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $320.00 at Needham & Company LLC

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target lifted by research analysts at Needham & Company LLC from $275.00 to $320.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Needham & Company LLC’s target price indicates a potential upside of 19.13% from the stock’s current price.

Several other equities analysts have also recently weighed in on ALNY. JPMorgan Chase & Co. boosted their price objective on Alnylam Pharmaceuticals from $160.00 to $248.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 3rd. HC Wainwright reiterated a “buy” rating and set a $400.00 price target on shares of Alnylam Pharmaceuticals in a report on Monday, June 24th. Cantor Fitzgerald increased their price objective on Alnylam Pharmaceuticals from $150.00 to $220.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Royal Bank of Canada boosted their target price on shares of Alnylam Pharmaceuticals from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 25th. Finally, SVB Leerink increased their price target on shares of Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the company a “market perform” rating in a report on Tuesday, June 25th. Eight equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $259.18.

Alnylam Pharmaceuticals Stock Up 13.1 %

NASDAQ:ALNY opened at $268.61 on Friday. The company’s 50 day moving average is $204.12 and its 200-day moving average is $173.44. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $271.01. The firm has a market cap of $33.98 billion, a price-to-earnings ratio of -100.23 and a beta of 0.37.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.23. The firm had revenue of $494.33 million during the quarter, compared to the consensus estimate of $428.01 million. During the same quarter last year, the business earned ($1.40) EPS. The business’s revenue was up 54.8% compared to the same quarter last year. Research analysts predict that Alnylam Pharmaceuticals will post -3.99 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $230.99, for a total value of $276,726.02. Following the transaction, the executive vice president now directly owns 14,181 shares in the company, valued at $3,275,669.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Yvonne Greenstreet sold 8,301 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 80,534 shares of the company’s stock, valued at approximately $18,602,548.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $230.99, for a total transaction of $276,726.02. Following the completion of the transaction, the executive vice president now directly owns 14,181 shares of the company’s stock, valued at approximately $3,275,669.19. The disclosure for this sale can be found here. In the last three months, insiders sold 74,450 shares of company stock valued at $15,287,984. 1.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC increased its holdings in shares of Alnylam Pharmaceuticals by 21.9% in the second quarter. V Square Quantitative Management LLC now owns 334 shares of the biopharmaceutical company’s stock worth $81,000 after acquiring an additional 60 shares in the last quarter. Commerce Bank boosted its position in Alnylam Pharmaceuticals by 1.7% during the 4th quarter. Commerce Bank now owns 4,683 shares of the biopharmaceutical company’s stock worth $896,000 after acquiring an additional 77 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Alnylam Pharmaceuticals by 7.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,368 shares of the biopharmaceutical company’s stock worth $262,000 after acquiring an additional 89 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Alnylam Pharmaceuticals by 54.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 259 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 91 shares during the last quarter. Finally, Metis Global Partners LLC raised its holdings in shares of Alnylam Pharmaceuticals by 2.2% in the fourth quarter. Metis Global Partners LLC now owns 4,382 shares of the biopharmaceutical company’s stock valued at $839,000 after purchasing an additional 94 shares during the last quarter. 92.97% of the stock is currently owned by institutional investors.

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.