Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $366.00 Price Target at Canaccord Genuity Group

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price boosted by Canaccord Genuity Group from $357.00 to $366.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other research analysts also recently commented on ALNY. UBS Group raised their price objective on shares of Alnylam Pharmaceuticals from $253.00 to $288.00 and gave the stock a buy rating in a report on Friday, June 28th. Evercore ISI increased their target price on shares of Alnylam Pharmaceuticals from $210.00 to $260.00 and gave the stock an outperform rating in a research note on Tuesday, June 25th. Morgan Stanley increased their target price on shares of Alnylam Pharmaceuticals from $250.00 to $255.00 and gave the stock an equal weight rating in a research note on Friday, July 12th. HC Wainwright reiterated a buy rating and issued a $400.00 target price on shares of Alnylam Pharmaceuticals in a research note on Monday, June 24th. Finally, Stifel Nicolaus raised their price objective on shares of Alnylam Pharmaceuticals from $215.00 to $295.00 and gave the company a buy rating in a research report on Thursday, June 27th. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $269.32.

Alnylam Pharmaceuticals Price Performance

Alnylam Pharmaceuticals stock opened at $272.05 on Friday. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $274.93. The firm has a 50 day moving average price of $208.99 and a 200-day moving average price of $174.65.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data 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 business had revenue of $659.83 million during the quarter, compared to the consensus estimate of $447.22 million. The firm’s quarterly revenue was up 107.0% on a year-over-year basis. During the same period last year, the business posted ($2.21) earnings per share. On average, research analysts predict that Alnylam Pharmaceuticals will post -3.99 EPS for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In related news, Director Amy W. Schulman sold 21,700 shares of Alnylam Pharmaceuticals stock in a transaction dated 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 completion of the transaction, the director now directly owns 8,436 shares of the company’s stock, valued at approximately $1,253,589.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,148 shares of Alnylam Pharmaceuticals 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 transaction, the chief executive officer now directly owns 73,441 shares of the company’s stock, valued at $19,829,070. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amy W. Schulman sold 21,700 shares of Alnylam Pharmaceuticals stock in a transaction dated 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 of the company’s stock, valued at $1,253,589.60. The disclosure for this sale can be found here. Insiders sold a total of 89,598 shares of company stock valued at $19,377,944 in the last three months. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ALNY. Raymond James & Associates raised its holdings in shares of Alnylam Pharmaceuticals by 15.1% during the fourth quarter. Raymond James & Associates now owns 14,286 shares of the biopharmaceutical company’s stock valued at $2,734,000 after purchasing an additional 1,875 shares during the last quarter. Ballentine Partners LLC bought a new stake in Alnylam Pharmaceuticals during the fourth quarter valued at approximately $234,000. Arizona State Retirement System grew its position in Alnylam Pharmaceuticals by 1.1% during the fourth quarter. Arizona State Retirement System now owns 34,356 shares of the biopharmaceutical company’s stock valued at $6,576,000 after buying an additional 383 shares during the period. Quilter Plc bought a new stake in Alnylam Pharmaceuticals during the fourth quarter valued at approximately $255,000. Finally, Asset Management One Co. Ltd. boosted its position in shares of Alnylam Pharmaceuticals by 41.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 69,334 shares of the biopharmaceutical company’s stock worth $13,569,000 after purchasing an additional 20,268 shares during the period. 92.97% of the stock is owned by hedge funds and other 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.