Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $429.00 at Canaccord Genuity Group

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target upped by analysts at Canaccord Genuity Group from $415.00 to $429.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s price objective points to a potential upside of 29.59% from the company’s current price.

Several other equities research analysts have also issued reports on the company. Wall Street Zen lowered Alnylam Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Wells Fargo & Company decreased their price objective on shares of Alnylam Pharmaceuticals from $479.00 to $376.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. Barclays initiated coverage on shares of Alnylam Pharmaceuticals in a research note on Wednesday, January 28th. They issued an “overweight” rating and a $527.00 target price on the stock. Truist Financial decreased their price target on shares of Alnylam Pharmaceuticals from $535.00 to $530.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $472.00 price target on shares of Alnylam Pharmaceuticals in a report on Monday, January 12th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $477.96.

Alnylam Pharmaceuticals Stock Performance

NASDAQ ALNY opened at $331.04 on Tuesday. The company has a fifty day moving average price of $372.67 and a 200-day moving average price of $424.73. The firm has a market cap of $43.90 billion, a price-to-earnings ratio of 192.47 and a beta of 0.35. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.76 and a quick ratio of 2.71. Alnylam Pharmaceuticals has a 1 year low of $205.87 and a 1 year high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, February 12th. The biopharmaceutical company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.61). The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Alnylam Pharmaceuticals had a return on equity of 69.02% and a net margin of 6.43%.The firm’s revenue for the quarter was up 84.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.65) earnings per share. As a group, equities research analysts predict that Alnylam Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In other news, CEO Yvonne Greenstreet sold 9,577 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $362.86, for a total value of $3,475,110.22. Following the completion of the transaction, the chief executive officer directly owned 78,411 shares in the company, valued at approximately $28,452,215.46. This trade represents a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tolga Tanguler sold 1,510 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $362.87, for a total transaction of $547,933.70. Following the sale, the executive vice president directly owned 29,728 shares in the company, valued at $10,787,399.36. This trade represents a 4.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,177 shares of company stock worth $6,975,746 in the last 90 days. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ALNY. Root Financial Partners LLC bought a new stake in Alnylam Pharmaceuticals during the third quarter valued at $25,000. Salomon & Ludwin LLC purchased a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at about $27,000. HM Payson & Co. bought a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter valued at about $27,000. Golden State Wealth Management LLC grew its holdings in shares of Alnylam Pharmaceuticals by 100.0% during the fourth quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 36 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Alnylam Pharmaceuticals in the third quarter worth approximately $29,000. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc (NASDAQ: ALNY) is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.