Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Increased to $295.00 by Analysts at Bank of America

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective upped by Bank of America from $248.00 to $295.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also commented on the stock. BMO Capital Markets reiterated an outperform rating and issued a $234.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Monday. StockNews.com upgraded shares of Alnylam Pharmaceuticals from a hold rating to a buy rating in a research report on Monday, April 29th. Barclays boosted their price objective on shares of Alnylam Pharmaceuticals from $236.00 to $291.00 and gave the stock an overweight rating in a research report on Tuesday. TD Cowen upped their target price on shares of Alnylam Pharmaceuticals from $260.00 to $282.00 and gave the company a buy rating in a report on Tuesday. Finally, Chardan Capital restated a buy rating and issued a $225.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, May 3rd. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $242.52.

Alnylam Pharmaceuticals Stock Up 7.7 %

NASDAQ:ALNY opened at $240.15 on Tuesday. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $242.00. The stock has a market cap of $30.38 billion, a PE ratio of -89.61 and a beta of 0.30. The firm’s fifty day simple moving average is $153.86 and its 200-day simple moving average is $163.08.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data 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 business had revenue of $494.33 million during the quarter, compared to analysts’ expectations of $428.01 million. During the same quarter in the prior year, the firm earned ($1.40) earnings per share. Alnylam Pharmaceuticals’s quarterly revenue was up 54.8% on a year-over-year basis. Equities analysts anticipate that Alnylam Pharmaceuticals will post -3.74 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Amy W. Schulman sold 21,700 shares of the 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 completion of the sale, the director now owns 8,436 shares of the company’s stock, valued at approximately $1,253,589.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its position in Alnylam Pharmaceuticals by 572.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 143 shares in the last quarter. Altitude Crest Partners Inc. acquired a new stake in Alnylam Pharmaceuticals in the first quarter valued at approximately $30,000. Quent Capital LLC grew its position in Alnylam Pharmaceuticals by 246.0% in the fourth quarter. Quent Capital LLC now owns 173 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 123 shares in the last quarter. Anchor Investment Management LLC acquired a new stake in Alnylam Pharmaceuticals in the fourth quarter valued at approximately $38,000. Finally, Robeco Institutional Asset Management B.V. grew its position in Alnylam Pharmaceuticals by 155.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 20,549 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 12,513 shares in the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

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.