Alnylam Pharmaceuticals (NASDAQ:ALNY) Sees Strong Trading Volume After Analyst Upgrade

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) shares saw an uptick in trading volume on Tuesday after Citigroup raised their price target on the stock from $227.00 to $291.00. Citigroup currently has a buy rating on the stock. 515,214 shares traded hands during trading, a decline of 35% from the previous session’s volume of 791,441 shares.The stock last traded at $229.61 and had previously closed at $222.90.

Several other research firms also recently issued reports on ALNY. Royal Bank of Canada boosted their price objective on shares of Alnylam Pharmaceuticals from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday. SVB Leerink upped 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. Barclays upped their price target on shares of Alnylam Pharmaceuticals from $236.00 to $291.00 and gave the stock an “overweight” rating in a research report on Tuesday. Evercore ISI upped their price target on shares of Alnylam Pharmaceuticals from $210.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, TD Cowen increased their target price on shares of Alnylam Pharmaceuticals from $260.00 to $282.00 and gave the company a “buy” rating in a research report on Tuesday. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Alnylam Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $242.52.

Insider Transactions at Alnylam Pharmaceuticals

In other 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 value of $3,224,620.00. Following the completion of the sale, the director now directly owns 8,436 shares of the company’s stock, valued at $1,253,589.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by insiders.

Institutional Trading of Alnylam Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in Alnylam Pharmaceuticals in the fourth quarter worth approximately $390,438,000. Capital International Investors increased its holdings in Alnylam Pharmaceuticals by 15.8% in the fourth quarter. Capital International Investors now owns 3,586,657 shares of the biopharmaceutical company’s stock worth $686,641,000 after buying an additional 488,814 shares during the last quarter. Wellington Management Group LLP increased its holdings in Alnylam Pharmaceuticals by 6.0% in the third quarter. Wellington Management Group LLP now owns 6,431,814 shares of the biopharmaceutical company’s stock worth $1,139,074,000 after buying an additional 364,021 shares during the last quarter. Vanguard Group Inc. increased its holdings in Alnylam Pharmaceuticals by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock worth $2,286,181,000 after buying an additional 287,064 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in Alnylam Pharmaceuticals by 7.3% in the first quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock worth $470,018,000 after buying an additional 214,908 shares during the last quarter. 92.97% of the stock is owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Price Performance

The business has a fifty day moving average of $153.86 and a 200 day moving average of $163.08. The stock has a market cap of $30.38 billion, a price-to-earnings ratio of -89.61 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) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.23. The company had revenue of $494.33 million for the quarter, compared to analyst estimates of $428.01 million. During the same quarter last year, the business earned ($1.40) EPS. The company’s revenue for the quarter was up 54.8% on a year-over-year basis. On average, analysts expect that Alnylam Pharmaceuticals, Inc. will post -3.74 EPS for the current year.

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.