Alnylam Pharmaceuticals (NASDAQ:ALNY) Shares Gap Up on Analyst Upgrade

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) gapped up prior to trading on Friday after Citigroup raised their price target on the stock from $338.00 to $351.00. The stock had previously closed at $253.55, but opened at $261.82. Citigroup currently has a buy rating on the stock. Alnylam Pharmaceuticals shares last traded at $274.34, with a volume of 692,627 shares changing hands.

ALNY has been the subject of a number of other reports. Canaccord Genuity Group boosted their target price on Alnylam Pharmaceuticals from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Friday. Morgan Stanley increased their price target on Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Royal Bank of Canada upped their price objective on Alnylam Pharmaceuticals from $310.00 to $330.00 and gave the company an “outperform” rating in a research note on Friday. William Blair restated an “outperform” rating on shares of Alnylam Pharmaceuticals in a research note on Friday. Finally, Wells Fargo & Company increased their target price on Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the stock an “equal weight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $310.22.

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, Director Phillip A. Sharp sold 11,250 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $275.00, for a total transaction of $3,093,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Pushkal Garg sold 52,592 shares of Alnylam Pharmaceuticals stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $285.00, for a total value of $14,988,720.00. Following the completion of the transaction, the chief marketing officer now directly owns 11,989 shares of the company’s stock, valued at approximately $3,416,865. This trade represents a 81.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,234 shares of company stock valued at $19,958,097. 1.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Larson Financial Group LLC increased its position in Alnylam Pharmaceuticals by 187.2% in the 4th quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 73 shares in the last quarter. Park Square Financial Group LLC bought a new position in shares of Alnylam Pharmaceuticals in the fourth quarter valued at approximately $28,000. R Squared Ltd bought a new position in Alnylam Pharmaceuticals during the fourth quarter valued at $33,000. OFI Invest Asset Management bought a new position in Alnylam Pharmaceuticals during the fourth quarter valued at $35,000. Finally, Colonial Trust Co SC bought a new position in Alnylam Pharmaceuticals during the fourth quarter valued at $35,000. 92.97% of the stock is owned by institutional investors.

Alnylam Pharmaceuticals Trading Up 11.8 %

The firm has a market capitalization of $36.68 billion, a P/E ratio of -130.57 and a beta of 0.39. The firm has a fifty day simple moving average of $257.16 and a two-hundred day simple moving average of $259.65. The company has a debt-to-equity ratio of 15.27, a current ratio of 2.78 and a quick ratio of 2.71.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.03). On average, equities research analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -1.7 earnings per share for the current fiscal year.

About Alnylam Pharmaceuticals

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.