Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $377.00 at Needham & Company LLC

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective boosted by investment analysts at Needham & Company LLC from $320.00 to $377.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 17.10% from the company’s previous close.

A number of other research analysts also recently issued reports on ALNY. UBS Group boosted their target price on shares of Alnylam Pharmaceuticals from $331.00 to $349.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. BMO Capital Markets boosted their price objective on Alnylam Pharmaceuticals from $300.00 to $360.00 and gave the company an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. raised their target price on Alnylam Pharmaceuticals from $330.00 to $338.00 and gave the stock an “overweight” rating in a report on Thursday, June 12th. HC Wainwright reissued a “buy” rating and issued a $500.00 price target on shares of Alnylam Pharmaceuticals in a report on Wednesday, April 2nd. Finally, Morgan Stanley lowered their price objective on Alnylam Pharmaceuticals from $284.00 to $268.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $337.91.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY opened at $321.94 on Thursday. The company has a debt-to-equity ratio of 8.88, a quick ratio of 2.98 and a current ratio of 3.04. The stock has a 50-day moving average of $282.80 and a two-hundred day moving average of $262.36. The stock has a market cap of $41.98 billion, a P/E ratio of -154.04 and a beta of 0.22. Alnylam Pharmaceuticals has a one year low of $205.87 and a one year high of $326.03.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.07). Alnylam Pharmaceuticals had a negative net margin of 11.49% and a negative return on equity of 510.31%. The firm had revenue of $594.19 million during the quarter, compared to analysts’ expectations of $584.32 million. During the same quarter in the prior year, the company earned ($0.16) EPS. Alnylam Pharmaceuticals’s quarterly revenue was up 20.2% on a year-over-year basis. As a group, research analysts predict that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Yvonne Greenstreet sold 19,297 shares of the company’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $306.00, for a total value of $5,904,882.00. Following the transaction, the chief executive officer now owns 48,948 shares of the company’s stock, valued at $14,978,088. This represents a 28.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Alnylam Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in ALNY. Larson Financial Group LLC raised its position in shares of Alnylam Pharmaceuticals by 187.2% during the 4th quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 73 shares in the last quarter. SVB Wealth LLC acquired a new stake in Alnylam Pharmaceuticals during the first quarter worth approximately $27,000. Park Square Financial Group LLC acquired a new stake in Alnylam Pharmaceuticals during the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC lifted its position in shares of Alnylam Pharmaceuticals by 208.8% during the 1st quarter. Whipplewood Advisors LLC now owns 105 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 71 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Alnylam Pharmaceuticals by 176.9% in the 1st quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 69 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.