Jefferies Financial Group Forecasts Strong Price Appreciation for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target upped by research analysts at Jefferies Financial Group from $230.00 to $260.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the biopharmaceutical company’s stock. Jefferies Financial Group’s price objective indicates a potential downside of 0.43% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Citigroup lowered their price target on Alnylam Pharmaceuticals from $380.00 to $340.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Needham & Company LLC cut their price objective on shares of Alnylam Pharmaceuticals from $510.00 to $357.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. JPMorgan Chase & Co. reduced their target price on Alnylam Pharmaceuticals from $400.00 to $375.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Wall Street Zen cut shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Finally, Wells Fargo & Company dropped their target price on shares of Alnylam Pharmaceuticals from $316.00 to $256.00 and set an “equal weight” rating for the company in a research report on Friday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $382.96.

Alnylam Pharmaceuticals Stock Performance

Alnylam Pharmaceuticals stock traded down $5.00 during midday trading on Tuesday, hitting $261.11. 659,265 shares of the company’s stock were exchanged, compared to its average volume of 1,452,661. Alnylam Pharmaceuticals has a 12-month low of $197.81 and a 12-month high of $495.55. The stock has a market cap of $34.94 billion, a price-to-earnings ratio of 48.31 and a beta of 0.31. The firm’s 50 day simple moving average is $258.70 and its 200 day simple moving average is $290.98. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.99 and a current ratio of 3.05.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.21. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. Alnylam Pharmaceuticals had a return on equity of 84.93% and a net margin of 15.26%.The company’s revenue for the quarter was up 66.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.51) earnings per share. Equities research analysts predict that Alnylam Pharmaceuticals will post 6.71 EPS for the current year.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Large investors have recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Alnylam Pharmaceuticals in the second quarter worth about $1,198,000. California State Teachers Retirement System lifted its position in shares of Alnylam Pharmaceuticals by 30,461.4% in the second quarter. California State Teachers Retirement System now owns 60,164,157 shares of the biopharmaceutical company’s stock worth $18,111,216,000 after purchasing an additional 59,967,294 shares in the last quarter. Wedmont Private Capital boosted its stake in shares of Alnylam Pharmaceuticals by 15.6% during the 2nd quarter. Wedmont Private Capital now owns 1,413 shares of the biopharmaceutical company’s stock valued at $422,000 after buying an additional 191 shares during the period. Saudi Central Bank boosted its position in Alnylam Pharmaceuticals by 90.4% during the second quarter. Saudi Central Bank now owns 9,284 shares of the biopharmaceutical company’s stock valued at $2,795,000 after purchasing an additional 4,408 shares during the last quarter. Finally, AlphaGrep UK Ltd acquired a new stake in shares of Alnylam Pharmaceuticals during the 2nd quarter valued at about $489,000. Institutional investors and hedge funds own 92.97% of the company’s stock.

About Alnylam Pharmaceuticals

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.