Raymond James Issues Positive Forecast for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective boosted by analysts at Raymond James from $275.00 to $298.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Raymond James’ target price suggests a potential upside of 8.79% from the company’s previous close.

A number of other equities analysts have also weighed in on ALNY. JPMorgan Chase & Co. upped their price objective on Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Scotiabank upped their price target on Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the stock a “sector outperform” rating in a research note on Friday. The Goldman Sachs Group raised shares of Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price objective for the company from $198.00 to $370.00 in a report on Friday, August 16th. Canaccord Genuity Group upped their target price on shares of Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Morgan Stanley raised their target price on shares of Alnylam Pharmaceuticals from $250.00 to $255.00 and gave the company an “equal weight” rating in a research note on Friday, July 12th. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $294.50.

Alnylam Pharmaceuticals Trading Up 2.7 %

NASDAQ ALNY opened at $273.91 on Friday. The stock has a market cap of $35.16 billion, a price-to-earnings ratio of -104.55 and a beta of 0.39. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $304.39. The company’s 50 day moving average is $274.61 and its two-hundred day moving average is $225.87.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.61. The firm had revenue of $659.83 million for the quarter, compared to analysts’ expectations of $447.22 million. The firm’s quarterly revenue was up 107.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($2.21) EPS. Sell-side analysts forecast that Alnylam Pharmaceuticals will post -2.59 EPS for the current year.

Insider Activity

In related news, Director Dennis A. Ausiello sold 20,250 shares of Alnylam Pharmaceuticals stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $262.00, for a total transaction of $5,305,500.00. Following the completion of the transaction, the director now directly owns 136 shares of the company’s stock, valued at approximately $35,632. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Dennis A. Ausiello sold 20,250 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total value of $5,305,500.00. Following the sale, the director now directly owns 136 shares in the company, valued at approximately $35,632. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Yvonne Greenstreet sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total value of $4,200,000.00. Following the transaction, the chief executive officer now owns 73,441 shares of the company’s stock, valued at approximately $20,563,480. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its position in Alnylam Pharmaceuticals by 572.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 143 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Alnylam Pharmaceuticals during the second quarter valued at approximately $26,000. Hollencrest Capital Management purchased a new stake in shares of Alnylam Pharmaceuticals in the third quarter valued at approximately $29,000. Altitude Crest Partners Inc. purchased a new position in Alnylam Pharmaceuticals during the 1st quarter worth $30,000. Finally, Washington Trust Advisors Inc. purchased a new position in Alnylam Pharmaceuticals during the 3rd quarter worth $42,000. Hedge funds and other institutional investors own 92.97% of the company’s stock.

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.