Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Increased to $291.00 by Analysts at Barclays

Alnylam Pharmaceuticals (NASDAQ:ALNYGet Free Report) had its price target raised by investment analysts at Barclays from $236.00 to $291.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Barclays‘s price objective points to a potential upside of 24.19% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $283.00 target price on shares of Alnylam Pharmaceuticals in a research note on Friday. Morgan Stanley raised their target price on Alnylam Pharmaceuticals from $164.00 to $250.00 and gave the company an “equal weight” rating in a research note on Tuesday. BMO Capital Markets reaffirmed an “outperform” rating and set a $234.00 target price on shares of Alnylam Pharmaceuticals in a research note on Monday. Needham & Company LLC raised their target price on Alnylam Pharmaceuticals from $200.00 to $275.00 and gave the company a “buy” rating in a research note on Monday. Finally, Wells Fargo & Company raised their target price on Alnylam Pharmaceuticals from $161.00 to $207.00 and gave the company an “equal weight” rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $238.50.

View Our Latest Stock Analysis on Alnylam Pharmaceuticals

Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ:ALNY traded up $11.41 on Tuesday, hitting $234.31. The company’s stock had a trading volume of 1,326,494 shares, compared to its average volume of 798,995. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $235.97. The company has a market capitalization of $29.64 billion, a price-to-earnings ratio of -87.43 and a beta of 0.30. The stock’s 50-day moving average is $151.99 and its two-hundred day moving average is $162.59.

Alnylam Pharmaceuticals (NASDAQ:ALNYGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.23. The business had revenue of $494.33 million during the quarter, compared to the consensus estimate of $428.01 million. During the same period in the previous year, the company posted ($1.40) EPS. The company’s revenue for the quarter was up 54.8% compared to the same quarter last year. Equities analysts expect that Alnylam Pharmaceuticals will post -3.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Amy W. Schulman sold 21,700 shares of the stock in a transaction dated Wednesday, May 29th. The stock was 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 approximately $1,253,589.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds have recently bought and sold shares of ALNY. Norges Bank purchased a new stake in Alnylam Pharmaceuticals in the 4th quarter worth about $390,438,000. Capital International Investors lifted its stake in Alnylam Pharmaceuticals by 15.8% in the 4th quarter. Capital International Investors now owns 3,586,657 shares of the biopharmaceutical company’s stock worth $686,641,000 after acquiring an additional 488,814 shares in the last quarter. Wellington Management Group LLP lifted its stake in Alnylam Pharmaceuticals by 6.0% in the 3rd quarter. Wellington Management Group LLP now owns 6,431,814 shares of the biopharmaceutical company’s stock worth $1,139,074,000 after acquiring an additional 364,021 shares in the last quarter. Vanguard Group Inc. lifted its stake in Alnylam Pharmaceuticals by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock worth $2,286,181,000 after acquiring an additional 287,064 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in shares of Alnylam Pharmaceuticals by 7.3% during the 1st quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock worth $470,018,000 after purchasing an additional 214,908 shares in the last quarter. 92.97% of the stock is owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Company Profile

(Get Free Report)

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.

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