Alnylam Pharmaceuticals (NASDAQ:ALNY) Sees Unusually-High Trading Volume on Analyst Upgrade

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNYGet Free Report) shares saw strong trading volume on Tuesday after Wells Fargo & Company raised their price target on the stock from $161.00 to $207.00. Wells Fargo & Company currently has an equal weight rating on the stock. 515,214 shares changed hands during mid-day trading, a decline of 35% from the previous session’s volume of 791,441 shares.The stock last traded at $229.61 and had previously closed at $222.90.

ALNY has been the topic of a number of other research reports. BMO Capital Markets restated an “outperform” rating and set a $234.00 target price on shares of Alnylam Pharmaceuticals in a research report on Monday. Needham & Company LLC increased their price target on Alnylam Pharmaceuticals from $200.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday. StockNews.com raised Alnylam Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, April 29th. William Blair reiterated an “outperform” rating on shares of Alnylam Pharmaceuticals in a research report on Monday, April 8th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $283.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $231.59.

View Our Latest Research Report on ALNY

Insider Activity at Alnylam Pharmaceuticals

In related news, Director Amy W. Schulman sold 21,700 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $148.60, for a total value of $3,224,620.00. Following the completion of the transaction, the director now owns 8,436 shares of the company’s stock, valued at approximately $1,253,589.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. grew its holdings in Alnylam Pharmaceuticals by 1.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 2,938 shares of the biopharmaceutical company’s stock worth $562,000 after acquiring an additional 51 shares during the period. EP Wealth Advisors LLC boosted its position in shares of Alnylam Pharmaceuticals by 6.4% during the 3rd quarter. EP Wealth Advisors LLC now owns 1,177 shares of the biopharmaceutical company’s stock valued at $208,000 after purchasing an additional 71 shares in the last quarter. Commerce Bank grew its stake in Alnylam Pharmaceuticals by 1.7% during the fourth quarter. Commerce Bank now owns 4,683 shares of the biopharmaceutical company’s stock worth $896,000 after purchasing an additional 77 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in Alnylam Pharmaceuticals by 7.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,368 shares of the biopharmaceutical company’s stock worth $262,000 after purchasing an additional 89 shares in the last quarter. Finally, Metis Global Partners LLC lifted its stake in Alnylam Pharmaceuticals by 2.2% in the fourth quarter. Metis Global Partners LLC now owns 4,382 shares of the biopharmaceutical company’s stock valued at $839,000 after buying an additional 94 shares during the period. Institutional investors and hedge funds own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Stock Performance

The stock has a market capitalization of $29.04 billion, a P/E ratio of -85.68 and a beta of 0.30. The business has a fifty day simple moving average of $151.99 and a 200-day simple moving average of $162.59.

Alnylam Pharmaceuticals (NASDAQ:ALNYGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.23. The company had revenue of $494.33 million during the quarter, compared to the consensus estimate of $428.01 million. The company’s revenue for the quarter was up 54.8% on a year-over-year basis. During the same period last year, the firm posted ($1.40) earnings per share. On average, sell-side analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -3.74 earnings per share for the current year.

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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