Alnylam Pharmaceuticals (NASDAQ:ALNY) Sets New 52-Week High Following Analyst Upgrade

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)’s stock price hit a new 52-week high during mid-day trading on Tuesday after BMO Capital Markets raised their price target on the stock from $300.00 to $360.00. BMO Capital Markets currently has an outperform rating on the stock. Alnylam Pharmaceuticals traded as high as $319.28 and last traded at $317.00, with a volume of 236503 shares. The stock had previously closed at $313.13.

Several other brokerages also recently commented on ALNY. Canaccord Genuity Group upped their price target on Alnylam Pharmaceuticals from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Friday, March 21st. Redburn Atlantic began coverage on Alnylam Pharmaceuticals in a report on Monday, March 31st. They issued a “buy” rating and a $353.00 target price on the stock. Morgan Stanley lowered their price target on shares of Alnylam Pharmaceuticals from $284.00 to $268.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. William Blair restated an “outperform” rating on shares of Alnylam Pharmaceuticals in a research report on Friday, March 21st. Finally, Wall Street Zen cut shares of Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $335.32.

Insider Transactions at Alnylam Pharmaceuticals

In other news, CEO Yvonne Greenstreet sold 19,297 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $14,978,088. The trade was a 28.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Truist Financial Corp boosted its holdings in shares of Alnylam Pharmaceuticals by 136.6% in the 4th quarter. Truist Financial Corp now owns 4,398 shares of the biopharmaceutical company’s stock worth $1,035,000 after buying an additional 2,539 shares during the last quarter. IFP Advisors Inc boosted its stake in Alnylam Pharmaceuticals by 24.2% in the fourth quarter. IFP Advisors Inc now owns 241 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 47 shares during the last quarter. Brighton Jones LLC purchased a new position in Alnylam Pharmaceuticals in the fourth quarter valued at about $243,000. Silvercrest Asset Management Group LLC bought a new position in shares of Alnylam Pharmaceuticals during the 4th quarter valued at approximately $1,151,000. Finally, Blue Trust Inc. increased its stake in shares of Alnylam Pharmaceuticals by 33.9% during the 1st quarter. Blue Trust Inc. now owns 1,158 shares of the biopharmaceutical company’s stock worth $313,000 after purchasing an additional 293 shares during the last quarter. Institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Stock Performance

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 company has a market cap of $41.98 billion, a PE ratio of -154.04 and a beta of 0.22. The company’s 50 day moving average price is $282.80 and its 200-day moving average price is $262.36.

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

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.