Alnylam Pharmaceuticals (NASDAQ:ALNY) Shares Up 4% on Analyst Upgrade

Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) traded up 4% during trading on Monday after UBS Group raised their price target on the stock from $331.00 to $349.00. UBS Group currently has a buy rating on the stock. Alnylam Pharmaceuticals traded as high as $271.09 and last traded at $269.86. 287,770 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 884,542 shares. The stock had previously closed at $259.39.

Several other brokerages have also weighed in on ALNY. Bank of America increased their price objective on shares of Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the company a “buy” rating in a report on Friday, March 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 target price on shares of Alnylam Pharmaceuticals in a research note on Wednesday, April 9th. Redburn Atlantic initiated coverage on Alnylam Pharmaceuticals in a research report on Monday, March 31st. They set a “buy” rating and a $353.00 price target on the stock. StockNews.com cut Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Finally, Royal Bank of Canada lifted their price target on shares of Alnylam Pharmaceuticals from $310.00 to $330.00 and gave the company an “outperform” rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $319.17.

Insider Activity

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 1,213 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $255.17, for a total transaction of $309,521.21. Following the completion of the sale, the chief executive officer now directly owns 81,526 shares in the company, valued at $20,802,989.42. This trade represents a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CMO Pushkal Garg sold 1,548 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $251.67, for a total value of $389,585.16. Following the sale, the chief marketing officer now owns 11,989 shares of the company’s stock, valued at approximately $3,017,271.63. This represents a 11.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,392 shares of company stock valued at $1,875,627 in the last quarter. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its stake in shares of Alnylam Pharmaceuticals by 187.2% in the fourth quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 73 shares in the last quarter. Park Square Financial Group LLC acquired a new position in Alnylam Pharmaceuticals in the 4th quarter valued at $28,000. Whipplewood Advisors LLC lifted its position in shares of Alnylam Pharmaceuticals by 208.8% during the 1st quarter. Whipplewood Advisors LLC now owns 105 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 71 shares during the period. Bessemer Group Inc. grew its holdings in shares of Alnylam Pharmaceuticals by 176.9% during the 1st quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 69 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of Alnylam Pharmaceuticals in the fourth quarter worth $33,000. Institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Stock Performance

The stock has a 50 day moving average of $248.81 and a 200 day moving average of $254.55. The company has a quick ratio of 2.71, a current ratio of 2.78 and a debt-to-equity ratio of 15.27. The firm has a market cap of $35.58 billion, a price-to-earnings ratio of -126.06 and a beta of 0.17.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.07). The business had revenue of $594.19 million during the quarter, compared to analysts’ expectations of $584.32 million. During the same period in the previous year, the firm earned ($0.16) EPS. Alnylam Pharmaceuticals’s revenue was up 20.2% on a year-over-year basis. As a group, analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

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.