Citigroup Boosts Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $583.00

Key Points

• Citigroup raised its price target for Alnylam Pharmaceuticals from $527.00 to $583.00, indicating a potential upside of 30.06% from the current stock price, and maintains a "buy" rating on the company.
• Alnylam reported earnings of $0.32 per share, exceeding analysts' expectations and showing a 17.3% increase in revenue year-over-year, totaling $773.69 million for the quarter.
• Institutional ownership of Alnylam Pharmaceuticals is strong, with 92.97% of the stock currently held by institutional investors and hedge funds.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price target upped by analysts at Citigroup from $527.00 to $583.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the biopharmaceutical company's stock. Citigroup's target price would suggest a potential upside of 28.98% from the stock's current price.

A number of other equities analysts have also recently commented on ALNY. HC Wainwright boosted their price target on Alnylam Pharmaceuticals from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. BMO Capital Markets boosted their price target on Alnylam Pharmaceuticals from $300.00 to $360.00 and gave the stock an "outperform" rating in a report on Tuesday, June 24th. Truist Financial started coverage on Alnylam Pharmaceuticals in a report on Monday, July 21st. They set a "buy" rating and a $385.00 price target for the company. UBS Group boosted their price target on Alnylam Pharmaceuticals from $403.00 to $550.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Barclays boosted their price target on Alnylam Pharmaceuticals from $329.00 to $460.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Twenty-two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $417.38.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ:ALNY traded down $1.54 during trading on Tuesday, reaching $452.00. 751,495 shares of the company traded hands, compared to its average volume of 1,065,318. The company's 50 day moving average is $387.47 and its two-hundred day moving average is $309.30. The firm has a market capitalization of $59.25 billion, a PE ratio of -183.00 and a beta of 0.32. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 4.10. Alnylam Pharmaceuticals has a 52 week low of $205.87 and a 52 week high of $469.81.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its earnings results on Thursday, July 31st. The biopharmaceutical company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of ($0.54) by $0.86. The firm had revenue of $773.69 million during the quarter, compared to the consensus estimate of $633.54 million. Alnylam Pharmaceuticals had a negative return on equity of 273.52% and a negative net margin of 12.96%.The company's revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.13) EPS. Alnylam Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, Director Dennis A. Ausiello sold 31,448 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $436.58, for a total value of $13,729,567.84. Following the completion of the transaction, the director owned 911 shares of the company's stock, valued at $397,724.38. This represents a 97.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey V. Poulton sold 2,274 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $453.27, for a total value of $1,030,735.98. Following the completion of the transaction, the executive vice president directly owned 50,121 shares of the company's stock, valued at approximately $22,718,345.67. The trade was a 4.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,594 shares of company stock worth $25,551,456. Company insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. SVB Wealth LLC acquired a new stake in shares of Alnylam Pharmaceuticals in the first quarter valued at about $27,000. Park Square Financial Group LLC bought a new stake in Alnylam Pharmaceuticals in the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC increased its holdings in Alnylam Pharmaceuticals by 208.8% in the first quarter. Whipplewood Advisors LLC now owns 105 shares of the biopharmaceutical company's stock worth $28,000 after purchasing an additional 71 shares in the last quarter. Bessemer Group Inc. lifted its stake in Alnylam Pharmaceuticals by 176.9% in the first quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 69 shares during the period. Finally, Atlantic Union Bankshares Corp bought a new position in shares of Alnylam Pharmaceuticals during the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 92.97% of the company's stock.

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.