Alnylam Pharmaceuticals (NASDAQ:ALNY) Hits New 12-Month High - Here's Why

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as $317.45 and last traded at $316.77, with a volume of 236069 shares trading hands. The stock had previously closed at $308.71.

Wall Street Analyst Weigh In

A number of analysts have commented on ALNY shares. Royal Bank Of Canada lifted their target price on shares of Alnylam Pharmaceuticals from $310.00 to $330.00 and gave the stock an "outperform" rating in a report on Friday, March 21st. Wall Street Zen cut shares of Alnylam Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Saturday. Wells Fargo & Company upped their price objective on Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the stock an "equal weight" rating in a research report on Friday, March 21st. Chardan Capital increased their target price on shares of Alnylam Pharmaceuticals from $300.00 to $325.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, HC Wainwright reissued a "buy" rating and issued a $500.00 price objective on shares of Alnylam Pharmaceuticals in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $319.58.

Alnylam Pharmaceuticals Stock Performance

The firm's 50 day simple moving average is $273.09 and its 200-day simple moving average is $259.83. The company has a market cap of $40.82 billion, a price-to-earnings ratio of -149.70 and a beta of 0.22. The company has a debt-to-equity ratio of 8.88, a quick ratio of 2.98 and a current ratio of 3.04.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its quarterly earnings data 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). Alnylam Pharmaceuticals had a negative return on equity of 510.31% and a negative net margin of 11.49%. The business had revenue of $594.19 million during the quarter, compared to analysts' expectations of $584.32 million. During the same quarter in the previous year, the company posted ($0.16) earnings per share. The company's revenue was up 20.2% on a year-over-year basis. On average, sell-side analysts predict that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, CEO Yvonne Greenstreet sold 19,297 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $306.00, for a total value of $5,904,882.00. Following the completion of the sale, the chief executive officer now directly owns 48,948 shares of the company's stock, valued at approximately $14,978,088. This represents a 28.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.20% of the company's stock.

Institutional Trading of Alnylam Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Regeneron Pharmaceuticals Inc. acquired a new position in Alnylam Pharmaceuticals during the fourth quarter worth about $1,045,822,000. Norges Bank acquired a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter worth approximately $577,941,000. Capital Research Global Investors raised its holdings in Alnylam Pharmaceuticals by 32.9% during the fourth quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company's stock worth $1,639,767,000 after purchasing an additional 1,724,610 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Alnylam Pharmaceuticals by 39.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company's stock worth $1,031,705,000 after purchasing an additional 1,245,195 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Alnylam Pharmaceuticals by 2.5% in the first quarter. Vanguard Group Inc. now owns 13,056,605 shares of the biopharmaceutical company's stock valued at $3,525,544,000 after buying an additional 323,206 shares in the last quarter. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

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.

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