Alnylam Pharmaceuticals (NASDAQ:ALNY) Sets New 12-Month High - Should You Buy?

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The stock 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.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ALNY. JPMorgan Chase & Co. boosted their price objective on Alnylam Pharmaceuticals from $330.00 to $338.00 and gave the company an "overweight" rating in a report on Thursday, June 12th. Stifel Nicolaus boosted their target price on shares of Alnylam Pharmaceuticals from $300.00 to $345.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Chardan Capital increased their price objective on shares of Alnylam Pharmaceuticals from $300.00 to $325.00 and gave the company a "buy" rating in a report on Friday, May 2nd. William Blair reaffirmed an "outperform" rating on shares of Alnylam Pharmaceuticals in a research report on Friday, March 21st. Finally, UBS Group increased their price objective on Alnylam Pharmaceuticals from $331.00 to $349.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, Alnylam Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $324.83.

Alnylam Pharmaceuticals Stock Performance

The firm has a market capitalization of $41.98 billion, a price-to-earnings ratio of -154.04 and a beta of 0.22. The company has a current ratio of 3.04, a quick ratio of 2.98 and a debt-to-equity ratio of 8.88. The stock's 50-day moving average is $280.97 and its 200-day moving average is $261.94.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $594.19 million for the quarter, compared to the consensus estimate of $584.32 million. During the same period in the previous year, the firm posted ($0.16) EPS. The business's quarterly revenue was up 20.2% compared to the same quarter last year. On average, analysts predict that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, CEO Yvonne Greenstreet sold 19,297 shares of the company'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 completion of the transaction, the chief executive officer now owns 48,948 shares of the company's stock, valued at $14,978,088. This represents a 28.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALNY. Swedbank AB increased its holdings in Alnylam Pharmaceuticals by 8.0% in the first quarter. Swedbank AB now owns 59,993 shares of the biopharmaceutical company's stock valued at $16,199,000 after purchasing an additional 4,461 shares during the period. Strs Ohio acquired a new stake in shares of Alnylam Pharmaceuticals in the first quarter valued at about $7,781,000. Geneos Wealth Management Inc. raised its position in shares of Alnylam Pharmaceuticals by 372.3% during the first quarter. Geneos Wealth Management Inc. now owns 222 shares of the biopharmaceutical company's stock worth $60,000 after acquiring an additional 175 shares during the last quarter. IFM Investors Pty Ltd raised its position in shares of Alnylam Pharmaceuticals by 0.6% during the first quarter. IFM Investors Pty Ltd now owns 23,850 shares of the biopharmaceutical company's stock worth $6,440,000 after acquiring an additional 150 shares during the last quarter. Finally, Bayforest Capital Ltd lifted its stake in shares of Alnylam Pharmaceuticals by 14.6% in the first quarter. Bayforest Capital Ltd now owns 306 shares of the biopharmaceutical company's stock worth $83,000 after acquiring an additional 39 shares during the period. 92.97% of the stock is currently owned by institutional investors and hedge funds.

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.