Alnylam Pharmaceuticals (NASDAQ:ALNY) Hits New 1-Year High - What's Next?

Key Points

• Alnylam Pharmaceuticals reached a new 52-week high stock price of $340.63, with significant trading volume of 170,583 shares.
• Analysts maintain a consensus rating of "Moderate Buy" for the stock, with 23 buy ratings and an average price target of $350.75.
• CEO Yvonne Greenstreet sold 31,640 shares, reflecting a 39.26% decrease in her ownership position, raising questions about insider sentiment.

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The company traded as high as $338.06 and last traded at $340.63, with a volume of 170583 shares changing hands. The stock had previously closed at $330.55.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets boosted their price objective on shares of Alnylam Pharmaceuticals from $300.00 to $360.00 and gave the company an "outperform" rating in a research report on Tuesday, June 24th. Canaccord Genuity Group boosted their target price on shares of Alnylam Pharmaceuticals from $390.00 to $415.00 and gave the company a "buy" rating in a report on Friday. Truist Financial assumed coverage on shares of Alnylam Pharmaceuticals in a report on Monday, July 21st. They issued a "buy" rating and a $385.00 target price for the company. Raymond James Financial assumed coverage on shares of Alnylam Pharmaceuticals in a report on Wednesday. They issued an "outperform" rating and a $370.00 target price for the company. Finally, Wall Street Zen upgraded shares of Alnylam Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, Alnylam Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $379.25.

Alnylam Pharmaceuticals Stock Up 0.3%

The stock has a market capitalization of $51.30 billion, a price-to-earnings ratio of -188.85 and a beta of 0.23. The firm's fifty day moving average is $316.00 and its 200-day moving average is $277.50. The company has a debt-to-equity ratio of 8.88, a current ratio of 3.04 and a quick ratio of 2.98.

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

Insider Transactions at Alnylam Pharmaceuticals

In related news, CEO Yvonne Greenstreet sold 19,297 shares of the company's stock in a transaction on 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 sale, the chief executive officer directly owned 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 legal filing with the SEC, which is accessible through this link. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Capital World Investors raised its holdings in shares of Alnylam Pharmaceuticals by 0.6% during the fourth quarter. Capital World Investors now owns 16,600,525 shares of the biopharmaceutical company's stock worth $3,906,284,000 after purchasing an additional 92,101 shares during the period. Vanguard Group Inc. raised its holdings in shares of Alnylam Pharmaceuticals by 2.5% during the first quarter. Vanguard Group Inc. now owns 13,056,605 shares of the biopharmaceutical company's stock worth $3,525,544,000 after purchasing an additional 323,206 shares during the period. Capital Research Global Investors raised its holdings in shares of 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 period. T. Rowe Price Investment Management Inc. raised its holdings in shares of Alnylam Pharmaceuticals by 0.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,418,145 shares of the biopharmaceutical company's stock worth $1,192,988,000 after purchasing an additional 33,696 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Alnylam Pharmaceuticals by 5.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,505,168 shares of the biopharmaceutical company's stock worth $946,466,000 after purchasing an additional 185,783 shares during the period. 92.97% of the stock is owned by institutional investors and hedge funds.

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.