Alnylam Pharmaceuticals (NASDAQ:ALNY) Reaches New 1-Year High - Should You Buy?

Key Points

• Alnylam Pharmaceuticals' stock reached a new 52-week high of **$422.64**, with a recent trading price of **$419.55** and a trading volume of over **1.45 million shares**.
• Multiple analyst upgrades were noted, with Barclays raising the price target to **$460.00** and Needham increasing it to **$478.00**, while maintaining a **"buy" rating**.
• The company reported a **$0.32 EPS** for the last quarter, significantly exceeding analysts' estimates of **($0.54)**, and the revenues increased by **17.3% year-over-year**.

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $422.64 and last traded at $419.55, with a volume of 1455450 shares changing hands. The stock had previously closed at $401.80.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. BMO Capital Markets raised their target price on Alnylam Pharmaceuticals from $300.00 to $360.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. Canaccord Genuity Group increased their price objective on Alnylam Pharmaceuticals from $390.00 to $415.00 and gave the company a "buy" rating in a report on Friday, August 1st. Oppenheimer raised Alnylam Pharmaceuticals from a "market perform" rating to an "outperform" rating and set a $490.00 target price for the company in a report on Monday. Needham & Company LLC upped their target price on Alnylam Pharmaceuticals from $377.00 to $478.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Scotiabank increased their price target on shares of Alnylam Pharmaceuticals from $342.00 to $450.00 and gave the stock a "sector outperform" rating in a report on Friday, August 1st. Four research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $403.92.

Alnylam Pharmaceuticals Trading Up 1.6%

The firm has a market cap of $57.03 billion, a price-to-earnings ratio of -176.15 and a beta of 0.25. The company's 50-day moving average price is $329.10 and its 200-day moving average price is $283.50. The company has a quick ratio of 2.98, a current ratio of 2.80 and a debt-to-equity ratio of 4.10.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.86. Alnylam Pharmaceuticals had a negative return on equity of 273.52% and a negative net margin of 12.96%. The company had revenue of $773,689 billion for the quarter, compared to analysts' expectations of $633.54 million. During the same period in the previous year, the firm posted ($0.13) EPS. Alnylam Pharmaceuticals's revenue was up 17.3% compared to the same quarter last year. Equities analysts expect that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In related news, CEO Yvonne Greenstreet sold 19,297 shares of the stock in a transaction 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 directly owned 48,948 shares of the company's stock, valued at approximately $14,978,088. This represents a 28.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Large investors have recently modified their holdings of the business. Bessemer Group Inc. boosted its stake in Alnylam Pharmaceuticals by 176.9% during the first quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 69 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Alnylam Pharmaceuticals during the 1st quarter valued at about $275,000. GAMMA Investing LLC grew its holdings in shares of Alnylam Pharmaceuticals by 14.3% in the first quarter. GAMMA Investing LLC now owns 616 shares of the biopharmaceutical company's stock valued at $166,000 after purchasing an additional 77 shares during the period. Brighton Jones LLC purchased a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter valued at about $243,000. Finally, Silvercrest Asset Management Group LLC acquired a new stake in Alnylam Pharmaceuticals during the fourth quarter worth about $1,151,000. Hedge funds and other institutional investors 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.