Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $515.05

Key Points

• Alnylam Pharmaceuticals had its price target raised from $280.00 to $515.05 by Evercore ISI, indicating a potential upside of 9.55% from its previous close.
• Wells Fargo, Oppenheimer, and Piper Sandler also upgraded their target prices for Alnylam, with the average target price now at $421.28.
• Alnylam's recent quarterly earnings report showed a significant revenue of $773.69 million, exceeding analysts' expectations and marking a 17.3% year-over-year increase.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its target price lifted by analysts at Evercore ISI from $280.00 to $515.05 in a report released on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the biopharmaceutical company's stock. Evercore ISI's price target indicates a potential upside of 9.55% from the company's previous close.

A number of other research analysts have also recently commented on the company. Wells Fargo & Company increased their target price on Alnylam Pharmaceuticals from $333.00 to $395.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Oppenheimer upgraded shares of Alnylam Pharmaceuticals from a "market perform" rating to an "outperform" rating and set a $490.00 price target for the company in a research report on Monday, August 4th. Piper Sandler increased their target price on shares of Alnylam Pharmaceuticals from $304.00 to $449.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Wall Street Zen lowered shares of Alnylam Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Finally, Needham & Company LLC lifted their target price on shares of Alnylam Pharmaceuticals from $377.00 to $478.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Twenty-three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $421.28.

Alnylam Pharmaceuticals Trading Up 0.2%

NASDAQ:ALNY opened at $470.17 on Thursday. The company has a market cap of $61.63 billion, a P/E ratio of -189.68 and a beta of 0.32. The stock's fifty day moving average price is $396.04 and its two-hundred day moving average price is $313.80. Alnylam Pharmaceuticals has a 1 year low of $205.87 and a 1 year high of $484.21. The company has a debt-to-equity ratio of 4.10, a current ratio of 2.80 and a quick ratio of 2.75.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $0.32 EPS 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 analyst estimates of $633.54 million. Alnylam Pharmaceuticals had a negative net margin of 12.96% and a negative return on equity of 273.52%. The business's revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.13) EPS. Alnylam Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, analysts expect that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insider Activity

In other news, EVP Pushkal Garg sold 1,455 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $458.41, for a total transaction of $666,986.55. Following the completion of the sale, the executive vice president owned 20,221 shares of the company's stock, valued at $9,269,508.61. The trade was a 6.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeffrey V. Poulton sold 2,274 shares of Alnylam Pharmaceuticals stock in a transaction on Monday, August 18th. The shares were sold at an average price of $453.27, for a total transaction of $1,030,735.98. Following the transaction, the executive vice president owned 50,121 shares in the company, valued at approximately $22,718,345.67. This trade represents a 4.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,594 shares of company stock worth $25,551,456. Company insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Osaic Holdings Inc. increased its holdings in Alnylam Pharmaceuticals by 132.5% in the 2nd quarter. Osaic Holdings Inc. now owns 3,787 shares of the biopharmaceutical company's stock valued at $1,202,000 after acquiring an additional 2,158 shares during the last quarter. Orion Porfolio Solutions LLC increased its holdings in Alnylam Pharmaceuticals by 11.7% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 4,309 shares of the biopharmaceutical company's stock valued at $1,405,000 after acquiring an additional 452 shares during the last quarter. Hudson Bay Capital Management LP increased its holdings in shares of Alnylam Pharmaceuticals by 138.4% in the 2nd quarter. Hudson Bay Capital Management LP now owns 15,348 shares of the biopharmaceutical company's stock worth $5,005,000 after buying an additional 55,348 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Alnylam Pharmaceuticals by 8.7% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 91,154 shares of the biopharmaceutical company's stock worth $29,731,000 after buying an additional 7,326 shares during the last quarter. Finally, Ewing Morris & Co. Investment Partners Ltd. bought a new stake in shares of Alnylam Pharmaceuticals in the 2nd quarter worth about $470,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.