Bank of America Boosts Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $520.00

Key Points

• Bank of America has raised its price target for Alnylam Pharmaceuticals from $453.00 to $520.00, maintaining a "buy" rating, indicating a potential upside of 12.66% from the previous close.
• Alnylam Pharmaceuticals reported a quarterly EPS of $0.32, surpassing analyst estimates of ($0.54) and achieving a revenue of $773.69 million, which is a 17.3% increase year-over-year.
• Institutional investors hold a significant portion, with 92.97% of the stock owned by hedge funds, reflecting strong institutional interest in the company.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price target raised by investment analysts at Bank of America from $453.00 to $520.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the biopharmaceutical company's stock. Bank of America's price objective points to a potential upside of 15.00% from the stock's previous close.

ALNY has been the subject of several other research reports. Oppenheimer raised shares of Alnylam Pharmaceuticals from a "market perform" rating to an "outperform" rating and set a $490.00 target price for the company in a research note on Monday, August 4th. UBS Group increased their target price on shares of Alnylam Pharmaceuticals from $403.00 to $550.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Raymond James Financial began coverage on shares of Alnylam Pharmaceuticals in a research note on Wednesday, July 30th. They set an "outperform" rating and a $370.00 target price for the company. The Goldman Sachs Group raised their price objective on shares of Alnylam Pharmaceuticals from $504.00 to $566.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, HC Wainwright reissued a "buy" rating and issued a $570.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Tuesday, September 2nd. Twenty-four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $433.04.

Alnylam Pharmaceuticals Trading Up 0.1%

ALNY stock traded up $0.44 during mid-day trading on Wednesday, hitting $452.17. 1,060,997 shares of the company were exchanged, compared to its average volume of 1,058,016. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 4.10. The firm has a market capitalization of $59.27 billion, a P/E ratio of -183.06 and a beta of 0.32. The business has a fifty day simple moving average of $412.28 and a 200-day simple moving average of $322.74. Alnylam Pharmaceuticals has a 12-month low of $205.87 and a 12-month high of $484.21.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $0.32 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.86. The company 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%. Alnylam Pharmaceuticals's revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.13) earnings per share. Alnylam Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insider Transactions at Alnylam Pharmaceuticals

In related news, EVP Kevin Joseph Fitzgerald sold 1,396 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $453.27, for a total value of $632,764.92. Following the sale, the executive vice president owned 22,719 shares of the company's stock, valued at $10,297,841.13. This trade represents a 5.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael W. Bonney sold 11,250 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $450.00, for a total transaction of $5,062,500.00. Following the completion of the sale, the director directly owned 16,804 shares in the company, valued at approximately $7,561,800. This trade represents a 40.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,594 shares of company stock valued at $33,968,256 over the last quarter. Insiders own 1.50% of the company's stock.

Institutional Trading of Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SVB Wealth LLC acquired a new stake in Alnylam Pharmaceuticals during the first quarter worth approximately $27,000. Park Square Financial Group LLC acquired a new stake in Alnylam Pharmaceuticals during the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC raised its holdings in Alnylam Pharmaceuticals by 208.8% during the first quarter. Whipplewood Advisors LLC now owns 105 shares of the biopharmaceutical company's stock worth $28,000 after purchasing an additional 71 shares in the last quarter. Bessemer Group Inc. raised its holdings 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 purchasing an additional 69 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in Alnylam Pharmaceuticals during the second quarter worth approximately $30,000. Institutional investors and hedge funds 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.