Alnylam Pharmaceuticals (NASDAQ:ALNY) Sets New 1-Year High on Analyst Upgrade

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Get Free Report) shares reached a new 52-week high on Monday after Wells Fargo & Company raised their price target on the stock from $287.00 to $333.00. Wells Fargo & Company currently has an equal weight rating on the stock. Alnylam Pharmaceuticals traded as high as $327.05 and last traded at $325.34, with a volume of 360775 shares. The stock had previously closed at $322.83.

Other analysts have also recently issued research reports about the stock. Bank of America boosted their target price on shares of Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. BMO Capital Markets boosted their price objective on Alnylam Pharmaceuticals from $300.00 to $360.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 24th. JPMorgan Chase & Co. increased their target price on Alnylam Pharmaceuticals from $330.00 to $338.00 and gave the company an "overweight" rating in a research report on Thursday, June 12th. Needham & Company LLC lifted their price target on Alnylam Pharmaceuticals from $320.00 to $377.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Finally, William Blair reaffirmed an "outperform" rating on shares of Alnylam Pharmaceuticals in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $340.00.

Insider Activity

In related news, CEO Yvonne Greenstreet sold 31,640 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $304.39, for a total transaction of $9,630,899.60. Following the sale, the chief executive officer owned 48,948 shares in the company, valued at $14,899,281.72. This represents a 39.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of ALNY. Bayforest Capital Ltd increased its stake in shares of Alnylam Pharmaceuticals by 14.6% in the 1st quarter. Bayforest Capital Ltd now owns 306 shares of the biopharmaceutical company's stock valued at $83,000 after acquiring an additional 39 shares in the last quarter. Investment Management Corp of Ontario grew its holdings in Alnylam Pharmaceuticals by 0.6% in the fourth quarter. Investment Management Corp of Ontario now owns 7,099 shares of the biopharmaceutical company's stock worth $1,670,000 after purchasing an additional 40 shares during the period. Brevan Howard Capital Management LP grew its holdings in Alnylam Pharmaceuticals by 3.4% in the fourth quarter. Brevan Howard Capital Management LP now owns 1,333 shares of the biopharmaceutical company's stock worth $314,000 after purchasing an additional 44 shares during the period. IFP Advisors Inc increased its stake in Alnylam Pharmaceuticals by 24.2% in the fourth quarter. IFP Advisors Inc now owns 241 shares of the biopharmaceutical company's stock valued at $57,000 after purchasing an additional 47 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Alnylam Pharmaceuticals by 10.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 525 shares of the biopharmaceutical company's stock valued at $142,000 after purchasing an additional 49 shares during the period. 92.97% of the stock is currently owned by institutional investors.

Alnylam Pharmaceuticals Stock Up 0.7%

The stock has a market cap of $43.28 billion, a price-to-earnings ratio of -158.82 and a beta of 0.23. The firm's fifty day moving average price is $291.57 and its two-hundred day moving average price is $264.87. 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 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 firm had revenue of $594.19 million for the quarter, compared to analyst estimates of $584.32 million. During the same period last year, the company posted ($0.16) earnings per share. The firm's quarterly revenue was up 20.2% compared to the same quarter last year. Sell-side analysts forecast that Alnylam Pharmaceuticals, Inc. will post -1.7 earnings per share for the current fiscal year.

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.