Alnylam Pharmaceuticals (NASDAQ:ALNY) Hits New 12-Month High - Here's What Happened

Key Points

• Alnylam Pharmaceuticals' stock reached a new 52-week high of $479.04, closing at $474.71 with significant trading volume of over 1.26 million shares.
• Analysts have shown increased confidence in Alnylam, with several firms raising price targets, including UBS ($550) and Citigroup ($583), indicating strong buy ratings across the board.
• The company reported a surprising quarterly earnings per share of $0.32, significantly surpassing expectations and reflecting a year-over-year revenue increase of 17.3%.

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $479.04 and last traded at $474.71, with a volume of 1260280 shares changing hands. The stock had previously closed at $455.03.

Analyst Ratings Changes

Several brokerages have recently issued reports on ALNY. Wells Fargo & Company lifted their target price on Alnylam Pharmaceuticals from $333.00 to $395.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Truist Financial initiated coverage on Alnylam Pharmaceuticals in a research note on Monday, July 21st. They issued a "buy" rating and a $385.00 price objective on the stock. UBS Group increased their target price on Alnylam Pharmaceuticals from $403.00 to $550.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Raymond James Financial started coverage on shares of Alnylam Pharmaceuticals in a research report on Wednesday, July 30th. They issued an "outperform" rating and a $370.00 price target on the stock. Finally, Scotiabank increased their price objective on shares of Alnylam Pharmaceuticals from $342.00 to $450.00 and gave the company a "sector outperform" rating in a research report on Friday, August 1st. Twenty-three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Alnylam Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $421.28.

Alnylam Pharmaceuticals Stock Performance

The firm has a market cap of $61.07 billion, a price-to-earnings ratio of -188.62 and a beta of 0.32. The company has a debt-to-equity ratio of 4.10, a current ratio of 2.80 and a quick ratio of 2.75. The firm has a fifty day simple moving average of $401.46 and a two-hundred day simple moving average of $316.84.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its earnings results on Thursday, July 31st. The biopharmaceutical company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of ($0.54) by $0.86. Alnylam Pharmaceuticals had a negative net margin of 12.96% and a negative return on equity of 273.52%. The company had revenue of $773.69 million during the quarter, compared to analysts' expectations of $633.54 million. During the same period last year, the business earned ($0.13) EPS. Alnylam Pharmaceuticals's revenue for the quarter was up 17.3% on a year-over-year basis. Alnylam Pharmaceuticals has set its FY 2025 guidance at EPS. On average, analysts expect that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

Insider Buying and Selling

In related news, Director Michael W. Bonney sold 11,250 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $450.00, for a total value of $5,062,500.00. Following the completion of the transaction, the director directly owned 16,804 shares in the company, valued at $7,561,800. The trade was a 40.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dennis A. Ausiello sold 31,448 shares of Alnylam Pharmaceuticals stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $436.58, for a total transaction of $13,729,567.84. Following the completion of the transaction, the director directly owned 911 shares of the company's stock, valued at $397,724.38. The trade was a 97.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,594 shares of company stock worth $33,968,256 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bessemer Group Inc. lifted 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 valued at $29,000 after purchasing an additional 69 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Alnylam Pharmaceuticals in the 1st quarter valued at about $275,000. GAMMA Investing LLC boosted its holdings in Alnylam Pharmaceuticals by 14.3% in the 1st quarter. GAMMA Investing LLC now owns 616 shares of the biopharmaceutical company's stock worth $166,000 after buying an additional 77 shares during the last quarter. Brighton Jones LLC acquired a new position in shares of Alnylam Pharmaceuticals during the fourth quarter valued at approximately $243,000. Finally, Silvercrest Asset Management Group LLC acquired a new position in shares of Alnylam Pharmaceuticals during the fourth quarter valued at approximately $1,151,000. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

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.