Alnylam Pharmaceuticals (NASDAQ:ALNY) Sets New 1-Year High - Here's Why

Key Points

• Alnylam Pharmaceuticals reached a new 52-week high of $469.81 during trading, indicating a strong performance in the market with a current trading value of $458.25.
• Investment analysts have raised their price targets for Alnylam Pharmaceuticals, with a consensus price target now at $405.33 and 22 analysts rating the stock as a "Buy".
• The company's quarterly earnings report revealed an earnings per share (EPS) of $0.32, exceeding expectations and showing a 17.3% increase in revenue year-over-year.

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $469.81 and last traded at $458.25, with a volume of 1075489 shares traded. The stock had previously closed at $467.55.

Wall Street Analyst Weigh In

ALNY has been the subject of a number of research analyst reports. Scotiabank raised their price objective 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. Bank of America raised their price target on shares of Alnylam Pharmaceuticals from $336.00 to $359.00 and gave the company a "buy" rating in a report on Friday, July 11th. Piper Sandler upped their price target 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. Canaccord Genuity Group lifted their price objective on Alnylam Pharmaceuticals from $390.00 to $415.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. boosted their target price on Alnylam Pharmaceuticals from $348.00 to $475.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Twenty-two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Alnylam Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $405.33.

Alnylam Pharmaceuticals Stock Down 0.5%

The firm has a market capitalization of $59.26 billion, a PE ratio of -183.25 and a beta of 0.25. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 4.10. The stock has a 50 day simple moving average of $360.65 and a 200 day simple moving average of $296.97.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted 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. Alnylam Pharmaceuticals had a negative net margin of 12.96% and a negative return on equity of 273.52%. The company had revenue of $773,689 billion during the quarter, compared to analyst estimates of $633.54 million. During the same period in the prior year, the business posted ($0.13) EPS. The firm's revenue was up 17.3% compared to the same quarter last year. Alnylam Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Alnylam Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, 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 value of $1,030,735.98. Following the sale, the executive vice president owned 50,121 shares in the company, valued at $22,718,345.67. The trade was a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael W. Bonney sold 11,250 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $450.00, for a total transaction of $5,062,500.00. Following the completion of the transaction, the director owned 16,804 shares of the company's stock, valued at $7,561,800. This trade represents a 40.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 108,531 shares of company stock worth $41,087,238 over the last three months. 1.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Evelyn Partners Investment Management LLP lifted its position in Alnylam Pharmaceuticals by 11.5% during the second quarter. Evelyn Partners Investment Management LLP now owns 290 shares of the biopharmaceutical company's stock valued at $95,000 after buying an additional 30 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Alnylam Pharmaceuticals by 0.3% during the second quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company's stock valued at $4,220,000 after purchasing an additional 35 shares in the last quarter. Bayforest Capital Ltd increased its stake in shares of Alnylam Pharmaceuticals by 14.6% during the first quarter. Bayforest Capital Ltd now owns 306 shares of the biopharmaceutical company's stock valued at $83,000 after purchasing an additional 39 shares in the last quarter. Investment Management Corp of Ontario increased its stake in shares of Alnylam Pharmaceuticals by 0.6% during the fourth quarter. Investment Management Corp of Ontario now owns 7,099 shares of the biopharmaceutical company's stock valued at $1,670,000 after purchasing an additional 40 shares in the last quarter. Finally, MAI Capital Management increased its stake in shares of Alnylam Pharmaceuticals by 9.2% during the second quarter. MAI Capital Management now owns 488 shares of the biopharmaceutical company's stock valued at $159,000 after purchasing an additional 41 shares in the last quarter. 92.97% of the stock is currently owned by institutional investors.

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.

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