Alnylam Pharmaceuticals (NASDAQ:ALNY) Sets New 1-Year High - Time to Buy?

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $308.93 and last traded at $305.31, with a volume of 563088 shares traded. The stock had previously closed at $303.77.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. UBS Group raised their price target on Alnylam Pharmaceuticals from $331.00 to $349.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Stifel Nicolaus raised their target price on shares of Alnylam Pharmaceuticals from $300.00 to $345.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Wall Street Zen upgraded shares of Alnylam Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. William Blair reissued an "outperform" rating on shares of Alnylam Pharmaceuticals in a research report on Friday, March 21st. Finally, Chardan Capital boosted their price objective on shares of Alnylam Pharmaceuticals from $300.00 to $325.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $319.17.

Alnylam Pharmaceuticals Trading Down 2.3%

The company has a debt-to-equity ratio of 15.27, a quick ratio of 2.71 and a current ratio of 2.78. The firm has a fifty day moving average price of $263.27 and a 200 day moving average price of $256.68. The company has a market cap of $39.22 billion, a price-to-earnings ratio of -138.63 and a beta of 0.17.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($0.44) EPS for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.07). The firm had revenue of $594.19 million for the quarter, compared to the consensus estimate of $584.32 million. Alnylam Pharmaceuticals's revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.16) earnings per share. As a group, equities analysts predict that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 31,640 shares of Alnylam Pharmaceuticals stock in a transaction on Friday, May 30th. The shares were sold at an average price of $304.39, for a total transaction of $9,630,899.60. Following the completion of the transaction, the chief executive officer now directly owns 48,948 shares of the company's stock, valued at $14,899,281.72. The trade was a 39.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several large investors have recently modified their holdings of the stock. Strategic Financial Concepts LLC acquired a new position in Alnylam Pharmaceuticals in the 4th quarter valued at about $41,529,000. Truist Financial Corp grew its position in shares of Alnylam Pharmaceuticals by 136.6% in the fourth quarter. Truist Financial Corp now owns 4,398 shares of the biopharmaceutical company's stock valued at $1,035,000 after purchasing an additional 2,539 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Alnylam Pharmaceuticals by 3.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 286,703 shares of the biopharmaceutical company's stock worth $67,464,000 after purchasing an additional 8,462 shares during the period. Ieq Capital LLC lifted its holdings in Alnylam Pharmaceuticals by 825.5% during the 4th quarter. Ieq Capital LLC now owns 38,806 shares of the biopharmaceutical company's stock worth $9,131,000 after purchasing an additional 34,613 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in Alnylam Pharmaceuticals by 24.2% during the 4th quarter. IFP Advisors Inc now owns 241 shares of the biopharmaceutical company's stock worth $57,000 after purchasing an additional 47 shares during the last quarter. 92.97% of the stock is 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.