Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays increased Alnylam Pharmaceuticals' target price from $329.00 to $460.00, indicating a potential upside of 17.28% from its current price, while maintaining an "overweight" rating.
• Other brokerages have also raised their target prices for Alnylam, with Chardan Capital setting a target of $400.00 and Morgan Stanley estimating $405.00.
• Despite a revenue increase of 20.2% year-over-year, Alnylam reported a loss of ($0.44) earnings per share, missing the consensus estimate by ($0.07).

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its target price hoisted by Barclays from $329.00 to $460.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the biopharmaceutical company's stock. Barclays's price objective would indicate a potential upside of 17.28% from the company's current price.

Several other brokerages also recently weighed in on ALNY. Chardan Capital boosted their price objective on Alnylam Pharmaceuticals from $325.00 to $400.00 and gave the company a "buy" rating in a research report on Friday. Raymond James Financial assumed coverage on Alnylam Pharmaceuticals in a report on Wednesday. They set an "outperform" rating and a $370.00 target price for the company. Morgan Stanley upped their target price on Alnylam Pharmaceuticals from $312.00 to $405.00 and gave the company an "equal weight" rating in a report on Friday. Truist Financial assumed coverage on Alnylam Pharmaceuticals in a report on Monday, July 21st. They set a "buy" rating and a $385.00 target price for the company. Finally, UBS Group upped their target price on Alnylam Pharmaceuticals from $331.00 to $349.00 and gave the company a "buy" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the company's stock. According to MarketBeat, Alnylam Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $375.63.

Alnylam Pharmaceuticals Stock Performance

NASDAQ:ALNY opened at $392.24 on Friday. The business has a 50 day moving average of $316.00 and a 200 day moving average of $277.50. The company has a market capitalization of $51.14 billion, a price-to-earnings ratio of -187.67 and a beta of 0.23. Alnylam Pharmaceuticals has a 1-year low of $205.87 and a 1-year high of $402.43. 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 announced its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.07). Alnylam Pharmaceuticals had a negative net margin of 11.49% and a negative return on equity of 510.31%. The company had revenue of $594.19 million during the quarter, compared to the consensus estimate of $584.32 million. During the same quarter in the previous year, the firm posted ($0.16) EPS. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. On average, sell-side analysts predict that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 31,640 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $304.39, for a total value of $9,630,899.60. Following the transaction, the chief executive officer owned 48,948 shares of the company's stock, valued at approximately $14,899,281.72. This represents a 39.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Bayforest Capital Ltd raised its stake in shares of Alnylam Pharmaceuticals by 14.6% in the first quarter. Bayforest Capital Ltd now owns 306 shares of the biopharmaceutical company's stock worth $83,000 after buying an additional 39 shares during the period. Investment Management Corp of Ontario raised its stake in shares of 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 buying an additional 40 shares during the period. Brevan Howard Capital Management LP raised its stake in shares of 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 buying an additional 44 shares during the period. Fulton Bank N.A. raised its stake in shares of Alnylam Pharmaceuticals by 3.3% in the second quarter. Fulton Bank N.A. now owns 1,421 shares of the biopharmaceutical company's stock worth $463,000 after buying an additional 46 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Alnylam Pharmaceuticals by 10.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 525 shares of the biopharmaceutical company's stock worth $142,000 after buying an additional 49 shares during the period. Institutional investors 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.

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