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

Key Points

• Chardan Capital has raised its price target for Alnylam Pharmaceuticals from $325 to $400, indicating a potential upside from the stock's previous close.
• In addition to Chardan, several analysts have initiated price increases for Alnylam, including Jefferies and Needham, with a consensus rating of "Moderate Buy" for the stock.
• Alnylam recently reported a quarterly loss of ($0.44) EPS, missing estimates, but showed substantial revenue growth with a reported $594.19 million for the quarter.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price objective hoisted by equities research analysts at Chardan Capital from $325.00 to $400.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the biopharmaceutical company's stock. Chardan Capital's price objective indicates a potential upside of 1.98% from the stock's previous close.

Several other equities research analysts also recently weighed in on the stock. Jefferies Financial Group raised their target price on shares of Alnylam Pharmaceuticals from $328.00 to $384.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Bank of America raised their target price on shares of Alnylam Pharmaceuticals from $336.00 to $359.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Needham & Company LLC raised their target price on shares of Alnylam Pharmaceuticals from $377.00 to $478.00 and gave the company a "buy" rating in a research note on Thursday. Wall Street Zen upgraded shares of Alnylam Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Citigroup lifted their price objective on shares of Alnylam Pharmaceuticals from $364.00 to $404.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $370.17.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY stock opened at $392.24 on Friday. The firm has a market cap of $51.14 billion, a price-to-earnings ratio of -187.67 and a beta of 0.23. The company's 50 day moving average is $316.00 and its 200 day moving average is $277.50. The company has a quick ratio of 2.98, a current ratio of 3.04 and a debt-to-equity ratio of 8.88. Alnylam Pharmaceuticals has a 52-week low of $205.87 and a 52-week high of $402.43.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.07). The business had revenue of $594.19 million for the quarter, compared to analysts' expectations of $584.32 million. Alnylam Pharmaceuticals had a negative net margin of 11.49% and a negative return on equity of 510.31%. The business's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.16) earnings per share. On average, sell-side analysts anticipate that Alnylam Pharmaceuticals 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 the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $304.39, for a total value of $9,630,899.60. Following the transaction, the chief executive officer directly owned 48,948 shares in the company, valued at $14,899,281.72. The trade was a 39.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Capital World Investors boosted its holdings in Alnylam Pharmaceuticals by 0.6% in the 4th quarter. Capital World Investors now owns 16,600,525 shares of the biopharmaceutical company's stock valued at $3,906,284,000 after purchasing an additional 92,101 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Alnylam Pharmaceuticals by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 13,056,605 shares of the biopharmaceutical company's stock worth $3,525,544,000 after acquiring an additional 323,206 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Alnylam Pharmaceuticals by 32.9% in the 4th quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company's stock worth $1,639,767,000 after acquiring an additional 1,724,610 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Alnylam Pharmaceuticals by 0.8% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,418,145 shares of the biopharmaceutical company's stock worth $1,192,988,000 after acquiring an additional 33,696 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Alnylam Pharmaceuticals by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,505,168 shares of the biopharmaceutical company's stock worth $946,466,000 after acquiring an additional 185,783 shares during the last quarter. 92.97% of the stock is currently owned by institutional investors and hedge funds.

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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