Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Key Points

• Needham & Company LLC has raised its price target for Alnylam Pharmaceuticals from $377.00 to $478.00, indicating a potential upside of 22.34% from the current stock price.
• Alnylam Pharmaceuticals recently achieved a stock price increase of 15.0% during midday trading, with shares reaching $390.72 and a trading volume significantly higher than average.
• A total of twenty-three analysts have issued a buy rating for Alnylam Pharmaceuticals, contributing to an average rating of "Moderate Buy" with a target price of $354.96.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price objective lifted by equities research analysts at Needham & Company LLC from $377.00 to $478.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the biopharmaceutical company's stock. Needham & Company LLC's price target would suggest a potential upside of 22.34% from the stock's current price.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Alnylam Pharmaceuticals from $338.00 to $348.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. HC Wainwright reaffirmed a "buy" rating and set a $500.00 price objective on shares of Alnylam Pharmaceuticals in a report on Wednesday, April 2nd. UBS Group boosted their target price on shares of Alnylam Pharmaceuticals from $331.00 to $349.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Jefferies Financial Group lifted their price objective on Alnylam Pharmaceuticals from $328.00 to $384.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Finally, Morgan Stanley decreased their price target on shares of Alnylam Pharmaceuticals from $284.00 to $268.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the company's stock. According to data from MarketBeat, Alnylam Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $354.96.

Alnylam Pharmaceuticals Trading Up 15.0%

Alnylam Pharmaceuticals stock traded up $50.92 during midday trading on Thursday, reaching $390.72. The stock had a trading volume of 2,389,865 shares, compared to its average volume of 913,582. Alnylam Pharmaceuticals has a twelve month low of $205.87 and a twelve month 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. The firm has a market cap of $50.95 billion, a price-to-earnings ratio of -186.07 and a beta of 0.23. The firm's fifty day simple moving average is $313.94 and its two-hundred day simple moving average is $276.58.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released 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). Alnylam Pharmaceuticals had a negative return on equity of 510.31% and a negative net margin of 11.49%. The firm had revenue of $594.19 million during the quarter, compared to analyst estimates of $584.32 million. During the same quarter in the prior year, the company posted ($0.16) EPS. The company's quarterly revenue was up 20.2% on a year-over-year basis. Equities analysts anticipate that Alnylam Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, CEO Yvonne Greenstreet sold 19,297 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $306.00, for a total transaction of $5,904,882.00. Following the completion of the transaction, the chief executive officer directly owned 48,948 shares in the company, valued at approximately $14,978,088. The trade was a 28.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. SVB Wealth LLC bought a new position in Alnylam Pharmaceuticals during the 1st quarter worth $27,000. Whipplewood Advisors LLC raised its stake in Alnylam Pharmaceuticals by 208.8% in the first quarter. Whipplewood Advisors LLC now owns 105 shares of the biopharmaceutical company's stock valued at $28,000 after purchasing an additional 71 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Alnylam Pharmaceuticals by 176.9% in the 1st 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. Park Square Financial Group LLC acquired a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter valued at about $28,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Alnylam Pharmaceuticals in the second quarter valued at $42,000. 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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