Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $359.00 Price Target at Bank of America

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price objective boosted by equities research analysts at Bank of America from $336.00 to $359.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the biopharmaceutical company's stock. Bank of America's price target would indicate a potential upside of 13.99% from the stock's previous close.

Several other analysts have also recently issued reports on the stock. Chardan Capital increased their target price on shares of Alnylam Pharmaceuticals from $300.00 to $325.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. HC Wainwright reiterated a "buy" rating and issued a $500.00 target price on shares of Alnylam Pharmaceuticals in a research note on Wednesday, April 2nd. William Blair reiterated an "outperform" rating on shares of Alnylam Pharmaceuticals in a research note on Friday, March 21st. Citigroup increased their target price on shares of Alnylam Pharmaceuticals from $338.00 to $351.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. increased their target price on shares of Alnylam Pharmaceuticals from $330.00 to $338.00 and gave the company an "overweight" rating in a report on Thursday, June 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $345.70.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY stock traded down $7.70 during trading on Friday, reaching $314.94. 1,081,877 shares of the company's stock traded hands, compared to its average volume of 856,180. The company has a market capitalization of $41.07 billion, a P/E ratio of -150.69 and a beta of 0.23. The company has a current ratio of 3.04, a quick ratio of 2.98 and a debt-to-equity ratio of 8.88. The firm's 50-day moving average is $301.17 and its 200 day moving average is $268.77. Alnylam Pharmaceuticals has a 1 year low of $205.87 and a 1 year high of $333.70.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its earnings results 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). 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 analysts' expectations of $584.32 million. During the same quarter in the prior year, the company earned ($0.16) earnings per share. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. Equities research analysts expect that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 31,640 shares of Alnylam Pharmaceuticals 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 completion of the transaction, the chief executive officer directly owned 48,948 shares of the company's stock, valued at approximately $14,899,281.72. The trade was a 39.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. SVB Wealth LLC purchased a new position in Alnylam Pharmaceuticals in the first quarter worth about $27,000. Whipplewood Advisors LLC grew its stake in shares of Alnylam Pharmaceuticals by 208.8% in the first quarter. Whipplewood Advisors LLC now owns 105 shares of the biopharmaceutical company's stock worth $28,000 after acquiring an additional 71 shares during the period. Bessemer Group Inc. grew its stake in shares of Alnylam Pharmaceuticals by 176.9% in the first quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 69 shares during the period. Larson Financial Group LLC grew its stake in shares of Alnylam Pharmaceuticals by 187.2% in the fourth quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company's stock worth $26,000 after acquiring an additional 73 shares during the period. Finally, Park Square Financial Group LLC bought a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter worth approximately $28,000. 92.97% of the stock is owned by hedge funds and other 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.