Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $360.00 Price Target at BMO Capital Markets

Alnylam Pharmaceuticals (NASDAQ:ALNY - Free Report) had its target price raised by BMO Capital Markets from $300.00 to $360.00 in a research report sent to investors on Tuesday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the biopharmaceutical company's stock.

A number of other equities research analysts have also commented on the company. Chardan Capital raised their price target on Alnylam Pharmaceuticals from $300.00 to $325.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Needham & Company LLC reaffirmed a "buy" rating and set a $320.00 price target on shares of Alnylam Pharmaceuticals in a research report on Wednesday, April 9th. Wells Fargo & Company raised their price target on Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the stock an "equal weight" rating in a research report on Friday, March 21st. JPMorgan Chase & Co. raised their price target on Alnylam Pharmaceuticals from $330.00 to $338.00 and gave the stock an "overweight" rating in a research report on Thursday, June 12th. Finally, Scotiabank raised their price target on Alnylam Pharmaceuticals from $338.00 to $342.00 and gave the stock a "sector outperform" rating in a research report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $324.83.

Alnylam Pharmaceuticals Trading Down 0.9%

ALNY traded down $3.06 during midday trading on Tuesday, reaching $321.94. 632,571 shares of the company were exchanged, compared to its average volume of 879,749. The company has a debt-to-equity ratio of 8.88, a quick ratio of 2.98 and a current ratio of 3.04. Alnylam Pharmaceuticals has a one year low of $205.87 and a one year high of $326.03. The stock has a market capitalization of $41.98 billion, a P/E ratio of -154.04 and a beta of 0.22. The stock's 50-day simple moving average is $282.80 and its 200 day simple moving average is $262.36.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its quarterly earnings results 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 business had revenue of $594.19 million for the quarter, compared to analyst estimates of $584.32 million. Alnylam Pharmaceuticals had a negative return on equity of 510.31% and a negative net margin of 11.49%. The company's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.16) EPS. As a group, analysts forecast that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Yvonne Greenstreet sold 19,297 shares of the business's 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 transaction, the chief executive officer now directly owns 48,948 shares of the company's stock, valued at approximately $14,978,088. The trade was a 28.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Bayforest Capital Ltd increased its holdings in shares of Alnylam Pharmaceuticals by 14.6% during the 1st quarter. Bayforest Capital Ltd now owns 306 shares of the biopharmaceutical company's stock worth $83,000 after acquiring an additional 39 shares during the last quarter. Investment Management Corp of Ontario increased its holdings in shares of Alnylam Pharmaceuticals by 0.6% during the 4th quarter. Investment Management Corp of Ontario now owns 7,099 shares of the biopharmaceutical company's stock worth $1,670,000 after acquiring an additional 40 shares during the last quarter. Nixon Peabody Trust Co. increased its holdings in shares of Alnylam Pharmaceuticals by 1.9% during the 4th quarter. Nixon Peabody Trust Co. now owns 2,293 shares of the biopharmaceutical company's stock worth $540,000 after acquiring an additional 43 shares during the last quarter. Brevan Howard Capital Management LP increased its holdings in shares of Alnylam Pharmaceuticals by 3.4% during the 4th quarter. Brevan Howard Capital Management LP now owns 1,333 shares of the biopharmaceutical company's stock worth $314,000 after acquiring an additional 44 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in Alnylam Pharmaceuticals by 24.2% in the 4th quarter. IFP Advisors Inc now owns 241 shares of the biopharmaceutical company's stock valued at $57,000 after purchasing an additional 47 shares during the period. 92.97% of the stock is 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.