Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $404.00

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price target upped by equities researchers at Citigroup from $364.00 to $404.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the biopharmaceutical company's stock. Citigroup's price target would suggest a potential upside of 28.28% from the stock's current price.

Several other equities research analysts have also commented on ALNY. Jefferies Financial Group lifted their price target on shares of Alnylam Pharmaceuticals from $328.00 to $384.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Scotiabank lifted their price target on shares of Alnylam Pharmaceuticals from $338.00 to $342.00 and gave the stock a "sector outperform" rating in a research note on Monday, March 31st. Chardan Capital lifted their price target 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. 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, Needham & Company LLC lifted their price target on shares of Alnylam Pharmaceuticals from $320.00 to $377.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $345.70.

Alnylam Pharmaceuticals Stock Down 2.4%

Shares of NASDAQ ALNY traded down $7.70 during mid-day trading on Friday, reaching $314.94. The company had a trading volume of 1,081,877 shares, compared to its average volume of 856,180. 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 has a 50 day simple moving average of $301.17 and a two-hundred day simple moving average of $268.77. The stock has a market cap of $41.07 billion, a P/E ratio of -150.69 and a beta of 0.23. Alnylam Pharmaceuticals has a 52-week low of $205.87 and a 52-week high of $333.70.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) 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 company had revenue of $594.19 million for the quarter, compared to analyst estimates of $584.32 million. During the same quarter in the prior year, the business earned ($0.16) earnings per share. Alnylam Pharmaceuticals's revenue was up 20.2% compared to the same quarter last year. Sell-side analysts predict that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Activity

In other 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 transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new position in Alnylam Pharmaceuticals during the fourth quarter worth about $577,941,000. Capital Research Global Investors grew its position in Alnylam Pharmaceuticals by 32.9% during the fourth quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company's stock worth $1,639,767,000 after buying an additional 1,724,610 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Alnylam Pharmaceuticals by 39.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company's stock worth $1,031,705,000 after buying an additional 1,245,195 shares during the period. Vanguard Group Inc. grew its position in Alnylam Pharmaceuticals by 2.5% during the first quarter. Vanguard Group Inc. now owns 13,056,605 shares of the biopharmaceutical company's stock worth $3,525,544,000 after buying an additional 323,206 shares during the period. Finally, Marshall Wace LLP grew its position in Alnylam Pharmaceuticals by 496.6% during the fourth quarter. Marshall Wace LLP now owns 378,649 shares of the biopharmaceutical company's stock worth $89,100,000 after buying an additional 315,182 shares during the period. 92.97% of the stock is currently owned by institutional investors and hedge funds.

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.