Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $570.00 Price Target at HC Wainwright

Key Points

• HC Wainwright has raised its price target for Alnylam Pharmaceuticals from $500.00 to $570.00, indicating a potential upside of 33.13% from its current price.
• The company's stock received multiple ratings upgrades, with twenty-four analysts currently recommending a buy, leading to an average rating of "Moderate Buy."
• Alnylam Pharmaceuticals reported a quarterly earnings per share of $0.32, significantly beating analysts' estimates, alongside a revenue increase of 17.3% year-over-year.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its target price upped by stock analysts at HC Wainwright from $500.00 to $570.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the biopharmaceutical company's stock. HC Wainwright's price target points to a potential upside of 29.86% from the stock's previous close.

ALNY has been the topic of several other research reports. UBS Group boosted their target price on Alnylam Pharmaceuticals from $403.00 to $550.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Wall Street Zen raised shares of Alnylam Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Barclays increased their target price on shares of Alnylam Pharmaceuticals from $329.00 to $460.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Oppenheimer upgraded shares of Alnylam Pharmaceuticals from a "market perform" rating to an "outperform" rating and set a $490.00 target price for the company in a report on Monday. Finally, Scotiabank upped their price target on shares of Alnylam Pharmaceuticals from $342.00 to $450.00 and gave the company a "sector outperform" rating in a report on Friday, August 1st. Four analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, Alnylam Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $403.92.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ:ALNY traded up $3.83 on Thursday, reaching $438.93. The company's stock had a trading volume of 901,269 shares, compared to its average volume of 1,207,924. The company has a 50-day simple moving average of $331.79 and a 200 day simple moving average of $284.70. Alnylam Pharmaceuticals has a 52-week low of $205.87 and a 52-week high of $439.36. The company has a debt-to-equity ratio of 4.10, a quick ratio of 2.98 and a current ratio of 2.80. The company has a market cap of $57.53 billion, a P/E ratio of -177.70 and a beta of 0.25.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of ($0.54) by $0.86. Alnylam Pharmaceuticals had a negative net margin of 12.96% and a negative return on equity of 273.52%. The firm had revenue of $773,689 billion during the quarter, compared to the consensus estimate of $633.54 million. During the same quarter last year, the firm earned ($0.13) EPS. The firm's revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Alnylam Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In other news, CEO Yvonne Greenstreet sold 19,297 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $306.00, for a total transaction of $5,904,882.00. Following the transaction, the chief executive officer directly owned 48,948 shares in the company, valued at approximately $14,978,088. This trade represents a 28.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.50% of the company's stock.

Institutional Trading of Alnylam Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC purchased a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter worth $243,000. National Bank of Canada FI raised its holdings in Alnylam Pharmaceuticals by 9.0% in the fourth quarter. National Bank of Canada FI now owns 668 shares of the biopharmaceutical company's stock worth $157,000 after purchasing an additional 55 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Alnylam Pharmaceuticals by 110.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 66,014 shares of the biopharmaceutical company's stock valued at $15,534,000 after buying an additional 34,647 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Alnylam Pharmaceuticals by 3.9% in the 4th quarter. Cerity Partners LLC now owns 13,525 shares of the biopharmaceutical company's stock valued at $3,238,000 after buying an additional 506 shares in the last quarter. Finally, FIL Ltd boosted its holdings in shares of Alnylam Pharmaceuticals by 48.8% in the 4th quarter. FIL Ltd now owns 22,066 shares of the biopharmaceutical company's stock valued at $5,192,000 after buying an additional 7,236 shares in the last quarter. Hedge funds and other institutional investors own 92.97% of the company's stock.

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.