Piper Sandler Increases Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $449.00

Key Points

• Piper Sandler has raised its price target for Alnylam Pharmaceuticals from $304.00 to $449.00, maintaining an "overweight" rating, which suggests a potential upside of 14.47% from the previous close.
• Other analysts, including Citigroup and BMO Capital Markets, have also increased their price targets for Alnylam Pharmaceuticals, with a consensus rating of "Moderate Buy" and an average target price of $370.17.
• Alnylam Pharmaceuticals reported a revenue of $594.19 million for the last quarter, a 20.2% increase compared to the same period last year, although it missed earnings expectations with a reported loss of ($0.44) EPS.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price objective hoisted by analysts at Piper Sandler from $304.00 to $449.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the biopharmaceutical company's stock. Piper Sandler's price target would indicate a potential upside of 14.47% from the company's previous close.

Several other research analysts have also recently commented on the company. Citigroup boosted their target price on Alnylam Pharmaceuticals from $364.00 to $404.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. BMO Capital Markets lifted their price target on Alnylam Pharmaceuticals from $300.00 to $360.00 and gave the stock an "outperform" rating in a report on Tuesday, June 24th. Jefferies Financial Group lifted their price target on Alnylam Pharmaceuticals from $328.00 to $384.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Wells Fargo & Company lifted their price target on Alnylam Pharmaceuticals from $287.00 to $333.00 and gave the stock an "equal weight" rating in a report on Monday, June 30th. Finally, Raymond James Financial assumed coverage on Alnylam Pharmaceuticals in a report on Wednesday. They set an "outperform" rating and a $370.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $370.17.

Alnylam Pharmaceuticals Price Performance

NASDAQ:ALNY opened at $392.24 on Friday. Alnylam Pharmaceuticals has a 52 week low of $205.87 and a 52 week high of $402.43. The company has a quick ratio of 2.98, a current ratio of 3.04 and a debt-to-equity ratio of 8.88. The company has a market capitalization of $51.14 billion, a P/E ratio of -187.67 and a beta of 0.23. The stock's fifty day moving average is $316.00 and its two-hundred day moving average is $277.50.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.07). Alnylam Pharmaceuticals had a negative net margin of 11.49% and a negative return on equity of 510.31%. The firm had revenue of $594.19 million during the quarter, compared to analyst estimates of $584.32 million. During the same period in the previous year, the firm posted ($0.16) earnings per share. The company's quarterly revenue was up 20.2% compared to the same quarter last year. Equities 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 the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $304.39, for a total transaction of $9,630,899.60. Following the transaction, the chief executive officer owned 48,948 shares in the company, valued at approximately $14,899,281.72. The trade was a 39.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of large investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. grew its holdings in Alnylam Pharmaceuticals by 33.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 95,796 shares of the biopharmaceutical company's stock valued at $31,238,000 after buying an additional 23,749 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Alnylam Pharmaceuticals by 1.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,242 shares of the biopharmaceutical company's stock worth $2,688,000 after purchasing an additional 87 shares during the period. Wealthfront Advisers LLC lifted its stake in shares of Alnylam Pharmaceuticals by 38.6% during the 2nd quarter. Wealthfront Advisers LLC now owns 12,084 shares of the biopharmaceutical company's stock worth $3,940,000 after purchasing an additional 3,363 shares during the period. Kornitzer Capital Management Inc. KS lifted its stake in shares of Alnylam Pharmaceuticals by 1,058.2% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 23,164 shares of the biopharmaceutical company's stock worth $7,554,000 after purchasing an additional 21,164 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of Alnylam Pharmaceuticals by 0.3% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 43,859 shares of the biopharmaceutical company's stock worth $14,302,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds 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.

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