UBS Group Issues Positive Forecast for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Key Points

• UBS Group has raised its price target for Alnylam Pharmaceuticals from $403.00 to $550.00, indicating a potential upside of 37.93% based on the stock's previous close and maintaining a "buy" rating.
• Several analysts have upgraded their ratings for Alnylam, with Piper Sandler setting a new target of $449.00 and Citigroup raising theirs to $404.00, contributing to a consensus rating of "Moderate Buy."
• Despite reporting a quarterly earnings miss, Alnylam Pharmaceuticals posted a 20.2% year-over-year revenue increase of $594.19 million, compared to analysts' expectations.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price target boosted by UBS Group from $403.00 to $550.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the biopharmaceutical company's stock. UBS Group's price objective would indicate a potential upside of 37.93% from the company's previous close.

Other equities analysts have also issued research reports about the stock. Piper Sandler lifted their price target on shares of Alnylam Pharmaceuticals from $304.00 to $449.00 and gave the company an "overweight" rating in a report on Friday. Bank of America boosted their target price on shares of Alnylam Pharmaceuticals from $336.00 to $359.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Raymond James Financial began coverage on shares of Alnylam Pharmaceuticals in a report on Wednesday. They issued an "outperform" rating and a $370.00 price target for the company. Citigroup boosted their target price on shares of Alnylam Pharmaceuticals from $364.00 to $404.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, Wall Street Zen raised shares of Alnylam Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company's stock. According to MarketBeat, Alnylam Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $387.63.

Alnylam Pharmaceuticals Price Performance

Alnylam Pharmaceuticals stock traded up $6.51 during mid-day trading on Friday, reaching $398.75. The company had a trading volume of 901,049 shares, compared to its average volume of 920,221. Alnylam Pharmaceuticals has a 1 year low of $205.87 and a 1 year high of $402.43. The company has a debt-to-equity ratio of 8.88, a current ratio of 3.04 and a quick ratio of 2.98. The company has a market capitalization of $51.99 billion, a P/E ratio of -190.32 and a beta of 0.23. The stock's 50-day simple moving average is $316.00 and its 200-day simple 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 return on equity of 510.31% and a negative net margin of 11.49%. The business had revenue of $594.19 million for the quarter, compared to analysts' expectations of $584.32 million. During the same period last year, the business earned ($0.16) earnings per share. The company's revenue for the quarter was up 20.2% on a year-over-year basis. On average, equities analysts predict that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insider Activity

In related news, CEO Yvonne Greenstreet sold 19,297 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer owned 48,948 shares in the company, valued at $14,978,088. This trade represents a 28.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. increased its position in Alnylam Pharmaceuticals by 176.9% in the 1st quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 69 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Alnylam Pharmaceuticals during the 1st quarter worth approximately $275,000. GAMMA Investing LLC boosted its stake in Alnylam Pharmaceuticals by 14.3% during the 1st quarter. GAMMA Investing LLC now owns 616 shares of the biopharmaceutical company's stock worth $166,000 after acquiring an additional 77 shares during the last quarter. Brighton Jones LLC bought a new position in Alnylam Pharmaceuticals during the 4th quarter worth approximately $243,000. Finally, Silvercrest Asset Management Group LLC bought a new position in Alnylam Pharmaceuticals during the 4th quarter worth approximately $1,151,000. 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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