Wells Fargo & Company Issues Positive Forecast for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Key Points

• Wells Fargo & Company has raised its price target for Alnylam Pharmaceuticals to $395.00, reflecting a moderate buy outlook amid a potential downside of 0.35% from the stock's current price.
• Multiple analysts have issued higher price targets for Alnylam, with estimates ranging from $385.00 to $478.00, contributing to a consensus average target of $378.21.
• Alnylam Pharmaceuticals reported a 20.2% year-over-year revenue increase with revenues of $594.19 million, although it missed earnings per share estimates by $0.07, posting an EPS of ($0.44).

Alnylam Pharmaceuticals (NASDAQ:ALNY - Free Report) had its target price lifted by Wells Fargo & Company from $333.00 to $395.00 in a research note released on Friday,Benzinga reports. They currently have an equal weight rating on the biopharmaceutical company's stock.

ALNY has been the topic of several other research reports. Truist Financial initiated coverage on Alnylam Pharmaceuticals in a research report on Monday, July 21st. They set a "buy" rating and a $385.00 target price on the stock. Citigroup upped their price target on shares of Alnylam Pharmaceuticals from $364.00 to $404.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Barclays boosted their price objective on shares of Alnylam Pharmaceuticals from $329.00 to $460.00 and gave the stock an "overweight" rating in a report on Friday. 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 research report on Friday. Finally, Wall Street Zen raised Alnylam Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $392.13.

Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ:ALNY traded up $9.56 during trading on Friday, reaching $401.80. The company had a trading volume of 1,780,984 shares, compared to its average volume of 1,028,799. Alnylam Pharmaceuticals has a fifty-two week low of $205.87 and a fifty-two week 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 stock's fifty day moving average price is $318.24 and its 200 day moving average price is $278.80. The firm has a market capitalization of $52.39 billion, a price-to-earnings ratio of -162.67 and a beta of 0.25.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.07). The firm had revenue of $594.19 million during the quarter, compared to analysts' expectations of $584.32 million. Alnylam Pharmaceuticals had a negative net margin of 12.96% and a negative return on equity of 444.38%. The firm's revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.16) EPS. As a group, equities research analysts predict that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Yvonne Greenstreet sold 31,640 shares of the business's stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 48,948 shares of the company's stock, valued at $14,899,281.72. The trade was a 39.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALNY. Bayforest Capital Ltd increased its position in 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 purchasing an additional 39 shares in the last quarter. Investment Management Corp of Ontario grew its stake in Alnylam Pharmaceuticals by 0.6% during the fourth quarter. Investment Management Corp of Ontario now owns 7,099 shares of the biopharmaceutical company's stock worth $1,670,000 after buying an additional 40 shares during the period. Brevan Howard Capital Management LP increased its position in shares of Alnylam Pharmaceuticals by 3.4% in the fourth 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 in the last quarter. Fulton Bank N.A. raised its stake in shares of Alnylam Pharmaceuticals by 3.3% in the 2nd quarter. Fulton Bank N.A. now owns 1,421 shares of the biopharmaceutical company's stock valued at $463,000 after acquiring an additional 46 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Alnylam Pharmaceuticals by 10.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 525 shares of the biopharmaceutical company's stock valued at $142,000 after acquiring an additional 49 shares in the last quarter. 92.97% of the stock is currently 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.