Bank of America Forecasts Strong Price Appreciation for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price boosted by investment analysts at Bank of America from $302.00 to $325.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s target price points to a potential upside of 28.15% from the company’s previous close.

ALNY has been the subject of several other research reports. JPMorgan Chase & Co. raised their price objective on shares of Alnylam Pharmaceuticals from $272.00 to $280.00 and gave the stock a “neutral” rating in a report on Tuesday, March 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $310.00 price target on shares of Alnylam Pharmaceuticals in a report on Wednesday, February 26th. Canaccord Genuity Group boosted their price objective on Alnylam Pharmaceuticals from $384.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Sanford C. Bernstein lowered their target price on Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $300.00 price target on shares of Alnylam Pharmaceuticals in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $304.74.

Alnylam Pharmaceuticals Price Performance

NASDAQ:ALNY opened at $253.60 on Friday. The company has a debt-to-equity ratio of 15.27, a quick ratio of 2.71 and a current ratio of 2.78. The company has a 50-day moving average of $256.25 and a 200-day moving average of $259.51. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $304.39. The company has a market capitalization of $32.83 billion, a price-to-earnings ratio of -116.87 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.03). As a group, equities research analysts anticipate that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In other news, Director Phillip A. Sharp sold 11,250 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $275.00, for a total value of $3,093,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Pushkal Garg sold 52,592 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $285.00, for a total value of $14,988,720.00. Following the sale, the chief marketing officer now directly owns 11,989 shares in the company, valued at $3,416,865. The trade was a 81.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,234 shares of company stock worth $19,958,097. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of hedge funds have recently modified their holdings of ALNY. Allworth Financial LP grew its position in shares of Alnylam Pharmaceuticals by 6.8% in the 4th quarter. Allworth Financial LP now owns 597 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 38 shares during the period. Investment Management Corp of Ontario boosted its holdings in shares of Alnylam Pharmaceuticals by 0.6% in the fourth quarter. Investment Management Corp of Ontario now owns 7,099 shares of the biopharmaceutical company’s stock valued at $1,670,000 after buying an additional 40 shares during the period. Nixon Peabody Trust Co. increased its position in shares of Alnylam Pharmaceuticals by 1.9% during the fourth quarter. Nixon Peabody Trust Co. now owns 2,293 shares of the biopharmaceutical company’s stock worth $540,000 after acquiring an additional 43 shares in the last quarter. Brevan Howard Capital Management LP raised its holdings in shares of Alnylam Pharmaceuticals by 3.4% during 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 during the period. Finally, IFP Advisors Inc lifted its position in Alnylam Pharmaceuticals by 24.2% in the 4th quarter. IFP Advisors Inc now owns 241 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 47 shares in the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

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.