Canaccord Genuity Group Boosts Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $390.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price boosted by investment analysts at Canaccord Genuity Group from $385.00 to $390.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 37.85% from the stock’s current price.

A number of other research analysts also recently commented on ALNY. Morgan Stanley upped their price objective on Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Needham & Company LLC restated a “buy” rating and set a $320.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday. JPMorgan Chase & Co. upped their price objective on Alnylam Pharmaceuticals from $272.00 to $280.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 11th. Bank of America upped their price objective on Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Sanford C. Bernstein decreased their price target 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. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $309.83.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY stock traded up $29.38 on Friday, hitting $282.93. 1,981,304 shares of the stock traded hands, compared to its average volume of 797,297. The company has a debt-to-equity ratio of 15.27, a current ratio of 2.78 and a quick ratio of 2.71. The company has a market capitalization of $36.63 billion, a PE ratio of -130.00 and a beta of 0.39. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $304.39. The company’s fifty day moving average is $256.25 and its 200 day moving average is $259.51.

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

Insider Buying and Selling

In other news, Director Phillip A. Sharp sold 11,250 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $275.00, for a total transaction of $3,093,750.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kevin Joseph Fitzgerald sold 663 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $255.21, for a total value of $169,204.23. Following the sale, the executive vice president now directly owns 14,321 shares in the company, valued at $3,654,862.41. The trade was a 4.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,234 shares of company stock valued at $19,958,097. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC boosted its stake in Alnylam Pharmaceuticals by 187.2% in the fourth quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 73 shares in the last quarter. Park Square Financial Group LLC bought a new stake in Alnylam Pharmaceuticals in the fourth quarter valued at about $28,000. R Squared Ltd bought a new stake in Alnylam Pharmaceuticals in the fourth quarter valued at about $33,000. Colonial Trust Co SC acquired a new position in Alnylam Pharmaceuticals in the fourth quarter valued at about $35,000. Finally, True Wealth Design LLC grew its stake in Alnylam Pharmaceuticals by 15,300.0% in the third quarter. True Wealth Design LLC now owns 154 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 153 shares during the period. 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.