Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price Expected to Rise, Bank of America Analyst Says

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

A number of other research firms have also issued reports on ALNY. Royal Bank of Canada restated an “outperform” rating and set a $310.00 price target on shares of Alnylam Pharmaceuticals in a report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their target price on shares of Alnylam Pharmaceuticals from $272.00 to $280.00 and gave the company a “neutral” rating in a research note on Tuesday, March 11th. Sanford C. Bernstein lowered their price target on Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. HC Wainwright raised their price objective on Alnylam Pharmaceuticals from $400.00 to $500.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Finally, William Blair reiterated an “outperform” rating on shares of Alnylam Pharmaceuticals in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $304.74.

Alnylam Pharmaceuticals Stock Performance

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

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). As a group, sell-side analysts forecast that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Phillip A. Sharp sold 11,250 shares of Alnylam Pharmaceuticals 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 filing with the SEC, which is available at the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 1,440 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $251.56, for a total value of $362,246.40. Following the completion of the sale, the executive vice president now directly owns 12,881 shares in the company, valued at approximately $3,240,344.36. This represents a 10.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,234 shares of company stock valued at $19,958,097 over the last 90 days. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Regeneron Pharmaceuticals Inc. bought a new position in Alnylam Pharmaceuticals during the fourth quarter worth $1,045,822,000. Norges Bank bought a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter valued at about $577,941,000. Capital Research Global Investors lifted its stake in shares of Alnylam Pharmaceuticals by 32.9% in the fourth quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company’s stock valued at $1,639,767,000 after buying an additional 1,724,610 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Alnylam Pharmaceuticals by 39.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company’s stock worth $1,031,705,000 after buying an additional 1,245,195 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in Alnylam Pharmaceuticals by 496.6% during the fourth quarter. Marshall Wace LLP now owns 378,649 shares of the biopharmaceutical company’s stock valued at $89,100,000 after acquiring an additional 315,182 shares during the period. 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.