Alnylam Pharmaceuticals (NASDAQ:ALNY) Shares Gap Up Following Analyst Upgrade

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) gapped up before the market opened on Friday after Scotiabank raised their price target on the stock from $300.00 to $338.00. The stock had previously closed at $253.55, but opened at $261.82. Scotiabank currently has a sector outperform rating on the stock. Alnylam Pharmaceuticals shares last traded at $274.34, with a volume of 692,627 shares trading hands.

A number of other brokerages also recently issued reports on ALNY. HC Wainwright increased their price target on shares of Alnylam Pharmaceuticals from $400.00 to $500.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Bank of America increased their price target on shares of Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the stock a “buy” rating in a report on Friday. StockNews.com downgraded shares of Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday. Sanford C. Bernstein lowered their price target on shares of Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. increased their price target 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, Alnylam Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $308.74.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, Director Phillip A. Sharp sold 11,250 shares of the stock in a transaction dated Thursday, January 23rd. The shares were 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Pushkal Garg sold 52,592 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $285.00, for a total transaction of $14,988,720.00. Following the transaction, the chief marketing officer now directly owns 11,989 shares of the company’s stock, valued at approximately $3,416,865. This trade represents a 81.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,234 shares of company stock worth $19,958,097. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ALNY. Larson Financial Group LLC boosted its stake in Alnylam Pharmaceuticals by 187.2% during the fourth quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 73 shares during the period. Park Square Financial Group LLC purchased a new position in Alnylam Pharmaceuticals during the fourth quarter worth about $28,000. R Squared Ltd purchased a new position in shares of Alnylam Pharmaceuticals in the fourth quarter valued at approximately $33,000. OFI Invest Asset Management purchased a new position in shares of Alnylam Pharmaceuticals in the fourth quarter valued at approximately $35,000. Finally, Colonial Trust Co SC purchased a new position in shares of Alnylam Pharmaceuticals in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Trading Up 10.3 %

The company’s 50 day moving average price is $256.25 and its 200 day moving average price is $259.51. 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 firm has a market cap of $36.21 billion, a PE ratio of -128.75 and a beta of 0.39.

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

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.