Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $342.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) recently received an increase in its price target from Scotiabank, which raised the estimate from $338.00 to $342.00. This adjustment was included in a research report shared with clients and investors this past Monday. Scotiabank has rated the stock as a "sector outperform," indicating a positive outlook for Alnylam's performance in the biopharmaceutical sector. This new price target reflects a potential upside of 29.09% from the current trading price of the company's shares.

Analyst Ratings Overview

In addition to Scotiabank's report, several other analysts have also updated their ratings and price targets for Alnylam Pharmaceuticals. Stifel Nicolaus revised their target from $300.00 to $345.00, maintaining a "buy" rating. Similarly, Royal Bank of Canada raised its target from $310.00 to $330.00, also giving it an "outperform" rating. However, StockNews.com downgraded the stock from a "buy" to a "hold" rating on the same day. Furthermore, Bank of America boosted their target from $302.00 to $325.00 with a "buy" rating. Overall, a research analyst has assigned a sell rating, while five analysts have rated it as a hold, and twenty-one have given it a buy rating. According to data from MarketBeat, the average rating for Alnylam is "Moderate Buy," with a consensus price target of $316.25.

Alnylam Pharmaceuticals Stock Performance

During trading on Monday, shares of Alnylam Pharmaceuticals declined by $3.53, bringing the stock price to $264.93. Approximately 306,755 shares were traded, which is lower than the average volume of 828,383 shares. The company holds a market capitalization of about $34.46 billion, with a price-to-earnings (PE) ratio of -122.14 and a beta of 0.39. Over the past year, the stock has seen a low of $141.98 and a high of $304.39. Its quick ratio stands at 2.71, while the current ratio is at 2.78, reflecting a healthy short-term financial status. The company also reported recently that it had a 50-day simple moving average of $259.86 and a 200-day average of $260.52.

Recent Earnings Results

Alnylam Pharmaceuticals released its earnings results on February 13. The company reported an earnings per share (EPS) of ($0.65), which was slightly lower than the consensus estimate of ($0.62) by $0.03. Analysts predict that the company will record an EPS of -1.7 for the current year.

Insider Activity and Transactions

In the realm of insider trading, Pushkal Garg, the Chief Marketing Officer, sold 1,548 shares on February 18, 2023, at an average price of $251.67, totaling approximately $389,585.16. This sale decreased his holdings by about 11.44%. Post-transaction, he owns around 11,989 shares valued at about $3 million. Additionally, Phillip A. Sharp, a director at the company, sold 11,250 shares on January 23 at an average price of $275.00, amounting to $3,093,750.00. In total, insiders have sold 71,234 shares worth nearly $20 million in the last quarter.

Institutional Holdings

Recent changes among institutional investors show significant trading activity. Regeneron Pharmaceuticals acquired a new stake valued at approximately $1.04 billion in the fourth quarter. Meanwhile, Norges Bank invested in Alnylam Pharmaceuticals, acquiring a stake around $577.94 million. Capital Research Global Investors increased its position by 32.9%, now holding over 6.97 million shares worth around $1.64 billion. T. Rowe Price Investment Management raised its holdings by 39.7%, bringing their total to 4.38 million shares valued at more than $1 billion. Collectively, institutional investors own about 92.97% of Alnylam's shares.

Company Overview

Alnylam Pharmaceuticals specializes in the discovery, development, and commercialization of innovative therapeutics based on ribonucleic acid interference (RNAi). Their marketed products include ONPATTRO (patisiran), aimed at treating hereditary transthyretin-mediated amyloidosis, AMVUTTRA for hATTR amyloidosis, GIVLAARI for acute hepatic porphyria, and OXLUMO for primary hyperoxaluria type 1.

Alnylam, Pharmaceuticals, Stocks