Canaccord Genuity Group Forecasts Strong Price Appreciation for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price hoisted by equities researchers at Canaccord Genuity Group from $415.00 to $429.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 29.59% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. Chardan Capital cut their target price on shares of Alnylam Pharmaceuticals from $475.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday. Barclays initiated coverage on shares of Alnylam Pharmaceuticals in a report on Wednesday, January 28th. They set an “overweight” rating and a $527.00 price target on the stock. Wall Street Zen downgraded Alnylam Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday. Raymond James Financial reaffirmed an “outperform” rating and set a $472.00 target price on shares of Alnylam Pharmaceuticals in a report on Monday, January 12th. Finally, Weiss Ratings upgraded Alnylam Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, January 15th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $477.96.

Alnylam Pharmaceuticals Trading Up 5.3%

NASDAQ ALNY opened at $331.04 on Tuesday. The company has a market cap of $43.90 billion, a price-to-earnings ratio of 192.47 and a beta of 0.35. Alnylam Pharmaceuticals has a twelve month low of $205.87 and a twelve month high of $495.55. The company has a quick ratio of 2.71, a current ratio of 2.76 and a debt-to-equity ratio of 1.28. The business’s fifty day moving average is $372.67 and its 200 day moving average is $424.73.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, February 12th. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.61). Alnylam Pharmaceuticals had a return on equity of 69.02% and a net margin of 6.43%.The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company earned ($0.65) EPS. Alnylam Pharmaceuticals’s revenue for the quarter was up 84.9% on a year-over-year basis. As a group, sell-side analysts expect that Alnylam Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insider Activity

In other news, EVP Tolga Tanguler sold 1,510 shares of the firm’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $362.87, for a total value of $547,933.70. Following the completion of the sale, the executive vice president directly owned 29,728 shares in the company, valued at $10,787,399.36. This trade represents a 4.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kevin Joseph Fitzgerald sold 2,290 shares of the business’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $370.33, for a total value of $848,055.70. Following the completion of the sale, the executive vice president directly owned 21,264 shares of the company’s stock, valued at $7,874,697.12. The trade was a 9.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 19,177 shares of company stock valued at $6,975,746. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of large investors have recently modified their holdings of ALNY. Captrust Financial Advisors lifted its stake in shares of Alnylam Pharmaceuticals by 72.8% in the fourth quarter. Captrust Financial Advisors now owns 13,255 shares of the biopharmaceutical company’s stock valued at $5,271,000 after buying an additional 5,586 shares in the last quarter. Titan Wealth CI Ltd bought a new position in Alnylam Pharmaceuticals in the 4th quarter valued at about $42,000. Royal Bank of Canada boosted its stake in Alnylam Pharmaceuticals by 35.4% during the 4th quarter. Royal Bank of Canada now owns 591,495 shares of the biopharmaceutical company’s stock valued at $235,207,000 after purchasing an additional 154,737 shares during the last quarter. Rothschild Wealth LLC acquired a new position in Alnylam Pharmaceuticals during the 4th quarter valued at about $418,000. Finally, L2 Asset Management LLC increased its holdings in Alnylam Pharmaceuticals by 9.8% during the 4th quarter. L2 Asset Management LLC now owns 671 shares of the biopharmaceutical company’s stock worth $267,000 after purchasing an additional 60 shares in the last quarter. 92.97% of the stock is currently owned by institutional investors.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc (NASDAQ: ALNY) is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.