Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $310.00 Price Target at Sanford C. Bernstein

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective reduced by stock analysts at Sanford C. Bernstein from $314.00 to $310.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Sanford C. Bernstein’s price objective indicates a potential upside of 31.64% from the company’s previous close.

Several other brokerages have also recently issued reports on ALNY. Wolfe Research cut Alnylam Pharmaceuticals from a “peer perform” rating to an “underperform” rating in a report on Tuesday, November 12th. Cantor Fitzgerald restated a “neutral” rating and set a $220.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, October 11th. Bank of America increased their price target on shares of Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Barclays raised their price target on Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Piper Sandler restated an “overweight” rating and issued a $296.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $298.61.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ ALNY traded up $2.34 during trading on Tuesday, hitting $235.49. 171,273 shares of the company were exchanged, compared to its average volume of 381,781. The firm’s fifty day moving average price is $251.91 and its 200 day moving average price is $259.18. The company has a debt-to-equity ratio of 31.64, a current ratio of 2.75 and a quick ratio of 2.69. The company has a market cap of $30.37 billion, a price-to-earnings ratio of -89.88 and a beta of 0.34. Alnylam Pharmaceuticals has a 1 year low of $141.98 and a 1 year high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.36). The business had revenue of $500.90 million for the quarter, compared to the consensus estimate of $532.91 million. During the same quarter in the prior year, the firm earned $1.15 EPS. The company’s revenue for the quarter was down 33.3% compared to the same quarter last year. On average, sell-side analysts expect that Alnylam Pharmaceuticals will post -2.21 earnings per share for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CMO Pushkal Garg sold 1,752 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $251.00, for a total transaction of $439,752.00. Following the completion of the transaction, the chief marketing officer now directly owns 15,705 shares of the company’s stock, valued at $3,941,955. The trade was a 10.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Tolga Tanguler sold 1,469 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total transaction of $368,689.62. Following the completion of the sale, the executive vice president now owns 13,191 shares in the company, valued at $3,310,677.18. The trade was a 10.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,122 shares of company stock worth $2,540,455 in the last 90 days. 1.50% of the stock is currently owned by company insiders.

Institutional Trading of Alnylam Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Alnylam Pharmaceuticals by 54.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 259 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 91 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Alnylam Pharmaceuticals by 2.8% during the second quarter. Commonwealth Equity Services LLC now owns 5,752 shares of the biopharmaceutical company’s stock valued at $1,398,000 after acquiring an additional 158 shares during the period. Acadian Asset Management LLC raised its holdings in Alnylam Pharmaceuticals by 2,148.9% during the second quarter. Acadian Asset Management LLC now owns 37,310 shares of the biopharmaceutical company’s stock worth $9,062,000 after purchasing an additional 35,651 shares in the last quarter. Ballentine Partners LLC acquired a new stake in Alnylam Pharmaceuticals in the second quarter worth approximately $338,000. Finally, HCR Wealth Advisors bought a new position in Alnylam Pharmaceuticals during the 2nd quarter valued at $225,000. 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.