Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) have received a consensus recommendation of “Moderate Buy” from analysts who currently cover the stock, according to Marketbeat. Among the twenty-seven analysts assessing the company, five have assigned a hold recommendation, while twenty-two have endorsed a buy. The average 12-month target price stands at approximately $490.96, reflecting a favorable outlook for the biopharmaceutical firm.
Recent analyst reports have provided further insights into the stock. On November 10, 2023, Wall Street Zen upgraded Alnylam from a “buy” to a “strong-buy” rating. Meanwhile, Morgan Stanley raised its target price from $405.00 to $475.00 and categorized the stock as “equal weight” in a report dated October 6, 2023. Raymond James Financial reiterated an “outperform” rating with a target price of $472.00 on January 12, 2023. Notably, HC Wainwright set an ambitious price objective of $570.00 while maintaining a buy rating on November 4, 2023. Conversely, JPMorgan Chase & Co. adjusted its price target slightly downwards from $475.00 to $473.00, assigning the stock an “overweight” rating on October 13, 2023.
Institutional Investments in Alnylam Pharmaceuticals
Recent movements in institutional investment have also attracted attention. Vanguard Group Inc. increased its stake in Alnylam Pharmaceuticals by 2.0% during the third quarter of 2023, now holding 13,565,452 shares valued at approximately $6.19 billion. Similarly, Capital Research Global Investors grew its position by 0.4%, owning 7,222,840 shares worth around $3.29 billion.
In a significant shift, Groupama Asset Management boosted its holdings by 160.4%, acquiring an additional 2,483,697 shares. This brings their total to 4,032,082 shares valued at approximately $18.61 million. Geode Capital Management LLC and Orbis Allan Gray Ltd also increased their stakes by 3.3% and 29.8%, respectively, further highlighting the growing institutional interest in Alnylam.
Currently, institutional investors and hedge funds collectively own approximately 92.97% of Alnylam’s stock, underscoring a robust confidence in the company’s future.
Stock Performance Overview
As of Thursday, shares of ALNY opened at $359.27. The stock has experienced a year low of $205.87 and a year high of $495.55. The company boasts a market capitalization of $47.46 billion and has a price-to-earnings ratio of 1,496.96. Alnylam Pharmaceuticals maintains a debt-to-equity ratio of 4.45, a quick ratio of 2.49, and a current ratio of 2.54. Its 50-day simple moving average is $417.09, while the 200-day average sits at $422.89.
Alnylam Pharmaceuticals is a biopharmaceutical company dedicated to the discovery, development, and commercialization of RNA interference (RNAi) therapeutics. Founded to translate RNAi scientific discoveries into medicines, Alnylam utilizes small interfering RNA (siRNA) technology to target and silence disease-causing genes. The company has successfully advanced several siRNA-based products into commercialization, focusing on delivering durable disease modification through innovative treatments.
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