Alnylam Pharmaceuticals’ (ALNY) Buy Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $283.00 price objective on the biopharmaceutical company’s stock.

ALNY has been the topic of a number of other reports. William Blair reaffirmed an outperform rating on shares of Alnylam Pharmaceuticals in a research note on Monday, April 8th. HC Wainwright upped their target price on shares of Alnylam Pharmaceuticals from $395.00 to $400.00 and gave the stock a buy rating in a research report on Tuesday, May 7th. Needham & Company LLC reiterated a buy rating and set a $200.00 price target on shares of Alnylam Pharmaceuticals in a research report on Thursday, May 2nd. StockNews.com upgraded Alnylam Pharmaceuticals from a hold rating to a buy rating in a report on Monday, April 29th. Finally, Chardan Capital reaffirmed a buy rating and issued a $225.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday, May 3rd. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $220.12.

Alnylam Pharmaceuticals Stock Up 5.3 %

Shares of NASDAQ:ALNY opened at $165.70 on Friday. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $218.88. The company has a 50-day moving average price of $150.49 and a 200 day moving average price of $162.41. The company has a market cap of $20.96 billion, a P/E ratio of -61.83 and a beta of 0.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.23. The business had revenue of $494.33 million during the quarter, compared to analyst estimates of $428.01 million. During the same period in the prior year, the business earned ($1.40) earnings per share. The firm’s quarterly revenue was up 54.8% compared to the same quarter last year. Analysts expect that Alnylam Pharmaceuticals will post -3.77 EPS for the current year.

Insider Activity

In other Alnylam Pharmaceuticals news, Director Amy W. Schulman sold 21,700 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $148.60, for a total value of $3,224,620.00. Following the completion of the sale, the director now directly owns 8,436 shares of the company’s stock, valued at approximately $1,253,589.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. lifted its holdings in shares of Alnylam Pharmaceuticals by 1.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 2,938 shares of the biopharmaceutical company’s stock worth $562,000 after acquiring an additional 51 shares during the period. EP Wealth Advisors LLC boosted its holdings in shares of Alnylam Pharmaceuticals by 6.4% in the 3rd quarter. EP Wealth Advisors LLC now owns 1,177 shares of the biopharmaceutical company’s stock valued at $208,000 after purchasing an additional 71 shares during the last quarter. Commerce Bank grew its stake in shares of Alnylam Pharmaceuticals by 1.7% during the 4th quarter. Commerce Bank now owns 4,683 shares of the biopharmaceutical company’s stock valued at $896,000 after buying an additional 77 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Alnylam Pharmaceuticals by 7.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,368 shares of the biopharmaceutical company’s stock worth $262,000 after buying an additional 89 shares during the last quarter. Finally, Metis Global Partners LLC raised its position in shares of Alnylam Pharmaceuticals by 2.2% in the 4th quarter. Metis Global Partners LLC now owns 4,382 shares of the biopharmaceutical company’s stock worth $839,000 after buying an additional 94 shares during the period. 92.97% of the stock is owned by institutional investors and hedge funds.

Alnylam Pharmaceuticals Company Profile

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.