Alnylam Pharmaceuticals (NASDAQ:ALNY) Rating Reiterated by HC Wainwright

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a note issued to investors on Friday, Marketbeat Ratings reports. They currently have a $400.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target suggests a potential upside of 35.17% from the stock’s current price.

Other analysts have also recently issued reports about the company. Bank of America increased their price target on Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Chardan Capital reiterated a “buy” rating and issued a $300.00 target price on shares of Alnylam Pharmaceuticals in a research note on Friday, October 11th. The Goldman Sachs Group upgraded shares of Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price target for the stock from $198.00 to $370.00 in a research report on Friday, August 16th. Scotiabank started coverage on shares of Alnylam Pharmaceuticals in a research report on Wednesday. They issued a “sector outperform” rating and a $305.00 price objective on the stock. Finally, Canaccord Genuity Group upped their target price on shares of Alnylam Pharmaceuticals from $357.00 to $366.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $286.82.

Alnylam Pharmaceuticals Price Performance

ALNY stock opened at $295.93 on Friday. The firm has a market cap of $37.43 billion, a price-to-earnings ratio of -110.42 and a beta of 0.39. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $304.39. The firm has a fifty day moving average price of $271.82 and a two-hundred day moving average price of $216.59.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.61. The business had revenue of $659.83 million for the quarter, compared to the consensus estimate of $447.22 million. Alnylam Pharmaceuticals’s quarterly revenue was up 107.0% on a year-over-year basis. During the same period in the prior year, the company earned ($2.21) EPS. As a group, analysts expect that Alnylam Pharmaceuticals will post -2.73 EPS for the current fiscal year.

Insider Transactions at Alnylam Pharmaceuticals

In related news, CEO Yvonne Greenstreet sold 15,148 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $270.00, for a total transaction of $4,089,960.00. Following the completion of the sale, the chief executive officer now directly owns 73,441 shares of the company’s stock, valued at $19,829,070. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Yvonne Greenstreet sold 15,148 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $270.00, for a total transaction of $4,089,960.00. Following the completion of the sale, the chief executive officer now directly owns 73,441 shares of the company’s stock, valued at $19,829,070. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dennis A. Ausiello sold 20,250 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $262.00, for a total value of $5,305,500.00. Following the completion of the transaction, the director now owns 136 shares of the company’s stock, valued at $35,632. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,398 shares of company stock valued at $13,595,460 in the last quarter. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Capital Research Global Investors raised its stake in Alnylam Pharmaceuticals by 7.3% during the 1st quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock valued at $470,018,000 after purchasing an additional 214,908 shares during the period. Price T Rowe Associates Inc. MD raised its position in Alnylam Pharmaceuticals by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock valued at $550,837,000 after buying an additional 201,784 shares during the period. AQR Capital Management LLC lifted its stake in Alnylam Pharmaceuticals by 92.5% in the 2nd quarter. AQR Capital Management LLC now owns 271,619 shares of the biopharmaceutical company’s stock worth $65,862,000 after acquiring an additional 130,482 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Alnylam Pharmaceuticals during the 1st quarter worth about $18,886,000. Finally, Deerfield Management Company L.P. Series C purchased a new position in Alnylam Pharmaceuticals during the 2nd quarter valued at about $29,111,000. Hedge funds and other institutional investors own 92.97% of the company’s stock.

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.