Piper Sandler Reiterates “Overweight” Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “overweight” rating reiterated by analysts at Piper Sandler in a research report issued on Monday,Benzinga reports. They presently have a $296.00 price target on the biopharmaceutical company’s stock. Piper Sandler’s price target indicates a potential upside of 26.35% from the stock’s current price.

ALNY has been the topic of a number of other research reports. The Goldman Sachs Group upgraded Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $198.00 to $370.00 in a report on Friday, August 16th. Chardan Capital reiterated a “buy” rating and issued a $300.00 price objective on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. Wells Fargo & Company raised their target price on Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. TD Cowen upped their price target on Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Scotiabank increased their price objective on Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $298.09.

Alnylam Pharmaceuticals Stock Up 0.9 %

Shares of Alnylam Pharmaceuticals stock opened at $234.27 on Monday. The company has a current ratio of 2.75, a quick ratio of 2.69 and a debt-to-equity ratio of 31.64. Alnylam Pharmaceuticals has a 1 year low of $141.98 and a 1 year high of $304.39. The stock has a 50-day moving average price of $274.10 and a 200 day moving average price of $236.68. The company has a market cap of $30.22 billion, a P/E ratio of -89.42 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.36). The firm had revenue of $500.90 million for the quarter, compared to analyst estimates of $532.91 million. During the same quarter in the prior year, the company posted $1.15 EPS. The firm’s quarterly revenue was down 33.3% compared to the same quarter last year. As a group, analysts expect that Alnylam Pharmaceuticals will post -2.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its position in shares of Alnylam Pharmaceuticals by 572.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 143 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Alnylam Pharmaceuticals during the 2nd quarter worth $26,000. Huntington National Bank boosted its position in Alnylam Pharmaceuticals by 91.8% in the 3rd quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 45 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at $29,000. Finally, Altitude Crest Partners Inc. bought a new stake in shares of Alnylam Pharmaceuticals during the first quarter worth $30,000. 92.97% of the stock is owned by institutional investors.

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.