Alnylam Pharmaceuticals’ (ALNY) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a report issued on Monday,Benzinga reports. They currently have a $320.00 target price on the biopharmaceutical company’s stock.

Several other research firms have also weighed in on ALNY. TD Cowen upped their price objective on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Raymond James increased their price target on shares of Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Sanford C. Bernstein lowered their price objective on Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $220.00 target price on shares of Alnylam Pharmaceuticals in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $298.61.

Alnylam Pharmaceuticals Trading Up 8.5 %

Shares of ALNY opened at $258.27 on Monday. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $304.39. The business’s 50-day moving average price is $248.88 and its 200 day moving average price is $259.75. The stock has a market capitalization of $33.31 billion, a P/E ratio of -98.58 and a beta of 0.34. 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 (NASDAQ:ALNY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.36). The company had revenue of $500.90 million for the quarter, compared to analysts’ expectations of $532.91 million. The business’s revenue for the quarter was down 33.3% on a year-over-year basis. During the same period last year, the company earned $1.15 earnings per share. Analysts expect that Alnylam Pharmaceuticals will post -2.21 earnings per share for the current year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 5,219 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total value of $1,309,864.62. Following the transaction, the chief executive officer now owns 78,880 shares of the company’s stock, valued at approximately $19,797,302.40. The trade was a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Pushkal Garg sold 1,752 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $251.00, for a total value of $439,752.00. Following the transaction, the chief marketing officer now owns 15,705 shares of the company’s stock, valued at approximately $3,941,955. This trade represents a 10.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,122 shares of company stock worth $2,540,455. 1.50% of the stock is owned by insiders.

Institutional Trading of Alnylam Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Alnylam Pharmaceuticals in the second quarter valued at approximately $26,000. Huntington National Bank boosted its position in Alnylam Pharmaceuticals by 91.8% during the third quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 45 shares during the period. Hollencrest Capital Management acquired a new position in shares of Alnylam Pharmaceuticals in the third quarter valued at $29,000. Washington Trust Advisors Inc. bought a new position in shares of Alnylam Pharmaceuticals in the third quarter valued at about $42,000. Finally, True Wealth Design LLC lifted its stake in shares of Alnylam Pharmaceuticals by 15,300.0% during the 3rd quarter. True Wealth Design LLC now owns 154 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 153 shares during the last quarter. Institutional investors own 92.97% of the company’s stock.

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.