HC Wainwright Reaffirms “Buy” Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They currently have a $400.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 66.31% from the stock’s previous close.

Other analysts have also issued reports about the company. Chardan Capital reaffirmed a “buy” rating and issued a $300.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, November 1st. William Blair reaffirmed an “outperform” rating on shares of Alnylam Pharmaceuticals in a report on Tuesday, November 19th. Barclays raised their price target on shares of Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Raymond James boosted their price target on shares of Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $300.00 price objective on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $298.61.

Alnylam Pharmaceuticals Trading Down 6.9 %

Shares of Alnylam Pharmaceuticals stock opened at $240.51 on Monday. The firm has a 50-day simple moving average of $248.64 and a two-hundred day simple moving average of $259.83. The company has a debt-to-equity ratio of 31.64, a quick ratio of 2.69 and a current ratio of 2.75. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $304.39. The company has a market cap of $31.02 billion, a P/E ratio of -91.80 and a beta of 0.34.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.36). The business had revenue of $500.90 million for the quarter, compared to the consensus estimate of $532.91 million. The business’s revenue for the quarter was down 33.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.15 EPS. As a group, equities analysts predict that Alnylam Pharmaceuticals will post -2.21 earnings per share for the current fiscal year.

Insider Transactions at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CMO Pushkal Garg sold 1,752 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $251.00, for a total transaction of $439,752.00. Following the completion of the transaction, the chief marketing officer now owns 15,705 shares in the company, valued at $3,941,955. The trade was a 10.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Yvonne Greenstreet sold 5,219 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total transaction of $1,309,864.62. Following the completion of the sale, the chief executive officer now owns 78,880 shares in the company, valued at $19,797,302.40. The trade was a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,122 shares of company stock valued at $2,540,455. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several large investors have recently bought and sold shares of the business. Eventide Asset Management LLC increased its holdings in shares of Alnylam Pharmaceuticals by 157.9% in the 3rd quarter. Eventide Asset Management LLC now owns 224,333 shares of the biopharmaceutical company’s stock valued at $61,698,000 after acquiring an additional 137,333 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in Alnylam Pharmaceuticals by 11,433.4% in the third quarter. Los Angeles Capital Management LLC now owns 137,017 shares of the biopharmaceutical company’s stock valued at $37,684,000 after purchasing an additional 135,829 shares during the last quarter. AQR Capital Management LLC increased its stake in Alnylam Pharmaceuticals by 92.5% in the second quarter. AQR Capital Management LLC now owns 271,619 shares of the biopharmaceutical company’s stock valued at $65,862,000 after purchasing an additional 130,482 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in Alnylam Pharmaceuticals during the second quarter worth approximately $29,111,000. Finally, Avoro Capital Advisors LLC lifted its position in shares of Alnylam Pharmaceuticals by 33.3% during the 2nd quarter. Avoro Capital Advisors LLC now owns 400,000 shares of the biopharmaceutical company’s stock worth $97,200,000 after buying an additional 100,000 shares during the last quarter. Hedge funds and other 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.