Alnylam Pharmaceuticals (NASDAQ:ALNY) Earns “Buy” Rating from Needham & Company LLC

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a report released on Friday,Benzinga reports. They currently have a $320.00 price target on the biopharmaceutical company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 24.78% from the company’s previous close.

A number of other brokerages have also commented on ALNY. Raymond James increased their price target on Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Piper Sandler reiterated an “overweight” rating and set a $296.00 target price on shares of Alnylam Pharmaceuticals in a research report on Monday, November 18th. HC Wainwright restated a “buy” rating and issued a $400.00 price target on shares of Alnylam Pharmaceuticals in a research report on Monday, January 13th. Sanford C. Bernstein lowered their price objective on shares of Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Finally, TD Cowen boosted their target price on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a “buy” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $299.43.

Alnylam Pharmaceuticals Trading Down 3.2 %

ALNY stock opened at $256.45 on Friday. The company has a market capitalization of $33.08 billion, a price-to-earnings ratio of -97.88 and a beta of 0.35. The company has a debt-to-equity ratio of 31.64, a current ratio of 2.75 and a quick ratio of 2.69. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $304.39. The business has a 50 day simple moving average of $254.03 and a two-hundred day simple moving average of $263.35.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.03). Research analysts anticipate that Alnylam Pharmaceuticals will post -2.24 EPS for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, Director Phillip A. Sharp sold 11,250 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $275.00, for a total transaction of $3,093,750.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Yvonne Greenstreet sold 5,219 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 78,880 shares in the company, valued at approximately $19,797,302.40. This represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,964 shares of company stock worth $20,622,925. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Allworth Financial LP grew its stake in Alnylam Pharmaceuticals by 6.8% in the fourth quarter. Allworth Financial LP now owns 597 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 38 shares during the last quarter. Nixon Peabody Trust Co. boosted its stake in Alnylam Pharmaceuticals by 1.9% in the 4th quarter. Nixon Peabody Trust Co. now owns 2,293 shares of the biopharmaceutical company’s stock worth $540,000 after purchasing an additional 43 shares in the last quarter. Huntington National Bank grew its position in Alnylam Pharmaceuticals by 91.8% during the 3rd 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 last quarter. IFP Advisors Inc increased its stake in Alnylam Pharmaceuticals by 24.2% during the 4th quarter. IFP Advisors Inc now owns 241 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 47 shares in the last quarter. Finally, Nwam LLC raised its holdings in shares of Alnylam Pharmaceuticals by 5.8% in the fourth quarter. Nwam LLC now owns 906 shares of the biopharmaceutical company’s stock worth $213,000 after buying an additional 50 shares during the last quarter. 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.