Alnylam Pharmaceuticals (NASDAQ:ALNY) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) from a hold rating to a buy rating in a research report released on Monday morning.

Several other equities analysts also recently weighed in on ALNY. Cantor Fitzgerald reissued a neutral rating and set a $165.00 target price on shares of Alnylam Pharmaceuticals in a research report on Tuesday, February 20th. Wells Fargo & Company cut their price objective on Alnylam Pharmaceuticals from $171.00 to $161.00 and set an equal weight rating on the stock in a research report on Friday, February 16th. Wolfe Research initiated coverage on Alnylam Pharmaceuticals in a research report on Thursday, February 15th. They issued a peer perform rating on the stock. Needham & Company LLC reaffirmed a buy rating and issued a $200.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Thursday, February 15th. Finally, BMO Capital Markets reissued an outperform rating and set a $234.00 price target on shares of Alnylam Pharmaceuticals in a research report on Wednesday, March 27th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Alnylam Pharmaceuticals currently has an average rating of Moderate Buy and an average target price of $215.88.

Alnylam Pharmaceuticals Stock Up 4.2 %

Shares of ALNY opened at $149.96 on Monday. Alnylam Pharmaceuticals has a 1 year low of $141.98 and a 1 year high of $218.88. The business’s 50 day simple moving average is $150.11 and its 200-day simple moving average is $165.46.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.10) earnings per share for the quarter, beating the consensus estimate of ($1.20) by $0.10. The company had revenue of $439.72 million for the quarter, compared to the consensus estimate of $439.38 million. The business’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.68) EPS. Research analysts predict that Alnylam Pharmaceuticals will post -4.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of hedge funds have recently made changes to their positions in ALNY. Norges Bank purchased a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter worth $390,438,000. Capital International Investors raised its stake in Alnylam Pharmaceuticals by 15.8% in the fourth quarter. Capital International Investors now owns 3,586,657 shares of the biopharmaceutical company’s stock valued at $686,641,000 after buying an additional 488,814 shares during the last quarter. Wellington Management Group LLP raised its stake in Alnylam Pharmaceuticals by 6.0% in the third quarter. Wellington Management Group LLP now owns 6,431,814 shares of the biopharmaceutical company’s stock valued at $1,139,074,000 after buying an additional 364,021 shares during the last quarter. Vanguard Group Inc. raised its stake in Alnylam Pharmaceuticals by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock valued at $2,286,181,000 after buying an additional 287,064 shares during the last quarter. Finally, abrdn plc raised its stake in Alnylam Pharmaceuticals by 910.7% in the fourth quarter. abrdn plc now owns 232,716 shares of the biopharmaceutical company’s stock valued at $44,544,000 after buying an additional 209,691 shares during the last quarter. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

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.