Alnylam Pharmaceuticals’ (ALNY) Buy Rating Reiterated at Needham & Company LLC

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

A number of other equities research analysts have also recently commented on ALNY. Scotiabank lifted their price target on shares of Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st. Wolfe Research lowered Alnylam Pharmaceuticals from a “peer perform” rating to an “underperform” rating in a research note on Tuesday, November 12th. Canaccord Genuity Group increased their target price on Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Sanford C. Bernstein reduced their price objective on Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Finally, TD Cowen increased their price target on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the company a “buy” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $298.61.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY opened at $251.01 on Monday. The company has a quick ratio of 2.69, a current ratio of 2.75 and a debt-to-equity ratio of 31.64. The business’s fifty day moving average is $248.15 and its 200 day moving average is $259.81. The stock has a market cap of $32.38 billion, a P/E ratio of -95.81 and a beta of 0.34. Alnylam Pharmaceuticals has a 12-month low of $141.98 and a 12-month high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share (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 analysts’ expectations of $532.91 million. During the same period last year, the firm posted $1.15 EPS. Alnylam Pharmaceuticals’s quarterly revenue was down 33.3% on a year-over-year basis. Sell-side analysts anticipate that Alnylam Pharmaceuticals will post -2.21 earnings per share for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In related news, CMO Pushkal Garg sold 1,682 shares of the firm’s 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 $422,148.36. Following the transaction, the chief marketing officer now owns 17,457 shares of the company’s stock, valued at approximately $4,381,357.86. This trade represents a 8.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Tolga Tanguler sold 1,469 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total value of $368,689.62. Following the completion of the sale, the executive vice president now owns 13,191 shares of the company’s stock, valued at $3,310,677.18. This trade represents a 10.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,122 shares of company stock valued at $2,540,455. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its stake in Alnylam Pharmaceuticals by 2.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 5,752 shares of the biopharmaceutical company’s stock valued at $1,398,000 after purchasing an additional 158 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Alnylam Pharmaceuticals in the 2nd quarter worth about $26,000. Dai ichi Life Insurance Company Ltd purchased a new position in Alnylam Pharmaceuticals during the 2nd quarter valued at $262,000. Dimensional Fund Advisors LP grew its holdings in shares of Alnylam Pharmaceuticals by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 266,206 shares of the biopharmaceutical company’s stock worth $64,702,000 after purchasing an additional 11,027 shares during the last quarter. Finally, E Fund Management Co. Ltd. raised its stake in shares of Alnylam Pharmaceuticals by 75.1% during the second quarter. E Fund Management Co. Ltd. now owns 4,926 shares of the biopharmaceutical company’s stock valued at $1,197,000 after acquiring an additional 2,112 shares in the last quarter. 92.97% of the stock is currently owned by 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.