Alnylam Pharmaceuticals (NASDAQ:ALNY) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a $500.00 price objective on the biopharmaceutical company’s stock.

ALNY has been the topic of a number of other research reports. Needham & Company LLC reissued a “buy” rating and issued a $320.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, March 21st. Redburn Atlantic began coverage on Alnylam Pharmaceuticals in a research note on Monday. They issued a “buy” rating and a $353.00 target price on the stock. Sanford C. Bernstein dropped their price target on Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Canaccord Genuity Group upped their price objective on Alnylam Pharmaceuticals from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Friday, March 21st. Finally, William Blair reissued an “outperform” rating on shares of Alnylam Pharmaceuticals in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $316.25.

Alnylam Pharmaceuticals Trading Up 4.3 %

Alnylam Pharmaceuticals stock opened at $266.83 on Wednesday. The company has a debt-to-equity ratio of 15.27, a quick ratio of 2.71 and a current ratio of 2.78. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $304.39. The stock has a market cap of $34.71 billion, a P/E ratio of -122.96 and a beta of 0.30. The firm’s fifty day moving average price is $260.16 and its 200-day moving average price is $260.56.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly 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). Equities research analysts forecast that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CMO Pushkal Garg sold 1,548 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $251.67, for a total transaction of $389,585.16. Following the sale, the chief marketing officer now directly owns 11,989 shares of the company’s stock, valued at approximately $3,017,271.63. The trade was a 11.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kevin Joseph Fitzgerald sold 1,440 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $251.56, for a total value of $362,246.40. Following the completion of the transaction, the executive vice president now directly owns 12,881 shares of the company’s stock, valued at $3,240,344.36. This represents a 10.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,234 shares of company stock worth $19,958,097 over the last quarter. 1.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Regeneron Pharmaceuticals Inc. bought a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter valued at $1,045,822,000. Norges Bank purchased a new position in Alnylam Pharmaceuticals during the 4th quarter valued at about $577,941,000. Capital Research Global Investors boosted its stake in Alnylam Pharmaceuticals by 32.9% during the fourth quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company’s stock worth $1,639,767,000 after acquiring an additional 1,724,610 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Alnylam Pharmaceuticals by 39.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company’s stock worth $1,031,705,000 after purchasing an additional 1,245,195 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Alnylam Pharmaceuticals by 496.6% during the fourth quarter. Marshall Wace LLP now owns 378,649 shares of the biopharmaceutical company’s stock valued at $89,100,000 after purchasing an additional 315,182 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.