Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Rating Reaffirmed by HC Wainwright

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research note issued on Tuesday, Benzinga reports. They presently have a $400.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 43.28% from the stock’s previous close.

A number of other equities analysts have also recently commented on ALNY. Raymond James lifted their price target on shares of Alnylam Pharmaceuticals from $242.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Chardan Capital reissued a “buy” rating and set a $225.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, May 3rd. StockNews.com raised Alnylam Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. SVB Leerink lifted their target price on Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the stock a “market perform” rating in a research report on Tuesday, June 25th. Finally, TD Cowen upped their price target on shares of Alnylam Pharmaceuticals from $260.00 to $282.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $277.14.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY stock opened at $279.17 on Tuesday. The company has a market cap of $35.31 billion, a PE ratio of -104.76 and a beta of 0.37. Alnylam Pharmaceuticals has a 1 year low of $141.98 and a 1 year high of $285.00. The stock’s 50 day simple moving average is $237.13 and its two-hundred day simple moving average is $181.78.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.61. The company had revenue of $659.83 million for the quarter, compared to the consensus estimate of $447.22 million. The business’s revenue for the quarter was up 107.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.21) EPS. Equities research analysts expect that Alnylam Pharmaceuticals will post -3.99 EPS for the current year.

Insider Activity

In related news, CEO Yvonne Greenstreet sold 8,301 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $230.99, for a total transaction of $1,917,447.99. Following the completion of the transaction, the chief executive officer now owns 80,534 shares in the company, valued at approximately $18,602,548.66. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 32,450 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $220.69, for a total value of $7,161,390.50. Following the completion of the sale, the director now directly owns 136 shares in the company, valued at $30,013.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Yvonne Greenstreet sold 8,301 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total value of $1,917,447.99. Following the sale, the chief executive officer now owns 80,534 shares in the company, valued at approximately $18,602,548.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,848 shares of company stock worth $24,683,444. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC increased its stake in Alnylam Pharmaceuticals by 21.9% during the 2nd quarter. V Square Quantitative Management LLC now owns 334 shares of the biopharmaceutical company’s stock valued at $81,000 after purchasing an additional 60 shares in the last quarter. Commerce Bank raised its stake in Alnylam Pharmaceuticals by 1.7% in the 4th quarter. Commerce Bank now owns 4,683 shares of the biopharmaceutical company’s stock worth $896,000 after acquiring an additional 77 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Alnylam Pharmaceuticals by 7.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,368 shares of the biopharmaceutical company’s stock worth $262,000 after acquiring an additional 89 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Alnylam Pharmaceuticals by 54.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 259 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 91 shares during the period. Finally, Metis Global Partners LLC raised its stake in shares of Alnylam Pharmaceuticals by 2.2% in the fourth quarter. Metis Global Partners LLC now owns 4,382 shares of the biopharmaceutical company’s stock worth $839,000 after purchasing an additional 94 shares during the last quarter. 92.97% of the stock is 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.