Needham & Company LLC Reaffirms Buy Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Needham & Company LLC reaffirmed their buy rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a report issued on Thursday, Benzinga reports. Needham & Company LLC currently has a $320.00 price target on the biopharmaceutical company’s stock.

A number of other research firms have also weighed in on ALNY. Leerink Partners increased their price objective on shares of Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the stock a market perform rating in a research report on Tuesday, June 25th. Cantor Fitzgerald reiterated a neutral rating and set a $220.00 target price on shares of Alnylam Pharmaceuticals in a research report on Monday, September 9th. UBS Group upped their price target on shares of Alnylam Pharmaceuticals from $253.00 to $288.00 and gave the stock a buy rating in a report on Friday, June 28th. Citigroup lifted their price objective on shares of Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the company a buy rating in a report on Friday, August 2nd. Finally, BMO Capital Markets restated an outperform rating and issued a $234.00 target price on shares of Alnylam Pharmaceuticals in a research note on Monday, June 24th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $285.62.

Alnylam Pharmaceuticals Price Performance

NASDAQ:ALNY opened at $284.32 on Thursday. The firm has a market capitalization of $35.96 billion, a price-to-earnings ratio of -106.09 and a beta of 0.39. The business has a 50 day simple moving average of $269.10 and a 200-day simple moving average of $212.11. Alnylam Pharmaceuticals has a 1 year low of $141.98 and a 1 year high of $287.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.61. The company had revenue of $659.83 million during the quarter, compared to the consensus estimate of $447.22 million. During the same quarter in the prior year, the business earned ($2.21) earnings per share. The firm’s quarterly revenue was up 107.0% compared to the same quarter last year. As a group, analysts expect that Alnylam Pharmaceuticals will post -2.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, Director Dennis A. Ausiello sold 20,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $262.00, for a total value of $5,305,500.00. Following the completion of the sale, the director now directly owns 136 shares in the company, valued at $35,632. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,148 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $270.00, for a total transaction of $4,089,960.00. Following the sale, the chief executive officer now owns 73,441 shares of the company’s stock, valued at approximately $19,829,070. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dennis A. Ausiello sold 20,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $262.00, for a total transaction of $5,305,500.00. Following the transaction, the director now owns 136 shares in the company, valued at $35,632. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,398 shares of company stock worth $13,595,460 in the last 90 days. 1.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of large investors have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC purchased a new position in Alnylam Pharmaceuticals in the 2nd quarter worth $26,000. Allspring Global Investments Holdings LLC raised its stake in shares of Alnylam Pharmaceuticals by 572.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 143 shares during the last quarter. Altitude Crest Partners Inc. acquired a new stake in shares of Alnylam Pharmaceuticals during the first quarter worth about $30,000. V Square Quantitative Management LLC acquired a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter worth about $52,000. Finally, Meeder Asset Management Inc. boosted its position in Alnylam Pharmaceuticals by 1,237.5% in the second quarter. Meeder Asset Management Inc. now owns 321 shares of the biopharmaceutical company’s stock valued at $78,000 after buying an additional 297 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.