Alnylam Pharmaceuticals’ (ALNY) Buy Rating Reiterated at HC Wainwright

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued on Monday, Benzinga reports. They presently have a $400.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 46.03% from the stock’s current price.

Several other research firms have also weighed in on ALNY. Cantor Fitzgerald restated a “neutral” rating and set a $220.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday, October 11th. The Goldman Sachs Group upgraded Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $198.00 to $370.00 in a research note on Friday, August 16th. Raymond James lifted their price objective on Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the company an “outperform” rating in a research note on Friday. Scotiabank lifted their price objective on Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the company a “sector outperform” rating in a research note on Friday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Alnylam Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $294.50.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY stock opened at $273.91 on Monday. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $304.39. The firm has a market cap of $35.16 billion, a P/E ratio of -104.55 and a beta of 0.39. The business’s 50 day moving average price is $274.61 and its 200-day moving average price is $226.42.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.36). The company had revenue of $500.90 million during the quarter, compared to the consensus estimate of $532.91 million. During the same quarter in the previous year, the company earned $1.15 EPS. The firm’s quarterly revenue was down 33.3% compared to the same quarter last year. As a group, equities analysts predict that Alnylam Pharmaceuticals will post -2.74 EPS for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, Director Dennis A. Ausiello sold 20,250 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total value of $5,305,500.00. Following the completion of the transaction, the director now owns 136 shares of the company’s stock, valued at $35,632. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Yvonne Greenstreet sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total value of $4,200,000.00. Following the sale, the chief executive officer now directly owns 73,441 shares in the company, valued at approximately $20,563,480. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dennis A. Ausiello sold 20,250 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was 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 owns 136 shares in the company, valued at $35,632. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the company. Atria Investments Inc lifted its position in shares of Alnylam Pharmaceuticals by 78.9% in the third quarter. Atria Investments Inc now owns 3,145 shares of the biopharmaceutical company’s stock worth $865,000 after buying an additional 1,387 shares in the last quarter. Lindbrook Capital LLC raised its position in Alnylam Pharmaceuticals by 11.1% during the third quarter. Lindbrook Capital LLC now owns 570 shares of the biopharmaceutical company’s stock valued at $157,000 after purchasing an additional 57 shares during the period. Assetmark Inc. raised its position in Alnylam Pharmaceuticals by 8.2% during the third quarter. Assetmark Inc. now owns 9,186 shares of the biopharmaceutical company’s stock valued at $2,526,000 after purchasing an additional 700 shares during the period. Washington Trust Advisors Inc. purchased a new stake in Alnylam Pharmaceuticals during the third quarter valued at approximately $42,000. Finally, Hollencrest Capital Management purchased a new stake in Alnylam Pharmaceuticals during the third quarter valued at approximately $29,000. 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.