Redburn Atlantic Initiates Coverage on Alnylam Pharmaceuticals (NASDAQ:ALNY)

Redburn Atlantic began coverage on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $353.00 price target on the biopharmaceutical company’s stock. Redburn Atlantic’s price target points to a potential upside of 31.49% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus upped their price target on Alnylam Pharmaceuticals from $300.00 to $345.00 and gave the stock a “buy” rating in a report on Monday. Scotiabank upped their price objective on Alnylam Pharmaceuticals from $300.00 to $338.00 and gave the company a “sector outperform” rating in a research note on Friday, March 21st. HC Wainwright increased their target price on shares of Alnylam Pharmaceuticals from $400.00 to $500.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Citigroup raised their target price on Alnylam Pharmaceuticals from $338.00 to $351.00 and gave the company a “buy” rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. raised Alnylam Pharmaceuticals from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $280.00 to $328.00 in a report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $316.08.

Alnylam Pharmaceuticals Trading Down 0.9 %

Shares of ALNY opened at $268.46 on Monday. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $304.39. The company has a debt-to-equity ratio of 15.27, a current ratio of 2.78 and a quick ratio of 2.71. The firm has a 50 day simple moving average of $259.86 and a 200-day simple moving average of $260.52. The stock has a market cap of $34.92 billion, a price-to-earnings ratio of -123.71 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). Equities analysts forecast that Alnylam Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CMO Pushkal Garg sold 52,592 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $285.00, for a total value of $14,988,720.00. Following the completion of the sale, the chief marketing officer now owns 11,989 shares in the company, valued at $3,416,865. This represents a 81.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kevin Joseph Fitzgerald sold 663 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $255.21, for a total value of $169,204.23. Following the completion of the sale, the executive vice president now owns 14,321 shares of the company’s stock, valued at $3,654,862.41. This trade represents a 4.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,234 shares of company stock valued at $19,958,097 in the last 90 days. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several institutional investors have recently bought and sold shares of ALNY. Jennison Associates LLC bought a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter valued at about $61,160,000. Strategic Financial Concepts LLC acquired a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter worth approximately $41,529,000. Truist Financial Corp boosted its stake in Alnylam Pharmaceuticals by 136.6% in the fourth quarter. Truist Financial Corp now owns 4,398 shares of the biopharmaceutical company’s stock valued at $1,035,000 after buying an additional 2,539 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Alnylam Pharmaceuticals by 3.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 286,703 shares of the biopharmaceutical company’s stock valued at $67,464,000 after buying an additional 8,462 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Alnylam Pharmaceuticals by 13.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,918 shares of the biopharmaceutical company’s stock valued at $4,687,000 after buying an additional 2,285 shares during the period. Institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Company Profile

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.