Alnylam Pharmaceuticals (NASDAQ:ALNY) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) from a hold rating to a buy rating in a report published on Monday morning.

A number of other brokerages have also issued reports on ALNY. Chardan Capital cut their price target on shares of Alnylam Pharmaceuticals from $250.00 to $225.00 and set a buy rating on the stock in a research note on Friday, February 16th. HC Wainwright restated a buy rating and issued a $395.00 price objective on shares of Alnylam Pharmaceuticals in a report on Tuesday, March 5th. Royal Bank of Canada reiterated an outperform rating and set a $235.00 target price on shares of Alnylam Pharmaceuticals in a research note on Tuesday, February 20th. BMO Capital Markets restated an outperform rating and issued a $234.00 price target on shares of Alnylam Pharmaceuticals in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. lifted their price target on Alnylam Pharmaceuticals from $150.00 to $170.00 and gave the stock a neutral rating in a report on Thursday, February 1st. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $215.88.

Alnylam Pharmaceuticals Stock Performance

NASDAQ:ALNY opened at $147.36 on Monday. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $218.88. The company has a 50 day moving average price of $150.21 and a 200 day moving average price of $165.76. The stock has a market capitalization of $18.56 billion, a P/E ratio of -41.39 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.10) EPS for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.10. The firm had revenue of $439.72 million for the quarter, compared to analyst estimates of $439.38 million. During the same quarter last year, the company earned ($1.68) earnings per share. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. Research analysts forecast that Alnylam Pharmaceuticals will post -4.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its position in Alnylam Pharmaceuticals by 572.0% during the 1st 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. Commonwealth Equity Services LLC boosted its stake in shares of Alnylam Pharmaceuticals by 32.3% during the first quarter. Commonwealth Equity Services LLC now owns 5,594 shares of the biopharmaceutical company’s stock worth $836,000 after buying an additional 1,365 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of Alnylam Pharmaceuticals by 36.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 35,822 shares of the biopharmaceutical company’s stock worth $5,354,000 after buying an additional 9,662 shares during the last quarter. Prestige Wealth Management Group LLC increased its position in Alnylam Pharmaceuticals by 69.8% in the 1st quarter. Prestige Wealth Management Group LLC now owns 472 shares of the biopharmaceutical company’s stock valued at $71,000 after acquiring an additional 194 shares during the period. Finally, Yousif Capital Management LLC raised its stake in Alnylam Pharmaceuticals by 9.7% during the 1st quarter. Yousif Capital Management LLC now owns 1,635 shares of the biopharmaceutical company’s stock valued at $244,000 after acquiring an additional 144 shares during the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

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.