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

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

Other equities analysts have also recently issued research reports about the stock. TD Cowen raised their target price on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Needham & Company LLC reissued a “buy” rating and issued a $320.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. Wolfe Research lowered Alnylam Pharmaceuticals from a “peer perform” rating to an “underperform” rating in a research report on Tuesday, November 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $296.00 target price on shares of Alnylam Pharmaceuticals in a research report on Monday, November 18th. Finally, William Blair reiterated an “outperform” rating on shares of Alnylam Pharmaceuticals in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $298.09.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY opened at $237.97 on Friday. The firm has a market cap of $30.69 billion, a price-to-earnings ratio of -90.83 and a beta of 0.32. The company has a quick ratio of 2.69, a current ratio of 2.75 and a debt-to-equity ratio of 31.64. The business’s 50 day moving average is $258.73 and its two-hundred day moving average is $255.23. Alnylam Pharmaceuticals has a 52-week low of $141.98 and a 52-week high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.36). The company had revenue of $500.90 million during the quarter, compared to analyst estimates of $532.91 million. During the same period last year, the business earned $1.15 EPS. The business’s quarterly revenue was down 33.3% on a year-over-year basis. Analysts forecast that Alnylam Pharmaceuticals will post -2.21 EPS for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In related news, CMO Pushkal Garg sold 1,752 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $251.00, for a total value of $439,752.00. Following the completion of the transaction, the chief marketing officer now directly owns 15,705 shares of the company’s stock, valued at approximately $3,941,955. This trade represents a 10.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tolga Tanguler sold 1,469 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total transaction of $368,689.62. Following the sale, the executive vice president now directly owns 13,191 shares in the company, valued at $3,310,677.18. This trade represents a 10.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,122 shares of company stock valued at $2,540,455. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of ALNY. Los Angeles Capital Management LLC lifted its position in Alnylam Pharmaceuticals by 11,433.4% during the third quarter. Los Angeles Capital Management LLC now owns 137,017 shares of the biopharmaceutical company’s stock worth $37,684,000 after acquiring an additional 135,829 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Alnylam Pharmaceuticals during the 2nd quarter worth approximately $578,000. Toronto Dominion Bank increased its stake in shares of Alnylam Pharmaceuticals by 27.3% in the 3rd quarter. Toronto Dominion Bank now owns 15,466 shares of the biopharmaceutical company’s stock valued at $4,254,000 after purchasing an additional 3,315 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Alnylam Pharmaceuticals by 22.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 73,320 shares of the biopharmaceutical company’s stock worth $20,165,000 after acquiring an additional 13,422 shares in the last quarter. Finally, Parkman Healthcare Partners LLC acquired a new stake in Alnylam Pharmaceuticals in the third quarter valued at approximately $7,009,000. 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.