Alnylam Pharmaceuticals (NASDAQ:ALNY) Given “Buy” Rating at Needham & Company LLC

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

A number of other brokerages have also recently issued reports on ALNY. HC Wainwright restated a “buy” rating and issued a $500.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Wednesday, April 2nd. Citigroup upped their target price on shares of Alnylam Pharmaceuticals from $338.00 to $351.00 and gave the stock a “buy” rating in a report on Friday, March 21st. Morgan Stanley increased their target price on shares of Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Sanford C. Bernstein decreased their price target on shares of Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Finally, Redburn Atlantic assumed coverage on Alnylam Pharmaceuticals in a research note on Monday, March 31st. They set a “buy” rating and a $353.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $316.25.

Alnylam Pharmaceuticals Stock Down 10.4 %

Shares of NASDAQ:ALNY traded down $25.36 during trading on Wednesday, reaching $217.91. 507,780 shares of the stock were exchanged, compared to its average volume of 853,419. The stock has a fifty day moving average of $254.83 and a two-hundred day moving average of $258.93. 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 market cap of $28.35 billion, a price-to-earnings ratio of -99.18 and a beta of 0.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.03). Research analysts anticipate that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CMO Pushkal Garg sold 1,548 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $251.67, for a total value of $389,585.16. Following the sale, the chief marketing officer now owns 11,989 shares in the company, valued at $3,017,271.63. This represents a 11.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Kevin Joseph Fitzgerald sold 1,440 shares of Alnylam Pharmaceuticals stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $251.56, for a total value of $362,246.40. Following the transaction, the executive vice president now owns 12,881 shares of the company’s stock, valued at $3,240,344.36. The trade was a 10.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,234 shares of company stock valued at $19,958,097 over the last three months. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of ALNY. Allworth Financial LP increased its stake in Alnylam Pharmaceuticals by 6.8% during the 4th quarter. Allworth Financial LP now owns 597 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 38 shares in the last quarter. Investment Management Corp of Ontario raised its holdings in Alnylam Pharmaceuticals by 0.6% in the 4th quarter. Investment Management Corp of Ontario now owns 7,099 shares of the biopharmaceutical company’s stock worth $1,670,000 after acquiring an additional 40 shares during the last quarter. Nixon Peabody Trust Co. lifted its position in Alnylam Pharmaceuticals by 1.9% in the 4th quarter. Nixon Peabody Trust Co. now owns 2,293 shares of the biopharmaceutical company’s stock valued at $540,000 after acquiring an additional 43 shares in the last quarter. Brevan Howard Capital Management LP increased its holdings in shares of Alnylam Pharmaceuticals by 3.4% in the 4th quarter. Brevan Howard Capital Management LP now owns 1,333 shares of the biopharmaceutical company’s stock worth $314,000 after purchasing an additional 44 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Alnylam Pharmaceuticals by 24.2% in the fourth quarter. IFP Advisors Inc now owns 241 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 47 shares during the last quarter. 92.97% of the stock is currently owned by institutional investors.

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.