Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Rating Upgraded by Citigroup

Alnylam Pharmaceuticals (NASDAQ:ALNY) was upgraded by research analysts at Citigroup to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

ALNY has been the subject of a number of other research reports. Royal Bank Of Canada lowered their target price on Alnylam Pharmaceuticals from $450.00 to $445.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Needham & Company LLC lowered their target price on Alnylam Pharmaceuticals from $529.00 to $510.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Chardan Capital restated a “buy” rating and set a $425.00 target price on shares of Alnylam Pharmaceuticals in a report on Wednesday, March 25th. Bank of America restated a “buy” rating on shares of Alnylam Pharmaceuticals in a report on Thursday, February 12th. Finally, Freedom Capital upgraded Alnylam Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 17th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $463.13.

Alnylam Pharmaceuticals Stock Up 2.8%

Shares of NASDAQ:ALNY opened at $294.30 on Monday. Alnylam Pharmaceuticals has a 52-week low of $284.19 and a 52-week high of $495.55. The stock has a market cap of $39.29 billion, a P/E ratio of 80.41 and a beta of 0.31. The business’s 50 day moving average is $312.56 and its 200 day moving average is $362.08. The company has a quick ratio of 3.06, a current ratio of 3.13 and a debt-to-equity ratio of 0.94.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $1.12. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.Alnylam Pharmaceuticals’s revenue was up 96.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.44) earnings per share. Sell-side analysts predict that Alnylam Pharmaceuticals will post 7.36 EPS for the current year.

Insider Activity

In other news, insider Melissa Mclaughlin sold 2,286 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $330.42, for a total transaction of $755,340.12. Following the completion of the sale, the insider owned 9,443 shares in the company, valued at approximately $3,120,156.06. This represents a 19.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Kevin Joseph Fitzgerald sold 1,652 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $319.73, for a total value of $528,193.96. Following the sale, the executive vice president owned 21,860 shares of the company’s stock, valued at approximately $6,989,297.80. This represents a 7.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 21,255 shares of company stock worth $6,930,337. Company insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Root Financial Partners LLC acquired a new position in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at $25,000. MV Capital Management Inc. acquired a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at $25,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at $29,000. HM Payson & Co. acquired a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at $27,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at $32,000. 92.97% of the stock is owned by institutional investors and hedge funds.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc (NASDAQ: ALNY) is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.