Brokers Offer Predictions for Alnylam Pharmaceuticals, Inc.’s Q2 2024 Earnings (NASDAQ:ALNY)

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) – Leerink Partnrs boosted their Q2 2024 earnings per share (EPS) estimates for Alnylam Pharmaceuticals in a note issued to investors on Tuesday, June 25th. Leerink Partnrs analyst M. Foroohar now forecasts that the biopharmaceutical company will post earnings of ($0.90) per share for the quarter, up from their prior forecast of ($1.09). The consensus estimate for Alnylam Pharmaceuticals’ current full-year earnings is ($3.75) per share. Leerink Partnrs also issued estimates for Alnylam Pharmaceuticals’ Q3 2024 earnings at ($0.91) EPS, Q4 2024 earnings at ($1.27) EPS, FY2024 earnings at ($3.61) EPS and FY2025 earnings at ($2.50) EPS.

Several other research analysts also recently commented on the company. Wells Fargo & Company lifted their target price on Alnylam Pharmaceuticals from $161.00 to $207.00 and gave the stock an “equal weight” rating in a report on Tuesday. HC Wainwright restated a “buy” rating and issued a $400.00 price target on shares of Alnylam Pharmaceuticals in a report on Monday, June 24th. StockNews.com upgraded Alnylam Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, April 29th. Evercore ISI increased their target price on Alnylam Pharmaceuticals from $210.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Stifel Nicolaus boosted their target price on shares of Alnylam Pharmaceuticals from $215.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $247.09.

Alnylam Pharmaceuticals Price Performance

NASDAQ:ALNY opened at $243.00 on Friday. The company has a market cap of $30.74 billion, a PE ratio of -90.67 and a beta of 0.30. The firm’s 50 day simple moving average is $159.86 and its 200 day simple moving average is $164.73. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $252.87.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.23. The company had revenue of $494.33 million for the quarter, compared to analyst estimates of $428.01 million. The firm’s quarterly revenue was up 54.8% on a year-over-year basis. During the same quarter last year, the company posted ($1.40) earnings per share.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky increased its stake in Alnylam Pharmaceuticals by 8.1% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 33,213 shares of the biopharmaceutical company’s stock worth $4,964,000 after purchasing an additional 2,500 shares during the period. Cetera Advisors LLC purchased a new position in Alnylam Pharmaceuticals in the 1st quarter worth about $238,000. Burney Co. lifted its holdings in Alnylam Pharmaceuticals by 371.9% during the 1st quarter. Burney Co. now owns 27,059 shares of the biopharmaceutical company’s stock valued at $4,044,000 after buying an additional 21,325 shares in the last quarter. Swedbank AB bought a new stake in Alnylam Pharmaceuticals during the 1st quarter valued at about $3,084,000. Finally, Plato Investment Management Ltd boosted its position in Alnylam Pharmaceuticals by 2,666.3% in the 1st quarter. Plato Investment Management Ltd now owns 4,509 shares of the biopharmaceutical company’s stock valued at $674,000 after buying an additional 4,346 shares during the period. 92.97% of the stock is owned by institutional investors.

Insider Activity at Alnylam Pharmaceuticals

In other news, Director Amy W. Schulman sold 21,700 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $148.60, for a total transaction of $3,224,620.00. Following the transaction, the director now owns 8,436 shares of the company’s stock, valued at approximately $1,253,589.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Amy W. Schulman sold 21,700 shares of Alnylam Pharmaceuticals stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $148.60, for a total transaction of $3,224,620.00. Following the completion of the transaction, the director now directly owns 8,436 shares of the company’s stock, valued at approximately $1,253,589.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $230.99, for a total transaction of $276,726.02. Following the transaction, the executive vice president now owns 14,181 shares in the company, valued at $3,275,669.19. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,357 shares of company stock valued at $13,436,711. Insiders own 1.50% of the company’s stock.

About Alnylam Pharmaceuticals

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.