Needham & Company LLC Reaffirms “Buy” Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $320.00 price target on the biopharmaceutical company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 18.12% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Citigroup increased their price objective on Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Canaccord Genuity Group raised their price target on shares of Alnylam Pharmaceuticals from $357.00 to $366.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Thursday, September 19th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $220.00 target price on shares of Alnylam Pharmaceuticals in a research report on Monday, September 9th. Finally, BMO Capital Markets restated an “outperform” rating and set a $234.00 price target on shares of Alnylam Pharmaceuticals in a report on Monday, June 24th. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $279.14.

Alnylam Pharmaceuticals Trading Down 0.1 %

NASDAQ ALNY opened at $270.90 on Thursday. Alnylam Pharmaceuticals has a 1 year low of $141.98 and a 1 year high of $287.55. The stock’s 50-day moving average price is $268.65 and its two-hundred day moving average price is $210.30. The company has a market cap of $34.27 billion, a PE ratio of -101.08 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.61. The firm had revenue of $659.83 million during the quarter, compared to analysts’ expectations of $447.22 million. During the same quarter last year, the company posted ($2.21) EPS. The firm’s revenue was up 107.0% compared to the same quarter last year. Research analysts forecast that Alnylam Pharmaceuticals will post -2.73 EPS for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total value of $4,200,000.00. Following the sale, the chief executive officer now directly owns 73,441 shares in the company, valued at $20,563,480. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total value of $4,200,000.00. Following the completion of the sale, the chief executive officer now owns 73,441 shares in the company, valued at approximately $20,563,480. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dennis A. Ausiello sold 20,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $262.00, for a total value of $5,305,500.00. Following the sale, the director now owns 136 shares in the company, valued at approximately $35,632. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,398 shares of company stock worth $13,595,460 in the last ninety days. 1.50% of the stock is currently owned by insiders.

Institutional Trading of Alnylam Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Alnylam Pharmaceuticals by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock worth $2,286,181,000 after purchasing an additional 287,064 shares during the period. Quattro Financial Advisors LLC grew its position in Alnylam Pharmaceuticals by 2,517.8% in the first quarter. Quattro Financial Advisors LLC now owns 5,000 shares of the biopharmaceutical company’s stock valued at $747,000 after acquiring an additional 4,809 shares during the period. Plato Investment Management Ltd grew its position in Alnylam Pharmaceuticals by 2,666.3% in the first quarter. Plato Investment Management Ltd now owns 4,509 shares of the biopharmaceutical company’s stock valued at $674,000 after acquiring an additional 4,346 shares during the period. SteelPeak Wealth LLC raised its stake in Alnylam Pharmaceuticals by 147.7% during the first quarter. SteelPeak Wealth LLC now owns 6,860 shares of the biopharmaceutical company’s stock worth $1,025,000 after acquiring an additional 4,090 shares in the last quarter. Finally, Diversified Trust Co acquired a new stake in shares of Alnylam Pharmaceuticals in the 2nd quarter valued at $1,210,000. 92.97% of the stock is currently owned by institutional investors and hedge funds.

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.