Alnylam Pharmaceuticals (NASDAQ:ALNY) Rating Increased to Buy at StockNews.com

Alnylam Pharmaceuticals (NASDAQ:ALNY) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

ALNY has been the subject of several other reports. Barclays lifted their price objective on Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Scotiabank boosted their price target on Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. Canaccord Genuity Group lifted their price objective on shares of Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, HC Wainwright reissued a “buy” rating and set a $400.00 target price on shares of Alnylam Pharmaceuticals in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $298.09.

Alnylam Pharmaceuticals Stock Performance

NASDAQ:ALNY opened at $238.87 on Wednesday. The company has a debt-to-equity ratio of 31.64, a quick ratio of 2.69 and a current ratio of 2.75. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $304.39. The company has a 50 day simple moving average of $265.40 and a two-hundred day simple moving average of $250.83. The company has a market capitalization of $30.81 billion, a PE ratio of -91.17 and a beta of 0.32.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.36). The firm had revenue of $500.90 million for the quarter, compared to the consensus estimate of $532.91 million. The firm’s revenue for the quarter was down 33.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.15 EPS. Research analysts anticipate that Alnylam Pharmaceuticals will post -2.21 earnings per share for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, CMO Pushkal Garg sold 1,682 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total transaction of $422,148.36. Following the completion of the sale, the chief marketing officer now directly owns 17,457 shares in the company, valued at approximately $4,381,357.86. This represents a 8.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Tolga Tanguler sold 1,469 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total value of $368,689.62. Following the transaction, the executive vice president now directly owns 13,191 shares of the company’s stock, valued at $3,310,677.18. The trade was a 10.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,122 shares of company stock worth $2,540,455. Insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Several large investors have recently added to or reduced their stakes in ALNY. American Trust bought a new position in Alnylam Pharmaceuticals in the 3rd quarter worth $309,000. Tidal Investments LLC increased its position in shares of Alnylam Pharmaceuticals by 75.1% during the third quarter. Tidal Investments LLC now owns 20,544 shares of the biopharmaceutical company’s stock valued at $5,650,000 after buying an additional 8,811 shares during the period. Sanctuary Advisors LLC increased its position in shares of Alnylam Pharmaceuticals by 91.8% during the third quarter. Sanctuary Advisors LLC now owns 4,558 shares of the biopharmaceutical company’s stock valued at $1,254,000 after buying an additional 2,181 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in Alnylam Pharmaceuticals by 4.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 34,713 shares of the biopharmaceutical company’s stock worth $9,547,000 after buying an additional 1,500 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in Alnylam Pharmaceuticals by 27.3% in the third quarter. Toronto Dominion Bank now owns 15,466 shares of the biopharmaceutical company’s stock worth $4,254,000 after buying an additional 3,315 shares during the period. Institutional investors own 92.97% 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.