Alnylam Pharmaceuticals’ (ALNY) “Buy” Rating Reaffirmed at Needham & Company LLC

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They currently have a $320.00 target price on the biopharmaceutical company’s stock. Needham & Company LLC’s price target points to a potential upside of 33.05% from the company’s current price.

A number of other analysts have also recently issued reports on ALNY. Piper Sandler reiterated an “overweight” rating and set a $296.00 target price on shares of Alnylam Pharmaceuticals in a report on Monday, November 18th. Cantor Fitzgerald reissued a “neutral” rating and issued a $220.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday, October 11th. HC Wainwright restated a “buy” rating and set a $400.00 target price on shares of Alnylam Pharmaceuticals in a report on Monday, November 18th. William Blair reiterated an “outperform” rating on shares of Alnylam Pharmaceuticals in a report on Tuesday, November 19th. Finally, Wolfe Research cut Alnylam Pharmaceuticals from a “peer perform” rating to an “underperform” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $298.61.

Alnylam Pharmaceuticals Price Performance

ALNY stock opened at $240.51 on Monday. The firm has a 50 day moving average of $248.64 and a 200-day moving average of $259.83. The company has a market cap of $31.02 billion, a price-to-earnings ratio of -91.80 and a beta of 0.34. The company has a current ratio of 2.75, a quick ratio of 2.69 and a debt-to-equity ratio of 31.64. Alnylam Pharmaceuticals has a 12-month low of $141.98 and a 12-month high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.36). The company had revenue of $500.90 million during the quarter, compared to analysts’ expectations of $532.91 million. During the same quarter in the prior year, the firm posted $1.15 earnings per share. The business’s quarterly revenue was down 33.3% compared to the same quarter last year. As a group, equities analysts expect that Alnylam Pharmaceuticals will post -2.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CMO Pushkal Garg sold 1,752 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $251.00, for a total transaction of $439,752.00. Following the transaction, the chief marketing officer now directly owns 15,705 shares in the company, valued at $3,941,955. This trade represents a 10.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tolga Tanguler sold 1,469 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total transaction of $368,689.62. Following the transaction, the executive vice president now directly owns 13,191 shares of the company’s stock, valued at approximately $3,310,677.18. This trade represents a 10.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,122 shares of company stock valued at $2,540,455. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new stake in Alnylam Pharmaceuticals during the 2nd quarter valued at $26,000. Huntington National Bank lifted its holdings in shares of Alnylam Pharmaceuticals by 91.8% during the third quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 45 shares in the last quarter. Hollencrest Capital Management purchased a new stake in shares of Alnylam Pharmaceuticals during the third quarter valued at $29,000. Washington Trust Advisors Inc. bought a new stake in Alnylam Pharmaceuticals in the 3rd quarter worth about $42,000. Finally, True Wealth Design LLC raised its position in Alnylam Pharmaceuticals by 15,300.0% in the 3rd quarter. True Wealth Design LLC now owns 154 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 153 shares during the last quarter. Institutional investors own 92.97% of the company’s stock.

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.