Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Rating Reaffirmed as “Buy” by HC Wainwright

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research note issued on Monday, September 21st, Benzinga reports. They presently have a $455.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 81.04% from the stock’s previous close.

Several other equities analysts also recently weighed in on ALNY. JPMorgan Chase & Co. reduced their target price on shares of Alnylam Pharmaceuticals from $400.00 to $375.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Needham & Company LLC reduced their target price on shares of Alnylam Pharmaceuticals from $510.00 to $357.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Raymond James Financial upgraded shares of Alnylam Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and set a $420.00 target price for the company in a research note on Monday, August 3rd. Morgan Stanley reduced their target price on shares of Alnylam Pharmaceuticals from $400.00 to $300.00 and set an “equal weight” rating for the company in a research note on Friday, July 31st. Finally, Chardan Capital reiterated a “buy” rating and issued a $425.00 target price on shares of Alnylam Pharmaceuticals in a research note on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $367.20.

Alnylam Pharmaceuticals Stock Performance

NASDAQ ALNY traded down $4.63 during trading hours on Monday, reaching $251.33. 143,537 shares of the company were exchanged, compared to its average volume of 1,446,970. Alnylam Pharmaceuticals has a 1 year low of $197.81 and a 1 year high of $495.55. The business’s 50 day simple moving average is $244.26 and its 200-day simple moving average is $283.07. The company has a quick ratio of 2.99, a current ratio of 3.05 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $33.63 billion, a P/E ratio of 46.81 and a beta of 0.31.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.21. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the company posted ($0.51) earnings per share. The firm’s quarterly revenue was up 66.9% compared to the same quarter last year. On average, equities research analysts expect that Alnylam Pharmaceuticals will post 6.71 earnings per share for the current year.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Norges Bank bought a new stake in Alnylam Pharmaceuticals during the fourth quarter valued at approximately $895,816,000. Legal & General Group Plc bought a new stake in Alnylam Pharmaceuticals during the second quarter valued at approximately $278,321,000. Bank of New York Mellon Corp bought a new stake in Alnylam Pharmaceuticals during the second quarter valued at approximately $148,128,000. Canada Pension Plan Investment Board bought a new stake in Alnylam Pharmaceuticals during the second quarter valued at approximately $100,618,000. Finally, Korea Investment CORP bought a new stake in Alnylam Pharmaceuticals during the second quarter valued at approximately $74,553,000. 92.97% of the stock is currently owned by institutional investors.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines based on RNA interference (RNAi) technology. RNAi therapies are designed to silence specific genes involved in disease, offering a way to target conditions that may be difficult to treat with conventional drug approaches. The company was founded in 2002 and is headquartered in Cambridge, Massachusetts.

Alnylam’s commercial products include Onpattro (patisiran), Givlaari (givosiran), Oxlumo (lumasiran) and Amvuttra (vutrisiran).