Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Rating Upgraded by Zacks Research

Alnylam Pharmaceuticals (NASDAQ:ALNY) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday, Zacks reports.

Other research analysts also recently issued reports about the company. Truist Financial cut their price target on Alnylam Pharmaceuticals from $410.00 to $315.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Citigroup reduced their target price on shares of Alnylam Pharmaceuticals from $380.00 to $340.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Needham & Company LLC lowered their price target on shares of Alnylam Pharmaceuticals from $510.00 to $357.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Barclays reduced their price objective on shares of Alnylam Pharmaceuticals from $527.00 to $450.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Finally, HC Wainwright restated a “buy” rating and issued a $455.00 target price on shares of Alnylam Pharmaceuticals in a research note on Monday, September 21st. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $366.90.

Alnylam Pharmaceuticals Stock Performance

ALNY stock opened at $223.94 on Monday. Alnylam Pharmaceuticals has a 1-year low of $197.81 and a 1-year high of $495.55. The business has a 50-day moving average price of $238.92 and a 200 day moving average price of $279.01. The company has a market capitalization of $29.97 billion, a P/E ratio of 41.62 and a beta of 0.28. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.05 and a quick ratio of 2.99.

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

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, EVP Bryan Supran sold 1,758 shares of the business’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $226.88, for a total transaction of $398,855.04. Following the sale, the executive vice president owned 12,807 shares in the company, valued at approximately $2,905,652.16. The trade was a 12.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of ALNY. MV Capital Management Inc. acquired a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter worth $25,000. Manchester Capital Management LLC lifted its position in Alnylam Pharmaceuticals by 600.0% during the fourth quarter. Manchester Capital Management LLC now owns 84 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 72 shares during the period. Titan Wealth CI Ltd acquired a new position in Alnylam Pharmaceuticals during the fourth quarter valued at $42,000. SHP Wealth Management purchased a new stake in Alnylam Pharmaceuticals in the fourth quarter valued at $43,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in Alnylam Pharmaceuticals in the second quarter valued at $42,000. Institutional investors and hedge funds own 92.97% of the company’s stock.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines based on RNA interference (RNAi), a biological process that can selectively reduce the production of disease-causing proteins. The company was founded in 2002 and is headquartered in Cambridge, Massachusetts.

Alnylam’s commercial products include ONPATTRO (patisiran), an RNAi therapy for hereditary transthyretin-mediated amyloidosis with polyneuropathy; GIVLAARI (givosiran), for acute hepatic porphyria; OXLUMO (lumasiran), for primary hyperoxaluria type 1; and AMVUTTRA (vutrisiran), for transthyretin-mediated amyloidosis.