Alnylam Pharmaceuticals (NASDAQ:ALNY) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday.

A number of other brokerages have also issued reports on ALNY. Weiss Ratings upgraded shares of Alnylam Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Wells Fargo & Company boosted their target price on shares of Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Bank of America cut their price target on shares of Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. JPMorgan Chase & Co. lowered their price objective on shares of Alnylam Pharmaceuticals from $420.00 to $400.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, HC Wainwright raised their target price on Alnylam Pharmaceuticals from $470.00 to $485.00 and gave the company a “buy” rating in a report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $452.13.

Alnylam Pharmaceuticals Trading Up 1.1%

Shares of NASDAQ:ALNY opened at $271.77 on Friday. Alnylam Pharmaceuticals has a 12-month low of $262.21 and a 12-month high of $495.55. The business has a 50 day moving average of $292.22 and a 200-day moving average of $316.64. The company has a quick ratio of 3.06, a current ratio of 3.13 and a debt-to-equity ratio of 0.94. The stock has a market cap of $36.28 billion, a PE ratio of 74.25 and a beta of 0.27.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $1.12. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the company posted ($0.44) EPS. The firm’s quarterly revenue was up 96.4% on a year-over-year basis. As a group, equities research analysts forecast that Alnylam Pharmaceuticals will post 7.35 earnings per share for the current year.

Insider Activity

In related news, Director David E. I. Pyott sold 3,830 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $299.18, for a total value of $1,145,859.40. Following the completion of the transaction, the director owned 1,582 shares in the company, valued at $473,302.76. This trade represents a 70.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is owned by corporate insiders.

Institutional Trading of Alnylam Pharmaceuticals

Several institutional investors have recently modified their holdings of ALNY. Assenagon Asset Management S.A. lifted its holdings in Alnylam Pharmaceuticals by 20.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 155,695 shares of the biopharmaceutical company’s stock worth $46,869,000 after buying an additional 26,799 shares during the period. Parallel Advisors LLC raised its holdings in Alnylam Pharmaceuticals by 7.9% during the 1st quarter. Parallel Advisors LLC now owns 891 shares of the biopharmaceutical company’s stock worth $295,000 after purchasing an additional 65 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Alnylam Pharmaceuticals by 8.3% in the 1st quarter. Glenmede Trust Co. NA now owns 731 shares of the biopharmaceutical company’s stock valued at $242,000 after purchasing an additional 56 shares during the last quarter. Groupama Asset Managment increased its position in shares of Alnylam Pharmaceuticals by 2.5% during the first quarter. Groupama Asset Managment now owns 36,767 shares of the biopharmaceutical company’s stock worth $12,165,000 after buying an additional 889 shares during the period. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Alnylam Pharmaceuticals during the first quarter worth $641,000. Institutional investors own 92.97% of the company’s stock.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc (NASDAQ: ALNY) is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.