Alnylam Pharmaceuticals’ (ALNY) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a report published on Monday morning,Benzinga reports. HC Wainwright currently has a $455.00 price target on the biopharmaceutical company’s stock.

Several other research firms have also recently weighed in on ALNY. Weiss Ratings upgraded Alnylam Pharmaceuticals from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Chardan Capital restated a “buy” rating and set a $425.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, July 31st. Wall Street Zen lowered shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Stifel Nicolaus reduced their price target on shares of Alnylam Pharmaceuticals from $444.00 to $318.00 and set a “buy” rating for the company in a report on Friday, July 31st. Finally, Royal Bank Of Canada lowered their price objective on shares of Alnylam Pharmaceuticals from $445.00 to $350.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $367.20.

Alnylam Pharmaceuticals Price Performance

ALNY opened at $246.51 on Monday. The company has a quick ratio of 2.99, a current ratio of 3.05 and a debt-to-equity ratio of 0.75. Alnylam Pharmaceuticals has a 12 month low of $197.81 and a 12 month high of $495.55. The company has a fifty day simple moving average of $245.17 and a 200 day simple moving average of $284.05. The stock has a market cap of $32.99 billion, a P/E ratio of 45.82 and a beta of 0.31.

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

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. SCS Capital Management LLC acquired a new position in shares of Alnylam Pharmaceuticals during the 2nd quarter worth about $34,784,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Alnylam Pharmaceuticals during the second quarter worth about $50,773,000. Hsbc Holdings PLC grew its holdings in Alnylam Pharmaceuticals by 22.6% during the fourth quarter. Hsbc Holdings PLC now owns 89,517 shares of the biopharmaceutical company’s stock worth $35,675,000 after purchasing an additional 16,503 shares during the period. Keystone Investors PTE Ltd. acquired a new position in Alnylam Pharmaceuticals during the fourth quarter worth approximately $3,531,000. Finally, Silvant Capital Management LLC bought a new stake in Alnylam Pharmaceuticals in the second quarter valued at approximately $5,456,000. 92.97% of the stock is owned by institutional investors.

About Alnylam Pharmaceuticals

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).