Alnylam Pharmaceuticals (NASDAQ:ALNY) Research Coverage Started at UBS Group

UBS Group assumed coverage on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research report sent to investors on Thursday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $354.00 price objective on the biopharmaceutical company’s stock.

Several other analysts have also recently weighed in on ALNY. JPMorgan Chase & Co. dropped their price target on shares of Alnylam Pharmaceuticals from $375.00 to $369.00 and set an “overweight” rating for the company in a research note on Wednesday, September 30th. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Alnylam Pharmaceuticals in a research report on Monday, August 31st. Truist Financial reduced their price target on shares of Alnylam Pharmaceuticals from $410.00 to $315.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Raymond James Financial upgraded Alnylam Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and set a $420.00 price objective on the stock in a report on Monday, August 3rd. Finally, Zacks Research upgraded Alnylam Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Four analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $364.95.

Alnylam Pharmaceuticals Trading Down 0.9%

Shares of ALNY stock opened at $231.83 on Thursday. The company’s 50-day moving average price is $239.35 and its 200-day moving average price is $274.34. The company has a current ratio of 3.05, a quick ratio of 2.99 and a debt-to-equity ratio of 0.75. The stock has a market cap of $31.02 billion, a price-to-earnings ratio of 43.09 and a beta of 0.28. Alnylam Pharmaceuticals has a twelve month low of $197.81 and a twelve month high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.21. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the business earned ($0.51) earnings per share. Alnylam Pharmaceuticals’s revenue was up 66.9% compared to the same quarter last year. As a group, equities analysts predict that Alnylam Pharmaceuticals will post 6.68 earnings per share for the current year.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, EVP Bryan Supran sold 1,758 shares of Alnylam Pharmaceuticals stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $226.88, for a total transaction of $398,855.04. Following the completion of the sale, the executive vice president directly owned 12,807 shares in the company, valued at $2,905,652.16. This trade represents a 12.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several large investors have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in Alnylam Pharmaceuticals by 9.0% during the second quarter. Wellington Management Group LLP now owns 2,110,407 shares of the biopharmaceutical company’s stock worth $635,296,000 after purchasing an additional 174,482 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Alnylam Pharmaceuticals in the second quarter valued at $278,321,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Alnylam Pharmaceuticals by 7.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,848 shares of the biopharmaceutical company’s stock valued at $219,104,000 after buying an additional 50,329 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Alnylam Pharmaceuticals in the second quarter valued at $148,128,000. Finally, Swiss National Bank raised its holdings in shares of Alnylam Pharmaceuticals by 7.9% in the 1st quarter. Swiss National Bank now owns 387,720 shares of the biopharmaceutical company’s stock valued at $128,285,000 after buying an additional 28,520 shares during the period. 92.97% of the stock is currently owned by institutional investors and hedge funds.

Alnylam Pharmaceuticals Company Profile

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.