Needham & Company LLC Reiterates “Buy” Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research report issued on Thursday, Benzinga reports. They presently have a $320.00 price objective on the biopharmaceutical company’s stock. Needham & Company LLC’s price target suggests a potential upside of 12.55% from the stock’s previous close.

Several other equities analysts also recently commented on ALNY. TD Cowen upped their target price on Alnylam Pharmaceuticals from $260.00 to $282.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. HC Wainwright reissued a “buy” rating and set a $400.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, August 30th. Leerink Partners upped their price target on shares of Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the company a “market perform” rating in a research note on Tuesday, June 25th. JPMorgan Chase & Co. lifted their price objective on shares of Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, BMO Capital Markets restated an “outperform” rating and set a $234.00 target price on shares of Alnylam Pharmaceuticals in a research report on Monday, June 24th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $285.62.

Alnylam Pharmaceuticals Stock Up 2.0 %

Shares of NASDAQ ALNY opened at $284.32 on Thursday. The business’s 50 day moving average price is $269.10 and its two-hundred day moving average price is $211.70. The company has a market cap of $36.50 billion, a PE ratio of -473.86 and a beta of 0.39. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $287.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.61. The business had revenue of $659.83 million for the quarter, compared to analyst estimates of $447.22 million. During the same period in the prior year, the business earned ($2.21) EPS. The company’s revenue for the quarter was up 107.0% compared to the same quarter last year. As a group, research analysts anticipate that Alnylam Pharmaceuticals will post -2.73 EPS for the current fiscal year.

Insider Activity

In other Alnylam Pharmaceuticals news, Director Dennis A. Ausiello sold 20,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $262.00, for a total transaction of $5,305,500.00. Following the sale, the director now directly owns 136 shares of the company’s stock, valued at $35,632. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Alnylam Pharmaceuticals news, Director Dennis A. Ausiello sold 20,250 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $262.00, for a total transaction of $5,305,500.00. Following the completion of the sale, the director now owns 136 shares of the company’s stock, valued at approximately $35,632. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Yvonne Greenstreet sold 15,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total transaction of $4,200,000.00. Following the sale, the chief executive officer now directly owns 73,441 shares in the company, valued at $20,563,480. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,398 shares of company stock valued at $13,595,460 over the last quarter. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ALNY. Allspring Global Investments Holdings LLC increased its position in Alnylam Pharmaceuticals by 572.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 143 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Alnylam Pharmaceuticals during the second quarter worth approximately $26,000. Altitude Crest Partners Inc. bought a new position in shares of Alnylam Pharmaceuticals in the 1st quarter worth $30,000. V Square Quantitative Management LLC acquired a new stake in Alnylam Pharmaceuticals in the 4th quarter valued at $52,000. Finally, Meeder Asset Management Inc. increased its stake in Alnylam Pharmaceuticals by 1,237.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 321 shares of the biopharmaceutical company’s stock valued at $78,000 after purchasing an additional 297 shares in the last quarter. 92.97% of the stock is owned by institutional investors.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.