Alnylam Pharmaceuticals (NASDAQ:ALNY) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a report published on Monday morning, MarketBeat Ratings reports. The brokerage currently has a $400.00 price objective on the biopharmaceutical company’s stock.

A number of other brokerages have also issued reports on ALNY. Canaccord Genuity Group raised their target price on shares of Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Chardan Capital reiterated a “buy” rating and issued a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. TD Cowen lifted their price objective on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Scotiabank raised their target price on Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group raised Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their target price for the company from $198.00 to $370.00 in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $298.09.

Alnylam Pharmaceuticals Stock Down 0.7 %

Shares of NASDAQ:ALNY opened at $247.05 on Monday. The firm’s 50 day moving average price is $273.54 and its 200 day moving average price is $236.84. The stock has a market cap of $31.86 billion, a price-to-earnings ratio of -94.29 and a beta of 0.39. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $304.39. The company has a quick ratio of 2.69, a current ratio of 2.75 and a debt-to-equity ratio of 31.64.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.36). The business had revenue of $500.90 million for the quarter, compared to the consensus estimate of $532.91 million. The firm’s revenue was down 33.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.15 EPS. As a group, equities research analysts predict that Alnylam Pharmaceuticals will post -2.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in ALNY. Allspring Global Investments Holdings LLC grew its holdings in shares of 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 acquiring an additional 143 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Alnylam Pharmaceuticals by 47.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 2,775 shares of the biopharmaceutical company’s stock valued at $415,000 after buying an additional 892 shares during the period. Vanguard Group Inc. increased its stake in shares of Alnylam Pharmaceuticals by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 11,994,261 shares of the biopharmaceutical company’s stock valued at $1,792,542,000 after purchasing an additional 50,366 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Alnylam Pharmaceuticals by 30.3% in the 1st quarter. Acadian Asset Management LLC now owns 1,659 shares of the biopharmaceutical company’s stock valued at $247,000 after purchasing an additional 386 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of Alnylam Pharmaceuticals in the 1st quarter valued at $274,000. 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.