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

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a report released on Monday,Benzinga reports. They presently have a $320.00 price target on the biopharmaceutical company’s stock. Needham & Company LLC’s price objective points to a potential upside of 33.05% from the stock’s previous close.

ALNY has been the subject of a number of other research reports. Bank of America upped their price target on shares of Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Piper Sandler reissued an “overweight” rating and issued a $296.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Monday, November 18th. Raymond James raised their price target on shares of Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com lowered Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $300.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $298.61.

Alnylam Pharmaceuticals Stock Down 6.9 %

Alnylam Pharmaceuticals stock opened at $240.51 on Monday. The company has a debt-to-equity ratio of 31.64, a current ratio of 2.75 and a quick ratio of 2.69. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $304.39. The company’s 50 day simple moving average is $248.64 and its 200 day simple moving average is $259.83. The firm has a market capitalization of $31.02 billion, a price-to-earnings ratio of -91.80 and a beta of 0.34.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued 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 analysts’ expectations of $532.91 million. Alnylam Pharmaceuticals’s quarterly revenue was down 33.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 earnings per share. As a group, sell-side analysts anticipate that Alnylam Pharmaceuticals will post -2.21 EPS for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, CMO Pushkal Garg sold 1,752 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $251.00, for a total transaction of $439,752.00. Following the sale, the chief marketing officer now directly owns 15,705 shares of the company’s stock, valued at $3,941,955. This represents a 10.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Yvonne Greenstreet sold 5,219 shares of Alnylam Pharmaceuticals stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total value of $1,309,864.62. Following the completion of the transaction, the chief executive officer now owns 78,880 shares of the company’s stock, valued at approximately $19,797,302.40. This trade represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,122 shares of company stock worth $2,540,455 in the last ninety days. 1.50% of the stock is owned by insiders.

Institutional Trading of Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in ALNY. Geode Capital Management LLC raised its stake in shares of Alnylam Pharmaceuticals by 3.2% during the third quarter. Geode Capital Management LLC now owns 2,147,203 shares of the biopharmaceutical company’s stock worth $589,209,000 after purchasing an additional 66,928 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Alnylam Pharmaceuticals by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 487,348 shares of the biopharmaceutical company’s stock valued at $134,035,000 after buying an additional 16,756 shares during the last quarter. Avoro Capital Advisors LLC increased its stake in Alnylam Pharmaceuticals by 33.3% in the 2nd quarter. Avoro Capital Advisors LLC now owns 400,000 shares of the biopharmaceutical company’s stock valued at $97,200,000 after buying an additional 100,000 shares during the period. Swiss National Bank raised its position in Alnylam Pharmaceuticals by 0.3% during the 3rd quarter. Swiss National Bank now owns 375,400 shares of the biopharmaceutical company’s stock worth $103,246,000 after buying an additional 1,000 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its stake in shares of Alnylam Pharmaceuticals by 25.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 309,589 shares of the biopharmaceutical company’s stock worth $85,889,000 after acquiring an additional 63,385 shares during the period. 92.97% of the stock is owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Company Profile

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.