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

Needham & Company LLC reiterated their buy rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research note released on Friday,Benzinga reports. The brokerage currently has a $320.00 price target on the biopharmaceutical company’s stock.

A number of other research firms have also recently issued reports on ALNY. William Blair reissued an “outperform” rating on shares of Alnylam Pharmaceuticals in a research note on Wednesday, February 26th. Morgan Stanley increased their target price on Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Canaccord Genuity Group increased their target price on Alnylam Pharmaceuticals from $384.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Scotiabank lowered their target price on Alnylam Pharmaceuticals from $310.00 to $300.00 and set a “sector outperform” rating for the company in a research note on Friday, February 14th. Finally, Sanford C. Bernstein lowered their target price on Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $310.22.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY stock opened at $283.34 on Friday. The company has a debt-to-equity ratio of 15.27, a current ratio of 2.78 and a quick ratio of 2.71. The stock has a market cap of $36.68 billion, a PE ratio of -130.57 and a beta of 0.39. The stock has a 50-day moving average of $257.16 and a 200-day moving average of $259.74. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). As a group, sell-side analysts expect that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Activity

In other news, CMO Pushkal Garg sold 52,592 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $285.00, for a total value of $14,988,720.00. Following the completion of the sale, the chief marketing officer now owns 11,989 shares of the company’s stock, valued at approximately $3,416,865. This represents a 81.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Phillip A. Sharp sold 11,250 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $275.00, for a total value of $3,093,750.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,234 shares of company stock valued at $19,958,097. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several large investors have recently made changes to their positions in ALNY. Allworth Financial LP raised its stake in Alnylam Pharmaceuticals by 6.8% in the 4th quarter. Allworth Financial LP now owns 597 shares of the biopharmaceutical company’s stock valued at $140,000 after acquiring an additional 38 shares during the period. Investment Management Corp of Ontario raised its stake in Alnylam Pharmaceuticals by 0.6% in the 4th quarter. Investment Management Corp of Ontario now owns 7,099 shares of the biopharmaceutical company’s stock valued at $1,670,000 after acquiring an additional 40 shares during the period. Nixon Peabody Trust Co. raised its stake in Alnylam Pharmaceuticals by 1.9% in the 4th quarter. Nixon Peabody Trust Co. now owns 2,293 shares of the biopharmaceutical company’s stock valued at $540,000 after acquiring an additional 43 shares during the period. Brevan Howard Capital Management LP raised its stake in Alnylam Pharmaceuticals by 3.4% in the 4th quarter. Brevan Howard Capital Management LP now owns 1,333 shares of the biopharmaceutical company’s stock valued at $314,000 after acquiring an additional 44 shares during the period. Finally, IFP Advisors Inc raised its stake in Alnylam Pharmaceuticals by 24.2% in the 4th quarter. IFP Advisors Inc now owns 241 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 92.97% of the company’s stock.

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.