Alnylam Pharmaceuticals (NASDAQ:ALNY) Earns “Buy” Rating from Needham & Company LLC

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a report issued on Friday, Benzinga reports. They currently have a $320.00 price objective on the biopharmaceutical company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 16.83% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. Chardan Capital reaffirmed a “buy” rating and issued a $300.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday. Morgan Stanley lifted their price objective on Alnylam Pharmaceuticals from $250.00 to $255.00 and gave the company an “equal weight” rating in a research report on Friday, July 12th. Bank of America increased their target price 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. Raymond James raised their target price on shares of Alnylam Pharmaceuticals from $242.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group upgraded shares of Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price target for the stock from $198.00 to $370.00 in a research report on Friday, August 16th. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, Alnylam Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $294.50.

Alnylam Pharmaceuticals Stock Up 2.7 %

NASDAQ ALNY opened at $273.91 on Friday. The company has a 50-day moving average price of $274.61 and a 200-day moving average price of $225.87. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $304.39. The firm has a market capitalization of $35.16 billion, a P/E ratio of -104.55 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.61. The business had revenue of $659.83 million for the quarter, compared to analysts’ expectations of $447.22 million. The firm’s quarterly revenue was up 107.0% on a year-over-year basis. During the same period in the prior year, the company posted ($2.21) earnings per share. As a group, equities research analysts anticipate that Alnylam Pharmaceuticals will post -2.59 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its holdings in Alnylam Pharmaceuticals by 572.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 143 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Alnylam Pharmaceuticals during the 2nd quarter valued at about $26,000. Hollencrest Capital Management acquired a new position in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at about $29,000. Altitude Crest Partners Inc. purchased a new stake in shares of Alnylam Pharmaceuticals in the first quarter worth about $30,000. Finally, Washington Trust Advisors Inc. acquired a new stake in Alnylam Pharmaceuticals during the third quarter worth about $42,000. 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.