Piper Sandler Reiterates “Overweight” Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Piper Sandler restated their overweight rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research report sent to investors on Monday,Benzinga reports. They currently have a $296.00 price target on the biopharmaceutical company’s stock.

Several other research firms have also recently weighed in on ALNY. Raymond James lifted their price target on Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Royal Bank of Canada reissued an “outperform” rating and set a $300.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. Chardan Capital reissued a “buy” rating and set a $300.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. Wells Fargo & Company boosted their price objective on Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, Bank of America boosted their price objective on Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $298.09.

Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ ALNY opened at $248.79 on Monday. The company has a market capitalization of $32.09 billion, a P/E ratio of -94.96 and a beta of 0.39. The stock has a 50 day moving average of $273.83 and a 200-day moving average of $236.76. The company has a current ratio of 2.75, a quick ratio of 2.69 and a debt-to-equity ratio of 31.64. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $304.39.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ALNY. Vanguard Group Inc. boosted its position 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 worth $1,792,542,000 after purchasing an additional 50,366 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Alnylam Pharmaceuticals by 5.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock valued at $550,837,000 after buying an additional 201,784 shares during the period. Capital International Investors increased its stake in shares of Alnylam Pharmaceuticals by 1.8% in the 1st quarter. Capital International Investors now owns 3,651,217 shares of the biopharmaceutical company’s stock worth $545,674,000 after purchasing an additional 64,560 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Alnylam Pharmaceuticals by 7.3% in the 1st quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock worth $470,018,000 after purchasing an additional 214,908 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Alnylam Pharmaceuticals by 3.2% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 92.97% of the company’s stock.

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.