Zacks Research upgraded shares of Alnylam Pharmaceuticals (NASDAQ:ALNY – Free Report) from a hold rating to a strong-buy rating in a report published on Monday morning,Zacks reports.
Several other research firms have also commented on ALNY. BMO Capital Markets reissued an “outperform” rating on shares of Alnylam Pharmaceuticals in a research report on Monday, August 31st. Chardan Capital reaffirmed a “buy” rating and issued a $425.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday, July 31st. Wall Street Zen lowered shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Truist Financial decreased their target price on shares of Alnylam Pharmaceuticals from $410.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Finally, Sanford C. Bernstein reaffirmed a “buy” rating on shares of Alnylam Pharmaceuticals in a report on Monday, August 31st. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $366.90.
Read Our Latest Stock Report on Alnylam Pharmaceuticals
Alnylam Pharmaceuticals Stock Up 1.8%
Alnylam Pharmaceuticals (NASDAQ:ALNY – Get Free Report) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.21. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm posted ($0.51) EPS. The company’s revenue for the quarter was up 66.9% on a year-over-year basis. As a group, research analysts anticipate that Alnylam Pharmaceuticals will post 6.71 EPS for the current fiscal year.
Insiders Place Their Bets
In other Alnylam Pharmaceuticals news, EVP Bryan Supran sold 1,758 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $226.88, for a total transaction of $398,855.04. Following the transaction, the executive vice president owned 12,807 shares in the company, valued at approximately $2,905,652.16. This represents a 12.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.86% of the company’s stock.
Hedge Funds Weigh In On Alnylam Pharmaceuticals
Hedge funds have recently made changes to their positions in the company. Bank of Nova Scotia lifted its holdings in Alnylam Pharmaceuticals by 0.6% during the 1st quarter. Bank of Nova Scotia now owns 7,798 shares of the biopharmaceutical company’s stock worth $2,580,000 after buying an additional 49 shares in the last quarter. Prestige Wealth Management Group LLC lifted its stake in Alnylam Pharmaceuticals by 30.6% in the first quarter. Prestige Wealth Management Group LLC now owns 226 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 53 shares during the last quarter. Glenmede Trust Co. NA lifted its position in shares of Alnylam Pharmaceuticals by 8.3% during the 1st quarter. Glenmede Trust Co. NA now owns 731 shares of the biopharmaceutical company’s stock worth $242,000 after purchasing an additional 56 shares during the last quarter. MV Capital Management Inc. purchased a new stake in Alnylam Pharmaceuticals during the 4th quarter worth about $25,000. Finally, Parallel Advisors LLC increased its stake in Alnylam Pharmaceuticals by 7.9% in the first quarter. Parallel Advisors LLC now owns 891 shares of the biopharmaceutical company’s stock valued at $295,000 after purchasing an additional 65 shares during the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.
Alnylam Pharmaceuticals Company Profile
Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines based on RNA interference (RNAi), a biological process that can selectively reduce the production of disease-causing proteins. The company was founded in 2002 and is headquartered in Cambridge, Massachusetts.
Alnylam’s commercial products include ONPATTRO (patisiran), an RNAi therapy for hereditary transthyretin-mediated amyloidosis with polyneuropathy; GIVLAARI (givosiran), for acute hepatic porphyria; OXLUMO (lumasiran), for primary hyperoxaluria type 1; and AMVUTTRA (vutrisiran), for transthyretin-mediated amyloidosis.
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