Alnylam Pharmaceuticals (NASDAQ:ALNY – Get Free Report) was upgraded by research analysts at UBS Group to a “strong-buy” rating in a report released on Wednesday, Zacks reports.
Other equities analysts also recently issued reports about the stock. Sanford C. Bernstein reiterated a “buy” rating on shares of Alnylam Pharmaceuticals in a report on Monday, August 31st. Needham & Company LLC reduced their price objective on shares of Alnylam Pharmaceuticals from $510.00 to $357.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Chardan Capital reissued a “buy” rating and issued a $425.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday, July 31st. Jefferies Financial Group boosted their target price on Alnylam Pharmaceuticals from $230.00 to $260.00 and gave the company a “hold” rating in a research report on Tuesday, September 8th. Finally, Bank of America dropped their target price on Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Four analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Alnylam Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $364.95.
Read Our Latest Research Report on Alnylam Pharmaceuticals
Alnylam Pharmaceuticals Trading Down 0.9%
ALNY stock traded down $2.20 during mid-day trading on Wednesday, reaching $231.83. 1,404,802 shares of the stock traded hands, compared to its average volume of 1,301,571. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.99 and a current ratio of 3.05. Alnylam Pharmaceuticals has a one year low of $197.81 and a one year high of $495.55. The stock has a market capitalization of $31.02 billion, a PE ratio of 43.09 and a beta of 0.28. The business has a 50-day moving average price of $239.35 and a two-hundred day moving average price of $274.34.
Alnylam Pharmaceuticals (NASDAQ:ALNY – Get Free Report) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.21. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.32 billion. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The business’s revenue for the quarter was up 66.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.51) earnings per share. Equities research analysts expect that Alnylam Pharmaceuticals will post 6.68 EPS for the current year.
Insider Buying and Selling at Alnylam Pharmaceuticals
In other news, EVP Bryan Supran sold 1,758 shares of Alnylam Pharmaceuticals stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $226.88, for a total transaction of $398,855.04. Following the completion of the sale, the executive vice president directly owned 12,807 shares in the company, valued at approximately $2,905,652.16. This trade represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.86% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Bank of Nova Scotia increased its stake in Alnylam Pharmaceuticals by 0.6% in 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 during the period. Prestige Wealth Management Group LLC boosted its position in Alnylam Pharmaceuticals by 30.6% in the 1st quarter. Prestige Wealth Management Group LLC now owns 226 shares of the biopharmaceutical company’s stock valued at $75,000 after buying an additional 53 shares during the period. Fortitude Family Office LLC boosted its position in Alnylam Pharmaceuticals by 10.5% in the 3rd quarter. Fortitude Family Office LLC now owns 578 shares of the biopharmaceutical company’s stock valued at $143,000 after buying an additional 55 shares during the period. Glenmede Trust Co. NA grew its stake in Alnylam Pharmaceuticals by 8.3% in the 1st quarter. Glenmede Trust Co. NA now owns 731 shares of the biopharmaceutical company’s stock worth $242,000 after acquiring an additional 56 shares in the last quarter. Finally, MV Capital Management Inc. bought a new position in Alnylam Pharmaceuticals in the 4th quarter worth about $25,000. 92.97% of the stock is currently owned by institutional investors.
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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