Alnylam Pharmaceuticals (NASDAQ:ALNY) Upgraded by StockNews.com to Buy

Alnylam Pharmaceuticals (NASDAQ:ALNYGet Free Report) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

ALNY has been the topic of several other research reports. The Goldman Sachs Group downgraded shares of Alnylam Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their target price for the company from $230.00 to $173.00 in a report on Friday, February 16th. Piper Sandler boosted their price objective on shares of Alnylam Pharmaceuticals from $210.00 to $217.00 and gave the stock an “overweight” rating in a report on Thursday, December 14th. Chardan Capital decreased their price objective on shares of Alnylam Pharmaceuticals from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Citigroup decreased their price objective on shares of Alnylam Pharmaceuticals from $237.00 to $227.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $235.00 price objective on shares of Alnylam Pharmaceuticals in a report on Tuesday, February 20th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.12.

Check Out Our Latest Report on ALNY

Alnylam Pharmaceuticals Stock Down 0.1 %

Shares of NASDAQ:ALNY opened at $146.51 on Friday. The company has a market cap of $18.45 billion, a price-to-earnings ratio of -41.15 and a beta of 0.39. The firm’s 50-day simple moving average is $163.22 and its 200-day simple moving average is $171.64. Alnylam Pharmaceuticals has a fifty-two week low of $143.52 and a fifty-two week high of $218.88.

Alnylam Pharmaceuticals (NASDAQ:ALNYGet Free Report) last issued its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.10) earnings per share for the quarter, beating the consensus estimate of ($1.20) by $0.10. The firm had revenue of $439.72 million during the quarter, compared to analysts’ expectations of $439.38 million. The firm’s revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.68) EPS. On average, research analysts forecast that Alnylam Pharmaceuticals will post -4.61 EPS for the current year.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, Director Michael W. Bonney sold 30,000 shares of the stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $195.00, for a total transaction of $5,850,000.00. Following the transaction, the director now owns 16,029 shares of the company’s stock, valued at $3,125,655. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of hedge funds have recently made changes to their positions in ALNY. Norges Bank purchased a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at $390,438,000. Capital International Investors grew its holdings in Alnylam Pharmaceuticals by 15.8% during the 4th quarter. Capital International Investors now owns 3,586,657 shares of the biopharmaceutical company’s stock valued at $686,641,000 after purchasing an additional 488,814 shares in the last quarter. Wellington Management Group LLP grew its holdings in Alnylam Pharmaceuticals by 6.0% during the 3rd quarter. Wellington Management Group LLP now owns 6,431,814 shares of the biopharmaceutical company’s stock valued at $1,139,074,000 after purchasing an additional 364,021 shares in the last quarter. Vanguard Group Inc. grew its holdings in Alnylam Pharmaceuticals by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock valued at $2,286,181,000 after purchasing an additional 287,064 shares in the last quarter. Finally, Eaton Vance Management grew its holdings in Alnylam Pharmaceuticals by 606.7% during the 1st quarter. Eaton Vance Management now owns 306,228 shares of the biopharmaceutical company’s stock valued at $50,005,000 after purchasing an additional 262,893 shares in the last quarter. Hedge funds and other institutional investors own 93.98% of the company’s stock.

About Alnylam Pharmaceuticals

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Alnylam Pharmaceuticals (NASDAQ:ALNY)

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