Needham & Company LLC Reiterates “Buy” Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Needham & Company LLC reissued their buy rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research note issued to investors on Thursday, Benzinga reports. They currently have a $200.00 price target on the biopharmaceutical company’s stock.

A number of other analysts have also weighed in on the company. Citigroup cut their price objective on Alnylam Pharmaceuticals from $237.00 to $227.00 and set a buy rating on the stock in a research report on Friday, February 16th. BMO Capital Markets reaffirmed an outperform rating and set a $234.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Wednesday, March 27th. Wolfe Research initiated coverage on Alnylam Pharmaceuticals in a research report on Thursday, February 15th. They set a peer perform rating on the stock. Royal Bank of Canada reaffirmed an outperform rating and set a $235.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Tuesday, February 20th. Finally, StockNews.com raised Alnylam Pharmaceuticals from a hold rating to a buy rating in a research report on Monday, April 29th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $215.88.

Alnylam Pharmaceuticals Stock Up 1.3 %

Shares of NASDAQ ALNY opened at $152.33 on Thursday. The firm has a market cap of $19.19 billion, a price-to-earnings ratio of -56.84 and a beta of 0.41. Alnylam Pharmaceuticals has a 52-week low of $141.98 and a 52-week high of $218.88. The business’s 50 day moving average is $149.65 and its two-hundred day moving average is $165.14.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.23. The firm had revenue of $494.33 million during the quarter, compared to analysts’ expectations of $428.01 million. During the same period in the previous year, the firm earned ($1.40) EPS. The firm’s revenue for the quarter was up 54.8% compared to the same quarter last year. Analysts anticipate that Alnylam Pharmaceuticals will post -4.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. Mediolanum International Funds Ltd acquired a new position in Alnylam Pharmaceuticals in the first quarter valued at $5,953,000. Central Pacific Bank Trust Division acquired a new position in Alnylam Pharmaceuticals in the first quarter valued at $161,000. Daiwa Securities Group Inc. boosted its stake in Alnylam Pharmaceuticals by 1.1% in the first quarter. Daiwa Securities Group Inc. now owns 10,921 shares of the biopharmaceutical company’s stock valued at $1,632,000 after acquiring an additional 116 shares in the last quarter. Nordea Investment Management AB boosted its stake in Alnylam Pharmaceuticals by 3.3% in the first quarter. Nordea Investment Management AB now owns 8,980 shares of the biopharmaceutical company’s stock valued at $1,365,000 after acquiring an additional 290 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its stake in Alnylam Pharmaceuticals by 7.7% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,849 shares of the biopharmaceutical company’s stock valued at $575,000 after acquiring an additional 274 shares in the last quarter. 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.