Alnylam Pharmaceuticals’ (ALNY) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research report report published on Friday morning,Benzinga reports. They currently have a $320.00 target price on the biopharmaceutical company’s stock.

Other research analysts have also issued research reports about the stock. Barclays upped their price objective on shares of Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. TD Cowen upped their price objective on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the company a “buy” rating in a research report on Monday, October 21st. William Blair reissued an “outperform” rating on shares of Alnylam Pharmaceuticals in a research note on Tuesday, November 19th. StockNews.com cut shares of Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, Canaccord Genuity Group upped their target price on shares of Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $299.43.

Alnylam Pharmaceuticals Stock Down 3.2 %

Shares of ALNY opened at $256.45 on Friday. The company has a 50-day simple moving average of $254.03 and a 200-day simple moving average of $263.53. The firm has a market capitalization of $33.08 billion, a P/E ratio of -97.88 and a beta of 0.35. The company has a debt-to-equity ratio of 31.64, a quick ratio of 2.69 and a current ratio of 2.75. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). On average, equities research analysts expect that Alnylam Pharmaceuticals will post -2.24 earnings per share for the current year.

Insider Activity

In other news, CMO Pushkal Garg sold 1,682 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total transaction of $422,148.36. Following the sale, the chief marketing officer now directly owns 17,457 shares of the company’s stock, valued at $4,381,357.86. This represents a 8.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Yvonne Greenstreet sold 5,219 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total transaction of $1,309,864.62. Following the completion of the transaction, the chief executive officer now owns 78,880 shares in the company, valued at $19,797,302.40. This represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,964 shares of company stock valued at $20,622,925 over the last three months. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Large investors have recently bought and sold shares of the business. Jennison Associates LLC acquired a new position in Alnylam Pharmaceuticals in the fourth quarter valued at approximately $61,160,000. Strategic Financial Concepts LLC acquired a new position in Alnylam Pharmaceuticals in the fourth quarter valued at approximately $41,529,000. Los Angeles Capital Management LLC lifted its holdings in Alnylam Pharmaceuticals by 11,433.4% in the third quarter. Los Angeles Capital Management LLC now owns 137,017 shares of the biopharmaceutical company’s stock valued at $37,684,000 after buying an additional 135,829 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Alnylam Pharmaceuticals by 13.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,918 shares of the biopharmaceutical company’s stock valued at $4,687,000 after buying an additional 2,285 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Alnylam Pharmaceuticals by 3.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 286,703 shares of the biopharmaceutical company’s stock valued at $67,464,000 after buying an additional 8,462 shares during the period. 92.97% of the stock is currently owned by institutional investors and hedge funds.

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.