Alnylam Pharmaceuticals’ (ALNY) Buy Rating Reiterated at Chardan Capital

Chardan Capital reissued their buy rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research report report published on Friday, Benzinga reports. Chardan Capital currently has a $225.00 price objective on the biopharmaceutical company’s stock.

A number of other research firms have also recently commented on ALNY. 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. StockNews.com raised shares of Alnylam Pharmaceuticals from a hold rating to a buy rating in a research report on Monday, April 29th. Wolfe Research assumed coverage on shares of Alnylam Pharmaceuticals in a research report on Thursday, February 15th. They set a peer perform rating for the company. Citigroup reduced their price objective on shares of Alnylam Pharmaceuticals from $237.00 to $227.00 and set a buy rating for the company in a research report on Friday, February 16th. Finally, Wells Fargo & Company reduced their price objective on shares of Alnylam Pharmaceuticals from $171.00 to $161.00 and set an equal weight rating for the company in a research report on Friday, February 16th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $215.88.

Alnylam Pharmaceuticals Trading Up 1.3 %

NASDAQ:ALNY opened at $152.33 on Friday. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $218.88. The firm has a fifty day simple moving average of $149.65 and a 200 day simple moving average of $165.14. The stock has a market capitalization of $19.19 billion, a PE ratio of -56.84 and a beta of 0.41.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.23. The firm had revenue of $494.33 million during the quarter, compared to the consensus estimate of $428.01 million. During the same period in the prior year, the business posted ($1.40) earnings per share. Alnylam Pharmaceuticals’s quarterly revenue was up 54.8% compared to the same quarter last year. On average, equities analysts predict that Alnylam Pharmaceuticals will post -4.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Alnylam Pharmaceuticals by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock worth $2,286,181,000 after acquiring an additional 287,064 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Alnylam Pharmaceuticals by 6.0% during the third quarter. Wellington Management Group LLP now owns 6,431,814 shares of the biopharmaceutical company’s stock worth $1,139,074,000 after purchasing an additional 364,021 shares during the last quarter. Capital International Investors grew its holdings in shares of Alnylam Pharmaceuticals by 15.8% during the fourth quarter. Capital International Investors now owns 3,586,657 shares of the biopharmaceutical company’s stock worth $686,641,000 after purchasing an additional 488,814 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Alnylam Pharmaceuticals by 5.3% during the fourth quarter. Capital Research Global Investors now owns 2,930,079 shares of the biopharmaceutical company’s stock worth $560,880,000 after purchasing an additional 146,236 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter worth about $390,438,000. 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.