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

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

Other equities analysts also recently issued research reports about the company. Barclays upped their price target on Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. StockNews.com downgraded Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Scotiabank reduced their price target on Alnylam Pharmaceuticals from $310.00 to $300.00 and set a “sector outperform” rating for the company in a research report on Friday, February 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 price target on shares of Alnylam Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Piper Sandler reiterated an “overweight” rating and set a $296.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.26.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY opened at $246.75 on Wednesday. The company has a debt-to-equity ratio of 15.27, a quick ratio of 2.71 and a current ratio of 2.78. The stock has a 50 day simple moving average of $254.30 and a 200 day simple moving average of $262.42. Alnylam Pharmaceuticals has a 52-week low of $141.98 and a 52-week high of $304.39. The firm has a market capitalization of $31.94 billion, a PE ratio of -113.71 and a beta of 0.35.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). Sell-side analysts predict that Alnylam Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, EVP Kevin Joseph Fitzgerald sold 663 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $255.21, for a total transaction of $169,204.23. Following the transaction, the executive vice president now owns 14,321 shares in the company, valued at $3,654,862.41. This trade represents a 4.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Yvonne Greenstreet sold 1,213 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $255.17, for a total value of $309,521.21. Following the transaction, the chief executive officer now owns 81,526 shares in the company, valued at $20,802,989.42. The trade was a 1.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,986 shares of company stock worth $20,397,849 in the last 90 days. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Several large investors have recently modified their holdings of ALNY. Allspring Global Investments Holdings LLC grew its holdings in shares of Alnylam Pharmaceuticals by 62.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 420 shares of the biopharmaceutical company’s stock worth $116,000 after purchasing an additional 161 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Alnylam Pharmaceuticals by 56.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,454 shares of the biopharmaceutical company’s stock worth $1,775,000 after purchasing an additional 2,323 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Alnylam Pharmaceuticals by 41.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,528 shares of the biopharmaceutical company’s stock worth $3,171,000 after purchasing an additional 3,373 shares in the last quarter. Pallas Capital Advisors LLC grew its holdings in shares of Alnylam Pharmaceuticals by 61.8% during the 3rd quarter. Pallas Capital Advisors LLC now owns 3,321 shares of the biopharmaceutical company’s stock worth $975,000 after purchasing an additional 1,269 shares in the last quarter. Finally, New York State Teachers Retirement System acquired a new stake in Alnylam Pharmaceuticals in the third quarter valued at about $1,453,000. 92.97% of the stock is 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.