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

Chardan Capital reiterated their buy rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a report issued on Friday,Benzinga reports. They currently have a $300.00 price objective on the biopharmaceutical company’s stock.

A number of other research analysts have also recently issued reports on the company. William Blair reiterated an “outperform” rating on shares of Alnylam Pharmaceuticals in a research report on Wednesday, February 26th. Bank of America lifted their target price on Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. lifted their target price on Alnylam Pharmaceuticals from $272.00 to $280.00 and gave the company a “neutral” rating in a research report on Tuesday, March 11th. Needham & Company LLC restated a “buy” rating and set a $320.00 price target on shares of Alnylam Pharmaceuticals in a report on Wednesday, February 26th. Finally, Sanford C. Bernstein reduced their price target on Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $310.22.

Alnylam Pharmaceuticals Stock Up 11.8 %

ALNY stock opened at $283.34 on Friday. The company has a market cap of $36.68 billion, a PE ratio of -130.57 and a beta of 0.39. The business has a 50-day simple moving average of $257.16 and a 200 day simple moving average of $259.74. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $304.39. The company has a quick ratio of 2.71, a current ratio of 2.78 and a debt-to-equity ratio of 15.27.

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

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, CMO Pushkal Garg sold 52,592 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $285.00, for a total transaction of $14,988,720.00. Following the transaction, the chief marketing officer now directly owns 11,989 shares of the company’s stock, valued at $3,416,865. This represents a 81.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Phillip A. Sharp sold 11,250 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $275.00, for a total value of $3,093,750.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,234 shares of company stock valued at $19,958,097. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC bought a new stake in Alnylam Pharmaceuticals during the fourth quarter worth $61,160,000. Strategic Financial Concepts LLC bought a new stake in Alnylam Pharmaceuticals during the fourth quarter worth $41,529,000. Truist Financial Corp grew its holdings in Alnylam Pharmaceuticals by 136.6% during the fourth quarter. Truist Financial Corp now owns 4,398 shares of the biopharmaceutical company’s stock worth $1,035,000 after buying an additional 2,539 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Alnylam Pharmaceuticals by 3.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 286,703 shares of the biopharmaceutical company’s stock valued at $67,464,000 after purchasing an additional 8,462 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in Alnylam Pharmaceuticals by 13.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 19,918 shares of the biopharmaceutical company’s stock valued at $4,687,000 after purchasing an additional 2,285 shares during the period. Institutional investors 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.