Alnylam Pharmaceuticals (NASDAQ:ALNY) Receives Buy Rating from HC Wainwright

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They presently have a $400.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 72.84% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Canaccord Genuity Group lifted their price target on shares of Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the company a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their price target on Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Wolfe Research lowered shares of Alnylam Pharmaceuticals from a “peer perform” rating to an “underperform” rating in a research note on Tuesday, November 12th. Scotiabank boosted their target price on Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company lifted their price target on Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $298.09.

Alnylam Pharmaceuticals Trading Down 1.8 %

NASDAQ ALNY traded down $4.13 during mid-day trading on Monday, reaching $231.43. 630,521 shares of the stock were exchanged, compared to its average volume of 874,127. The stock has a market cap of $29.85 billion, a P/E ratio of -88.47 and a beta of 0.39. The company has a debt-to-equity ratio of 31.64, a current ratio of 2.75 and a quick ratio of 2.69. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $304.39. The stock has a 50 day simple moving average of $274.95 and a 200-day simple moving average of $235.53.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.36). The business had revenue of $500.90 million for the quarter, compared to analysts’ expectations of $532.91 million. The company’s quarterly revenue was down 33.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.15 earnings per share. On average, analysts anticipate that Alnylam Pharmaceuticals will post -2.22 EPS for the current year.

Insider Activity at Alnylam Pharmaceuticals

In related news, CEO Yvonne Greenstreet sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total transaction of $4,200,000.00. Following the completion of the transaction, the chief executive officer now owns 73,441 shares in the company, valued at $20,563,480. This represents a 16.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ALNY. Huntington National Bank increased its position in shares of Alnylam Pharmaceuticals by 91.8% during the third quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 45 shares during the period. Hollencrest Capital Management bought a new position in Alnylam Pharmaceuticals in the third quarter worth $29,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Alnylam Pharmaceuticals in the 2nd quarter worth about $26,000. Washington Trust Advisors Inc. purchased a new position in Alnylam Pharmaceuticals during the 3rd quarter valued at about $42,000. Finally, True Wealth Design LLC boosted its stake in Alnylam Pharmaceuticals by 15,300.0% during the third quarter. True Wealth Design LLC now owns 154 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 153 shares in the last quarter. 92.97% of the stock is owned by hedge funds and other institutional investors.

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.