Alnylam Pharmaceuticals (NASDAQ:ALNY) Rating Increased to Buy at StockNews.com

Alnylam Pharmaceuticals (NASDAQ:ALNY) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

A number of other brokerages have also recently weighed in on ALNY. Wells Fargo & Company increased their price target on Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the stock an “equal weight” rating in a research report on Friday, March 21st. Scotiabank raised their target price on Alnylam Pharmaceuticals from $338.00 to $342.00 and gave the company a “sector outperform” rating in a research note on Monday, March 31st. Chardan Capital upped their price target on shares of Alnylam Pharmaceuticals from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Royal Bank of Canada lifted their price objective on shares of Alnylam Pharmaceuticals from $310.00 to $330.00 and gave the company an “outperform” rating in a research report on Friday, March 21st. Finally, Morgan Stanley decreased their target price on shares of Alnylam Pharmaceuticals from $284.00 to $268.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, Alnylam Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $319.17.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY opened at $252.00 on Thursday. The stock has a market capitalization of $32.86 billion, a PE ratio of -116.13 and a beta of 0.17. The business’s fifty day moving average price is $250.53 and its 200 day moving average price is $254.26. The company has a debt-to-equity ratio of 15.27, a current ratio of 2.78 and a quick ratio of 2.71. Alnylam Pharmaceuticals has a 12-month low of $144.73 and a 12-month high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.07). The firm had revenue of $594.19 million for the quarter, compared to analyst estimates of $584.32 million. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.16) earnings per share. Equities research analysts forecast that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Jeffrey V. Poulton sold 967 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 $246,749.39. Following the completion of the sale, the chief financial officer now owns 32,786 shares in the company, valued at $8,366,003.62. This represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Pushkal Garg sold 1,548 shares of Alnylam Pharmaceuticals stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $251.67, for a total value of $389,585.16. Following the transaction, the chief marketing officer now owns 11,989 shares in the company, valued at $3,017,271.63. This represents a 11.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,392 shares of company stock worth $1,875,627. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB boosted its holdings in shares of Alnylam Pharmaceuticals by 6.7% during the fourth quarter. Nordea Investment Management AB now owns 10,188 shares of the biopharmaceutical company’s stock worth $2,417,000 after purchasing an additional 637 shares during the period. Fulton Bank N.A. boosted its stake in shares of Alnylam Pharmaceuticals by 28.9% during the 4th quarter. Fulton Bank N.A. now owns 1,343 shares of the biopharmaceutical company’s stock valued at $316,000 after buying an additional 301 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Alnylam Pharmaceuticals by 0.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,512 shares of the biopharmaceutical company’s stock worth $1,532,000 after acquiring an additional 58 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Alnylam Pharmaceuticals by 2.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 2,650 shares of the biopharmaceutical company’s stock worth $624,000 after acquiring an additional 63 shares in the last quarter. Finally, Pallas Capital Advisors LLC boosted its position in Alnylam Pharmaceuticals by 2.6% during the fourth quarter. Pallas Capital Advisors LLC now owns 3,408 shares of the biopharmaceutical company’s stock valued at $802,000 after purchasing an additional 87 shares during the last quarter. 92.97% of the stock is currently owned by institutional investors and hedge funds.

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.