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

StockNews.com upgraded shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) from a hold rating to a buy rating in a report issued on Wednesday.

Several other brokerages have also recently issued reports on ALNY. Needham & Company LLC restated a “buy” rating and set a $320.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday, November 1st. Piper Sandler reiterated an “overweight” rating and set a $296.00 target price on shares of Alnylam Pharmaceuticals in a research note on Monday, November 18th. Bank of America raised their price target on shares of Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Barclays boosted their price objective on shares of Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $298.09.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY opened at $237.92 on Wednesday. The firm has a market cap of $30.69 billion, a price-to-earnings ratio of -90.81 and a beta of 0.32. The company has a quick ratio of 2.69, a current ratio of 2.75 and a debt-to-equity ratio of 31.64. The business’s 50 day moving average is $266.06 and its two-hundred day moving average is $250.92. Alnylam Pharmaceuticals has a 52-week low of $141.98 and a 52-week high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates 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. Alnylam Pharmaceuticals’s revenue was down 33.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.15 EPS. Analysts forecast that Alnylam Pharmaceuticals will post -2.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Tolga Tanguler sold 1,469 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total transaction of $368,689.62. Following the transaction, the executive vice president now directly owns 13,191 shares of the company’s stock, valued at approximately $3,310,677.18. The trade was a 10.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Yvonne Greenstreet sold 5,219 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total value of $1,309,864.62. Following the sale, the chief executive officer now owns 78,880 shares of the company’s stock, valued at $19,797,302.40. The trade was a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,122 shares of company stock worth $2,540,455. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. American Trust acquired a new position in Alnylam Pharmaceuticals in the 3rd quarter valued at approximately $309,000. Tidal Investments LLC grew its holdings in shares of Alnylam Pharmaceuticals by 75.1% during the 3rd quarter. Tidal Investments LLC now owns 20,544 shares of the biopharmaceutical company’s stock valued at $5,650,000 after acquiring an additional 8,811 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of Alnylam Pharmaceuticals by 91.8% in the third quarter. Sanctuary Advisors LLC now owns 4,558 shares of the biopharmaceutical company’s stock worth $1,254,000 after acquiring an additional 2,181 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Alnylam Pharmaceuticals by 4.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 34,713 shares of the biopharmaceutical company’s stock worth $9,547,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in Alnylam Pharmaceuticals by 27.3% during the third quarter. Toronto Dominion Bank now owns 15,466 shares of the biopharmaceutical company’s stock valued at $4,254,000 after purchasing an additional 3,315 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.