Alnylam Pharmaceuticals (NASDAQ:ALNY) Receives Buy Rating from Needham & Company LLC

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

Several other equities research analysts also recently commented on ALNY. Wolfe Research downgraded shares of Alnylam Pharmaceuticals from a “peer perform” rating to an “underperform” rating in a research note on Tuesday, November 12th. Royal Bank of Canada restated an “outperform” rating and issued a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Tuesday, February 11th. Sanford C. Bernstein reduced their target price on Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Scotiabank decreased their target price on Alnylam Pharmaceuticals from $310.00 to $300.00 and set a “sector outperform” rating for the company in a research note on Friday, February 14th. Finally, Canaccord Genuity Group raised their price target on Alnylam Pharmaceuticals from $384.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $304.26.

Alnylam Pharmaceuticals Stock Down 0.5 %

Shares of Alnylam Pharmaceuticals stock opened at $243.86 on Wednesday. The business has a fifty day simple moving average of $254.33 and a 200 day simple moving average of $262.59. The stock has a market cap of $31.57 billion, a PE ratio of -112.38 and a beta of 0.35. 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 has a 12 month low of $141.98 and a 12 month high of $304.39.

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

Insider Activity

In other news, Director Phillip A. Sharp sold 11,250 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $275.00, for a total value of $3,093,750.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Pushkal Garg sold 52,592 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $285.00, for a total transaction of $14,988,720.00. Following the completion of the sale, the chief marketing officer now owns 11,989 shares of the company’s stock, valued at $3,416,865. This trade represents a 81.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,986 shares of company stock valued at $20,397,849. 1.50% of the stock is owned by insiders.

Institutional Trading of Alnylam Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Capital World Investors boosted its stake in shares of Alnylam Pharmaceuticals by 0.6% during the 4th quarter. Capital World Investors now owns 16,600,525 shares of the biopharmaceutical company’s stock worth $3,906,284,000 after acquiring an additional 92,101 shares during the period. Vanguard Group Inc. boosted its position in Alnylam Pharmaceuticals by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 12,733,399 shares of the biopharmaceutical company’s stock worth $2,996,296,000 after purchasing an additional 98,303 shares during the period. Capital Research Global Investors boosted its position in Alnylam Pharmaceuticals by 32.9% during the fourth quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company’s stock worth $1,639,767,000 after purchasing an additional 1,724,610 shares during the period. Regeneron Pharmaceuticals Inc. acquired a new position in shares of Alnylam Pharmaceuticals in the fourth quarter valued at $1,045,822,000. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of Alnylam Pharmaceuticals by 39.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company’s stock valued at $1,031,705,000 after purchasing an additional 1,245,195 shares during the period. Institutional investors own 92.97% of the company’s stock.

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.