HC Wainwright Reiterates Buy Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $500.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 91.18% from the company’s current price.

Other equities research analysts have also issued reports about the company. Morgan Stanley upped their price target on Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Redburn Atlantic started coverage on Alnylam Pharmaceuticals in a research note on Monday. They issued a “buy” rating and a $353.00 target price for the company. Canaccord Genuity Group increased their price target on Alnylam Pharmaceuticals from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Scotiabank upped their price target on shares of Alnylam Pharmaceuticals from $338.00 to $342.00 and gave the stock a “sector outperform” rating in a research report on Monday. Finally, Wells Fargo & Company upped their target price on shares of Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the stock an “equal weight” rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $316.25.

Alnylam Pharmaceuticals Stock Up 2.3 %

Shares of ALNY stock traded up $5.78 on Wednesday, hitting $261.54. The stock had a trading volume of 322,397 shares, compared to its average volume of 830,846. Alnylam Pharmaceuticals has a 52-week low of $141.98 and a 52-week high of $304.39. The company has a debt-to-equity ratio of 15.27, a quick ratio of 2.71 and a current ratio of 2.78. The firm has a market capitalization of $34.02 billion, a price-to-earnings ratio of -120.61 and a beta of 0.39. The stock’s 50 day moving average is $260.15 and its 200-day moving average is $260.51.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced 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). As a group, research analysts expect that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Activity

In related news, CMO Pushkal Garg sold 52,592 shares of Alnylam Pharmaceuticals stock in a transaction 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 completion of the sale, the chief marketing officer now owns 11,989 shares of the company’s stock, valued at approximately $3,416,865. This trade represents a 81.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Yvonne Greenstreet sold 1,213 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $255.17, for a total value of $309,521.21. Following the completion of the transaction, the chief executive officer now directly owns 81,526 shares in the company, valued at approximately $20,802,989.42. The trade was a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,234 shares of company stock worth $19,958,097 over the last 90 days. 1.50% of the stock is owned by company insiders.

Institutional Trading of Alnylam Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP lifted its holdings in shares of Alnylam Pharmaceuticals by 1,754.5% during the third quarter. Quantbot Technologies LP now owns 204 shares of the biopharmaceutical company’s stock worth $56,000 after buying an additional 193 shares during the last quarter. Captrust Financial Advisors grew its position in Alnylam Pharmaceuticals by 34.4% during the third quarter. Captrust Financial Advisors now owns 4,833 shares of the biopharmaceutical company’s stock worth $1,329,000 after buying an additional 1,237 shares in the last quarter. Investment Management Corp of Ontario increased its stake in Alnylam Pharmaceuticals by 153.5% during the third quarter. Investment Management Corp of Ontario now owns 7,059 shares of the biopharmaceutical company’s stock valued at $1,941,000 after acquiring an additional 4,274 shares during the period. Parkman Healthcare Partners LLC acquired a new position in Alnylam Pharmaceuticals in the 3rd quarter valued at approximately $7,009,000. Finally, Quantinno Capital Management LP lifted its position in shares of Alnylam Pharmaceuticals by 50.3% in the 3rd quarter. Quantinno Capital Management LP now owns 3,366 shares of the biopharmaceutical company’s stock worth $926,000 after acquiring an additional 1,126 shares during the period. 92.97% of the stock is owned by institutional investors.

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.