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

HC Wainwright reissued their buy rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research report sent to investors on Monday, MarketBeat Ratings reports. They currently have a $400.00 price target on the biopharmaceutical company’s stock.

Several other analysts have also recently issued reports on ALNY. Cantor Fitzgerald reiterated a “neutral” rating and issued a $220.00 target price on shares of Alnylam Pharmaceuticals in a research note on Friday, October 11th. Barclays increased their target price on shares of Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Raymond James raised their price objective on shares of Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Bank of America raised their price objective on shares of Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, Alnylam Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $298.09.

Alnylam Pharmaceuticals Price Performance

Alnylam Pharmaceuticals stock opened at $247.05 on Monday. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $304.39. The company’s 50 day moving average price is $273.54 and its two-hundred day moving average price is $236.84. The stock has a market cap of $31.86 billion, a P/E ratio of -94.29 and a beta of 0.39. The company has a quick ratio of 2.69, a current ratio of 2.75 and a debt-to-equity ratio of 31.64.

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

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Alnylam Pharmaceuticals by 0.4% in the first quarter. Vanguard Group Inc. now owns 11,994,261 shares of the biopharmaceutical company’s stock valued at $1,792,542,000 after acquiring an additional 50,366 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Alnylam Pharmaceuticals by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock valued at $550,837,000 after acquiring an additional 201,784 shares in the last quarter. Capital International Investors boosted its stake in Alnylam Pharmaceuticals by 1.8% in the first quarter. Capital International Investors now owns 3,651,217 shares of the biopharmaceutical company’s stock valued at $545,674,000 after acquiring an additional 64,560 shares in the last quarter. Capital Research Global Investors boosted its stake in Alnylam Pharmaceuticals by 7.3% in the first quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock valued at $470,018,000 after acquiring an additional 214,908 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Alnylam Pharmaceuticals by 3.2% during the third quarter. Geode Capital Management LLC now owns 2,147,203 shares of the biopharmaceutical company’s stock worth $589,209,000 after buying an additional 66,928 shares during the period. Hedge funds and other 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.