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 published on Friday.

Several other analysts have also recently issued reports on ALNY. Chardan Capital reaffirmed a “buy” rating and set a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday, November 1st. Piper Sandler restated an “overweight” rating and issued a $296.00 price target on shares of Alnylam Pharmaceuticals in a research report on Monday, November 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. Canaccord Genuity Group upped their target price on Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Raymond James lifted their price target on Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $298.09.

Alnylam Pharmaceuticals Stock Performance

NASDAQ ALNY opened at $237.97 on Friday. The company has a debt-to-equity ratio of 31.64, a current ratio of 2.75 and a quick ratio of 2.69. The stock’s 50 day simple moving average is $259.89 and its 200-day simple moving average is $253.96. The company has a market cap of $30.69 billion, a PE ratio of -90.83 and a beta of 0.32. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.36). The business had revenue of $500.90 million for the quarter, compared to the consensus estimate of $532.91 million. During the same quarter in the previous year, the business posted $1.15 earnings per share. The firm’s revenue was down 33.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Alnylam Pharmaceuticals will post -2.21 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CMO Pushkal Garg sold 1,682 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total value of $422,148.36. Following the sale, the chief marketing officer now directly owns 17,457 shares in the company, valued at approximately $4,381,357.86. This trade represents a 8.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Yvonne Greenstreet sold 5,219 shares of the business’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 $1,309,864.62. Following the transaction, the chief executive officer now owns 78,880 shares of the company’s stock, valued at approximately $19,797,302.40. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,122 shares of company stock valued at $2,540,455 in the last ninety days. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC purchased a new position in shares of Alnylam Pharmaceuticals in the 2nd quarter valued at about $26,000. Huntington National Bank increased its stake in Alnylam Pharmaceuticals by 91.8% in the third quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 45 shares during the last quarter. Hollencrest Capital Management acquired a new stake in Alnylam Pharmaceuticals during the third quarter worth approximately $29,000. Washington Trust Advisors Inc. purchased a new stake in shares of Alnylam Pharmaceuticals during the 3rd quarter worth approximately $42,000. Finally, True Wealth Design LLC boosted its holdings in shares of Alnylam Pharmaceuticals by 15,300.0% in the 3rd quarter. True Wealth Design LLC now owns 154 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 153 shares in the last quarter. 92.97% of the stock is owned by hedge funds and other institutional investors.

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.