Alnylam Pharmaceuticals (NASDAQ:ALNY) Rating Increased to Strong-Buy at Citigroup

Citigroup upgraded shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

Several other equities analysts have also recently weighed in on ALNY. Wall Street Zen raised Alnylam Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $510.00 price objective on shares of Alnylam Pharmaceuticals in a report on Tuesday, May 5th. Barclays initiated coverage on Alnylam Pharmaceuticals in a report on Wednesday, January 28th. They issued an “overweight” rating and a $527.00 price objective for the company. Truist Financial dropped their price objective on Alnylam Pharmaceuticals from $515.00 to $505.00 and set a “buy” rating for the company in a report on Monday, April 13th. Finally, Wells Fargo & Company lifted their price objective on Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $463.13.

Alnylam Pharmaceuticals Price Performance

Alnylam Pharmaceuticals stock opened at $294.30 on Monday. Alnylam Pharmaceuticals has a 12 month low of $284.19 and a 12 month high of $495.55. The stock’s 50 day moving average is $312.56 and its 200-day moving average is $362.08. The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $39.29 billion, a price-to-earnings ratio of 80.41 and a beta of 0.31.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, beating the consensus estimate of $0.87 by $1.12. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The firm’s revenue for the quarter was up 96.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.44) earnings per share. Equities research analysts expect that Alnylam Pharmaceuticals will post 7.36 EPS for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, insider Melissa Mclaughlin sold 2,286 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $330.42, for a total value of $755,340.12. Following the sale, the insider owned 9,443 shares of the company’s stock, valued at approximately $3,120,156.06. This trade represents a 19.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Kevin Joseph Fitzgerald sold 1,652 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $319.73, for a total value of $528,193.96. Following the completion of the sale, the executive vice president directly owned 21,860 shares in the company, valued at approximately $6,989,297.80. This represents a 7.03% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 21,255 shares of company stock worth $6,930,337. 0.86% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ALNY. Howard Capital Management Inc. grew its holdings in Alnylam Pharmaceuticals by 2.9% during the 3rd quarter. Howard Capital Management Inc. now owns 854 shares of the biopharmaceutical company’s stock worth $389,000 after acquiring an additional 24 shares during the period. Frank Rimerman Advisors LLC grew its holdings in Alnylam Pharmaceuticals by 2.0% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 1,251 shares of the biopharmaceutical company’s stock worth $570,000 after acquiring an additional 24 shares during the period. Coastal Bridge Advisors LLC grew its holdings in Alnylam Pharmaceuticals by 2.3% during the 3rd quarter. Coastal Bridge Advisors LLC now owns 1,097 shares of the biopharmaceutical company’s stock worth $500,000 after acquiring an additional 25 shares during the period. First Horizon Corp grew its holdings in Alnylam Pharmaceuticals by 20.7% during the 4th quarter. First Horizon Corp now owns 163 shares of the biopharmaceutical company’s stock worth $65,000 after acquiring an additional 28 shares during the period. Finally, Yousif Capital Management LLC grew its holdings in Alnylam Pharmaceuticals by 1.8% during the 4th quarter. Yousif Capital Management LLC now owns 1,676 shares of the biopharmaceutical company’s stock worth $666,000 after acquiring an additional 29 shares during the period. 92.97% of the stock is owned by institutional investors.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc (NASDAQ: ALNY) is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.