Alnylam Pharmaceuticals (NASDAQ:ALNY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) from a buy rating to a strong-buy rating in a research note published on Saturday morning.

Several other brokerages have also commented on ALNY. Citigroup initiated coverage on shares of Alnylam Pharmaceuticals in a research report on Tuesday, May 19th. They issued a “buy” rating and a $380.00 price objective on the stock. Weiss Ratings raised shares of Alnylam Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Truist Financial decreased their price target on shares of Alnylam Pharmaceuticals from $505.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Royal Bank Of Canada lowered their price target on shares of Alnylam Pharmaceuticals from $450.00 to $445.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. dropped their price objective on Alnylam Pharmaceuticals from $420.00 to $400.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $452.13.

Alnylam Pharmaceuticals Stock Up 2.4%

Shares of NASDAQ:ALNY opened at $278.40 on Friday. Alnylam Pharmaceuticals has a 1 year low of $262.21 and a 1 year high of $495.55. The company has a market capitalization of $37.17 billion, a PE ratio of 76.07 and a beta of 0.27. The business has a fifty day moving average price of $292.06 and a two-hundred day moving average price of $315.16. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.13 and a quick ratio of 3.06.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $1.12. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The business’s revenue for the quarter was up 96.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.44) EPS. Analysts forecast that Alnylam Pharmaceuticals will post 7.35 earnings per share for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, Director David E. I. Pyott sold 3,830 shares of Alnylam Pharmaceuticals stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $299.18, for a total value of $1,145,859.40. Following the completion of the transaction, the director owned 1,582 shares in the company, valued at $473,302.76. This trade represents a 70.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is owned by insiders.

Institutional Trading of Alnylam Pharmaceuticals

A number of institutional investors have recently modified their holdings of ALNY. iA Global Asset Management Inc. raised its stake in shares of Alnylam Pharmaceuticals by 979.5% during the 4th quarter. iA Global Asset Management Inc. now owns 17,780 shares of the biopharmaceutical company’s stock valued at $7,070,000 after purchasing an additional 16,133 shares during the period. Perpetual Ltd bought a new position in Alnylam Pharmaceuticals in the 4th quarter worth about $2,004,000. Hussman Strategic Advisors Inc. bought a new position in Alnylam Pharmaceuticals in the 4th quarter worth about $2,505,000. GF Fund Management CO. LTD. grew its holdings in Alnylam Pharmaceuticals by 989.1% during the 4th quarter. GF Fund Management CO. LTD. now owns 30,462 shares of the biopharmaceutical company’s stock valued at $12,113,000 after buying an additional 27,665 shares in the last quarter. Finally, Brighton Jones LLC purchased a new position in Alnylam Pharmaceuticals during the 4th quarter valued at about $243,000. 92.97% of the stock is currently owned by hedge funds and other 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.