Chardan Capital Reiterates Buy Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reaffirmed by equities researchers at Chardan Capital in a research note issued on Friday, Benzinga reports. They presently have a $300.00 target price on the biopharmaceutical company’s stock. Chardan Capital’s price target suggests a potential upside of 9.53% from the company’s previous close.

Several other research firms have also recently issued reports on ALNY. Needham & Company LLC reiterated a “buy” rating and issued a $320.00 price objective on shares of Alnylam Pharmaceuticals in a report on Thursday, October 10th. Wells Fargo & Company increased their price target on Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Barclays lifted their target price on Alnylam Pharmaceuticals from $291.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group raised shares of Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price target for the company from $198.00 to $370.00 in a report on Friday, August 16th. Finally, TD Cowen lifted their price objective on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $294.50.

Alnylam Pharmaceuticals Stock Performance

NASDAQ:ALNY opened at $273.91 on Friday. The stock has a market cap of $35.16 billion, a price-to-earnings ratio of -104.55 and a beta of 0.39. Alnylam Pharmaceuticals has a 1 year low of $141.98 and a 1 year high of $304.39. The business has a fifty day moving average of $274.61 and a 200-day moving average of $225.87.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.61. The company had revenue of $659.83 million during the quarter, compared to the consensus estimate of $447.22 million. During the same quarter in the prior year, the company earned ($2.21) EPS. The business’s quarterly revenue was up 107.0% on a year-over-year basis. On average, equities research analysts predict that Alnylam Pharmaceuticals will post -2.59 EPS for the current year.

Insider Buying and Selling

In related news, Director Dennis A. Ausiello sold 20,250 shares of Alnylam Pharmaceuticals stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $262.00, for a total value of $5,305,500.00. Following the transaction, the director now owns 136 shares in the company, valued at $35,632. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Yvonne Greenstreet sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total transaction of $4,200,000.00. Following the completion of the transaction, the chief executive officer now owns 73,441 shares of the company’s stock, valued at approximately $20,563,480. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dennis A. Ausiello sold 20,250 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $262.00, for a total value of $5,305,500.00. Following the sale, the director now owns 136 shares of the company’s stock, valued at approximately $35,632. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALNY. Capital Research Global Investors grew its stake in shares of 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 worth $470,018,000 after acquiring an additional 214,908 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Alnylam Pharmaceuticals by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock worth $550,837,000 after purchasing an additional 201,784 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Alnylam Pharmaceuticals by 92.5% during the 2nd quarter. AQR Capital Management LLC now owns 271,619 shares of the biopharmaceutical company’s stock worth $65,862,000 after purchasing an additional 130,482 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Alnylam Pharmaceuticals during the first quarter valued at about $18,886,000. Finally, Deerfield Management Company L.P. Series C acquired a new position in shares of Alnylam Pharmaceuticals during the second quarter valued at about $29,111,000. 92.97% of the stock is currently owned by institutional investors and hedge funds.

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.