Alnylam Pharmaceuticals’ (ALNY) “Buy” Rating Reiterated at HC Wainwright

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They presently have a $510.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 68.11% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on ALNY. Bank of America reissued a “buy” rating on shares of Alnylam Pharmaceuticals in a report on Thursday, February 12th. Citigroup initiated coverage on shares of Alnylam Pharmaceuticals in a report on Tuesday, May 19th. They set a “buy” rating and a $380.00 target price on the stock. Weiss Ratings raised shares of Alnylam Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Freedom Capital raised shares of Alnylam Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 17th. Finally, Royal Bank Of Canada decreased 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. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $463.13.

Alnylam Pharmaceuticals Stock Performance

ALNY stock traded up $10.80 during midday trading on Thursday, reaching $303.38. 543,076 shares of the company’s stock traded hands, compared to its average volume of 1,246,711. The company has a 50-day moving average price of $308.26 and a two-hundred day moving average price of $350.71. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.06 and a current ratio of 3.13. Alnylam Pharmaceuticals has a 52 week low of $283.10 and a 52 week high of $495.55. The firm has a market capitalization of $40.50 billion, a PE ratio of 82.93 and a beta of 0.29.

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

Insiders Place Their Bets

In related news, insider Melissa Mclaughlin sold 2,286 shares of the 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 transaction, the insider owned 9,443 shares of the company’s stock, valued at $3,120,156.06. This represents a 19.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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, Director David E. I. Pyott sold 3,830 shares of the stock in a transaction on 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 directly owned 1,582 shares in the company, valued at approximately $473,302.76. This represents a 70.77% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 7,740 shares of company stock worth $2,420,214. 0.86% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Alnylam Pharmaceuticals by 2.0% during the third quarter. Vanguard Group Inc. now owns 13,565,452 shares of the biopharmaceutical company’s stock valued at $6,185,846,000 after buying an additional 268,313 shares during the period. Capital Research Global Investors boosted its position in Alnylam Pharmaceuticals by 0.4% during the third quarter. Capital Research Global Investors now owns 7,222,840 shares of the biopharmaceutical company’s stock valued at $3,293,516,000 after buying an additional 31,184 shares during the period. Groupama Asset Managment boosted its position in Alnylam Pharmaceuticals by 160.4% during the third quarter. Groupama Asset Managment now owns 4,032,082 shares of the biopharmaceutical company’s stock valued at $18,610,000 after buying an additional 2,483,697 shares during the period. Geode Capital Management LLC boosted its position in Alnylam Pharmaceuticals by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 2,650,722 shares of the biopharmaceutical company’s stock valued at $1,056,884,000 after buying an additional 151,480 shares during the period. Finally, Norges Bank purchased a new stake in Alnylam Pharmaceuticals during the fourth quarter valued at about $895,816,000. Institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Company Profile

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.