Alnylam Pharmaceuticals (NASDAQ:ALNY) Now Covered by BMO Capital Markets

Stock analysts at BMO Capital Markets initiated coverage on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research report issued on Wednesday,Benzinga reports. The firm set an “outperform” rating and a $318.00 price target on the biopharmaceutical company’s stock. BMO Capital Markets’ price objective points to a potential upside of 39.10% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. JPMorgan Chase & Co. decreased their target price on Alnylam Pharmaceuticals from $400.00 to $375.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Sanford C. Bernstein raised Alnylam Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, July 29th. Oppenheimer reduced their price objective on shares of Alnylam Pharmaceuticals from $500.00 to $350.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Royal Bank Of Canada decreased their price objective on shares of Alnylam Pharmaceuticals from $445.00 to $350.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Finally, Truist Financial dropped their price objective on shares of Alnylam Pharmaceuticals from $410.00 to $315.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Alnylam Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $386.62.

Alnylam Pharmaceuticals Trading Up 1.8%

Alnylam Pharmaceuticals stock opened at $228.61 on Wednesday. The stock has a 50-day simple moving average of $270.12 and a 200 day simple moving average of $299.25. The stock has a market capitalization of $30.59 billion, a P/E ratio of 42.49 and a beta of 0.30. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.99 and a current ratio of 3.05. Alnylam Pharmaceuticals has a 52 week low of $197.81 and a 52 week high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.21. Alnylam Pharmaceuticals had a return on equity of 84.93% and a net margin of 15.26%.The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the company earned ($0.51) earnings per share. The business’s revenue for the quarter was up 66.9% compared to the same quarter last year. Analysts expect that Alnylam Pharmaceuticals will post 6.59 earnings per share for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $299.18, for a total value of $1,145,859.40. Following the transaction, the director directly owned 1,582 shares of the company’s stock, valued at $473,302.76. This represents a 70.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. MV Capital Management Inc. bought a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter valued at about $25,000. HM Payson & Co. bought a new position in Alnylam Pharmaceuticals during the fourth quarter worth about $27,000. Golden State Wealth Management LLC raised its stake in Alnylam Pharmaceuticals by 100.0% in the 4th quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 36 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Alnylam Pharmaceuticals in the 3rd quarter worth about $29,000. Finally, Manchester Capital Management LLC boosted its holdings in Alnylam Pharmaceuticals by 600.0% in the 4th quarter. Manchester Capital Management LLC now owns 84 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 72 shares during the period. Institutional investors and hedge funds 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.