Alnylam Pharmaceuticals (NASDAQ:ALNY) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research report sent to investors on Monday morning,Benzinga reports. HC Wainwright currently has a $400.00 price target on the biopharmaceutical company’s stock.

Several other equities research analysts have also commented on ALNY. Needham & Company LLC restated a “buy” rating and set a $320.00 target price on shares of Alnylam Pharmaceuticals in a research report on Monday. Barclays raised their price target on Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Bank of America upped their price target on Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. TD Cowen boosted their price objective on Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $220.00 target price on shares of Alnylam Pharmaceuticals in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $298.61.

Alnylam Pharmaceuticals Price Performance

Alnylam Pharmaceuticals stock opened at $251.01 on Monday. The business has a 50 day simple moving average of $248.15 and a 200-day simple moving average of $259.81. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $304.39. The company has a debt-to-equity ratio of 31.64, a current ratio of 2.75 and a quick ratio of 2.69. The stock has a market capitalization of $32.38 billion, a PE ratio of -95.81 and a beta of 0.34.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.36). The firm had revenue of $500.90 million for the quarter, compared to the consensus estimate of $532.91 million. The business’s revenue for the quarter was down 33.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.15 EPS. Equities analysts predict that Alnylam Pharmaceuticals will post -2.21 earnings per share for the current year.

Insider Activity

In other news, EVP Tolga Tanguler sold 1,469 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total value of $368,689.62. Following the transaction, the executive vice president now directly owns 13,191 shares of the company’s stock, valued at $3,310,677.18. This trade represents a 10.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Pushkal Garg sold 1,682 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total transaction of $422,148.36. Following the sale, the chief marketing officer now directly owns 17,457 shares in the company, valued at approximately $4,381,357.86. This trade represents a 8.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,122 shares of company stock valued at $2,540,455. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC acquired a new stake in Alnylam Pharmaceuticals in the second quarter valued at approximately $26,000. Huntington National Bank grew its position in Alnylam Pharmaceuticals by 91.8% during the third quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 45 shares in the last quarter. Hollencrest Capital Management bought a new stake in Alnylam Pharmaceuticals in the 3rd quarter valued at $29,000. Washington Trust Advisors Inc. bought a new position in Alnylam Pharmaceuticals during the third quarter worth about $42,000. Finally, True Wealth Design LLC grew its position in Alnylam Pharmaceuticals by 15,300.0% in the third quarter. True Wealth Design LLC now owns 154 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 153 shares during the period. 92.97% of the stock is owned by hedge funds and other institutional investors.

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.