Alnylam Pharmaceuticals (NASDAQ:ALNY) Upgraded at Zacks Research

Zacks Research upgraded shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) from a hold rating to a strong-buy rating in a research note published on Monday morning,Zacks reports.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley reduced their price objective on shares of Alnylam Pharmaceuticals from $400.00 to $300.00 and set an “equal weight” rating on the stock in a report on Friday, July 31st. Chardan Capital reiterated a “buy” rating and set a $425.00 target price on shares of Alnylam Pharmaceuticals in a research note on Friday, July 31st. Jefferies Financial Group increased their target price on Alnylam Pharmaceuticals from $230.00 to $260.00 and gave the company a “hold” rating in a report on Tuesday, September 8th. Sanford C. Bernstein restated a “buy” rating on shares of Alnylam Pharmaceuticals in a research note on Monday, August 31st. Finally, Royal Bank Of Canada decreased their price target on Alnylam Pharmaceuticals from $445.00 to $350.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $366.90.

Alnylam Pharmaceuticals Stock Up 0.2%

ALNY stock opened at $224.41 on Monday. The company’s 50 day moving average price is $237.67 and its 200 day moving average price is $278.40. 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 fifty-two week low of $197.81 and a fifty-two week high of $495.55. The firm has a market capitalization of $30.03 billion, a price-to-earnings ratio of 41.71 and a beta of 0.28.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.21. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the company earned ($0.51) earnings per share. The firm’s revenue was up 66.9% compared to the same quarter last year. On average, equities research analysts anticipate that Alnylam Pharmaceuticals will post 6.71 EPS for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, EVP Bryan Supran sold 1,758 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $226.88, for a total transaction of $398,855.04. Following the completion of the sale, the executive vice president owned 12,807 shares in the company, valued at approximately $2,905,652.16. The trade was a 12.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ALNY. Bank of Nova Scotia grew its position in Alnylam Pharmaceuticals by 0.6% in the first quarter. Bank of Nova Scotia now owns 7,798 shares of the biopharmaceutical company’s stock valued at $2,580,000 after acquiring an additional 49 shares in the last quarter. Prestige Wealth Management Group LLC lifted its position in shares of Alnylam Pharmaceuticals by 30.6% during the first quarter. Prestige Wealth Management Group LLC now owns 226 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 53 shares in the last quarter. Glenmede Trust Co. NA lifted its position in shares of Alnylam Pharmaceuticals by 8.3% during the first quarter. Glenmede Trust Co. NA now owns 731 shares of the biopharmaceutical company’s stock worth $242,000 after purchasing an additional 56 shares in the last quarter. MV Capital Management Inc. purchased a new position in shares of Alnylam Pharmaceuticals in the fourth quarter valued at $25,000. Finally, Parallel Advisors LLC boosted its stake in shares of Alnylam Pharmaceuticals by 7.9% in the first quarter. Parallel Advisors LLC now owns 891 shares of the biopharmaceutical company’s stock valued at $295,000 after purchasing an additional 65 shares during the period. 92.97% of the stock is owned by hedge funds and other institutional investors.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines based on RNA interference (RNAi), a biological process that can selectively reduce the production of disease-causing proteins. The company was founded in 2002 and is headquartered in Cambridge, Massachusetts.

Alnylam’s commercial products include ONPATTRO (patisiran), an RNAi therapy for hereditary transthyretin-mediated amyloidosis with polyneuropathy; GIVLAARI (givosiran), for acute hepatic porphyria; OXLUMO (lumasiran), for primary hyperoxaluria type 1; and AMVUTTRA (vutrisiran), for transthyretin-mediated amyloidosis.