HC Wainwright Reaffirms “Buy” Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research report issued on Monday, Benzinga reports. They presently have a $455.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target suggests a potential upside of 80.81% from the stock’s current price.

A number of other brokerages have also issued reports on ALNY. Wells Fargo & Company dropped their price target on shares of Alnylam Pharmaceuticals from $316.00 to $256.00 and set an “equal weight” rating on the stock in a research note on Friday, August 14th. JPMorgan Chase & Co. dropped their target price on Alnylam Pharmaceuticals from $400.00 to $375.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Truist Financial reduced their price target on Alnylam Pharmaceuticals from $410.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Bank of America decreased their price target on Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating on the stock in a research note on Tuesday, July 14th. Finally, Oppenheimer dropped their price objective on Alnylam Pharmaceuticals from $500.00 to $350.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Alnylam Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $367.20.

Alnylam Pharmaceuticals Stock Up 3.0%

Alnylam Pharmaceuticals stock opened at $251.65 on Monday. The stock has a 50 day moving average of $245.82 and a two-hundred day moving average of $284.57. Alnylam Pharmaceuticals has a twelve month low of $197.81 and a twelve month high of $495.55. The stock has a market capitalization of $33.67 billion, a price-to-earnings ratio of 46.78 and a beta of 0.31. The company has a current ratio of 3.05, a quick ratio of 2.99 and a debt-to-equity ratio of 0.75.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 EPS for the quarter, topping 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 business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the business earned ($0.51) earnings per share. The company’s quarterly revenue was up 66.9% compared to the same quarter last year. As a group, research analysts expect that Alnylam Pharmaceuticals will post 6.71 earnings per share for the current year.

Institutional Trading of Alnylam Pharmaceuticals

Several large investors have recently bought and sold shares of the company. Bank of Nova Scotia raised its stake in shares of Alnylam Pharmaceuticals by 0.6% during the 1st quarter. Bank of Nova Scotia now owns 7,798 shares of the biopharmaceutical company’s stock worth $2,580,000 after buying an additional 49 shares during the last quarter. Prestige Wealth Management Group LLC increased its holdings in Alnylam Pharmaceuticals by 30.6% during the 1st quarter. Prestige Wealth Management Group LLC now owns 226 shares of the biopharmaceutical company’s stock valued at $75,000 after acquiring an additional 53 shares in the last quarter. Glenmede Trust Co. NA raised its position in 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 acquiring an additional 56 shares during the last quarter. MV Capital Management Inc. purchased a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter valued at about $25,000. Finally, Parallel Advisors LLC grew its position 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 last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines based on RNA interference (RNAi) technology. RNAi therapies are designed to silence specific genes involved in disease, offering a way to target conditions that may be difficult to treat with conventional drug approaches. The company was founded in 2002 and is headquartered in Cambridge, Massachusetts.

Alnylam’s commercial products include Onpattro (patisiran), Givlaari (givosiran), Oxlumo (lumasiran) and Amvuttra (vutrisiran).