Alnylam Pharmaceuticals' (ALNY) "Buy" Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright reiterated a "Buy" rating with a $510 price target, implying about a 71.19% upside from the stock's current level.
• Alnylam posted a strong quarter with $1.99 EPS (vs. $0.87 expected) and $1.17 billion in revenue, a 96.4% year‑over‑year revenue increase.
• The Street's consensus is a Moderate Buy with an average target of $471.96, based on 1 Strong Buy, 19 Buy, 5 Hold and 1 Sell ratings.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report)'s stock had its "buy" rating restated by stock analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They currently have a $510.00 target price on the biopharmaceutical company's stock. HC Wainwright's price objective would indicate a potential upside of 71.19% from the stock's current price.

ALNY has been the subject of several other research reports. Raymond James Financial reaffirmed an "outperform" rating and issued a $472.00 target price on shares of Alnylam Pharmaceuticals in a research note on Monday, January 12th. Morgan Stanley lowered their target price on Alnylam Pharmaceuticals from $495.00 to $408.00 and set an "equal weight" rating for the company in a report on Friday, January 30th. Jefferies Financial Group reiterated a "hold" rating and set a $330.00 price objective (down from $522.00) on shares of Alnylam Pharmaceuticals in a report on Monday, March 16th. Chardan Capital reiterated a "buy" rating and issued a $425.00 price objective on shares of Alnylam Pharmaceuticals in a report on Wednesday, March 25th. Finally, Barclays began coverage on shares of Alnylam Pharmaceuticals in a research report on Wednesday, January 28th. They issued an "overweight" rating and a $527.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $471.96.

Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ:ALNY opened at $297.92 on Tuesday. The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94. Alnylam Pharmaceuticals has a 1-year low of $245.96 and a 1-year high of $495.55. The stock has a market capitalization of $39.75 billion, a P/E ratio of 81.40 and a beta of 0.31. The business has a 50-day moving average price of $320.11 and a two-hundred day moving average price of $376.18.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, topping the consensus estimate of $0.87 by $1.12. Alnylam Pharmaceuticals had a net margin of 11.72% and a return on equity of 85.76%. The company had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter in the previous year, the company earned ($0.44) EPS. Alnylam Pharmaceuticals's revenue was up 96.4% on a year-over-year basis. Equities analysts predict that Alnylam Pharmaceuticals will post 6.78 earnings per share for the current year.

Insider Activity

In other news, EVP Pushkal Garg sold 2,242 shares of the company's stock in a transaction on Friday, February 13th. The shares were sold at an average price of $310.08, for a total value of $695,199.36. Following the completion of the sale, the executive vice president owned 24,848 shares in the company, valued at $7,704,867.84. This represents a 8.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jeffrey V. Poulton sold 2,242 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $310.08, for a total transaction of $695,199.36. Following the completion of the sale, the executive vice president owned 59,802 shares of the company's stock, valued at approximately $18,543,404.16. This represents a 3.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 38,656 shares of company stock valued at $12,370,696. Corporate insiders own 0.86% of the company's stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALNY. Root Financial Partners LLC purchased a new position in shares of Alnylam Pharmaceuticals in the 3rd quarter worth approximately $25,000. Salomon & Ludwin LLC purchased a new position in shares of Alnylam Pharmaceuticals during the third quarter worth about $27,000. MV Capital Management Inc. purchased a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter valued at $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Alnylam Pharmaceuticals during the 3rd quarter valued at about $29,000. Finally, HM Payson & Co. bought a new stake in Alnylam Pharmaceuticals in the fourth quarter worth $27,000. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.