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

Key Points

• HC Wainwright reiterated a "buy" rating on Alnylam Pharmaceuticals and kept a $510 price target, implying about 68% upside from the previous close.
• Alnylam reported strong first-quarter results, posting $1.99 EPS versus $0.87 expected and $1.17 billion in revenue, which was up 96.4% year over year.
• The stock rose 3.7% to $303.38 in Thursday trading, while analyst sentiment remains broadly positive with a Moderate Buy consensus and a $463.13 average price target.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report)'s stock had its "buy" rating restated by analysts at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $510.00 price target on the biopharmaceutical company's stock. HC Wainwright's price objective suggests a potential upside of 68.11% from the stock's previous close.

ALNY has been the subject of a number of other reports. Bank of America reissued a "buy" rating on shares of Alnylam Pharmaceuticals in a report on Thursday, February 12th. Needham & Company LLC decreased their price objective on Alnylam Pharmaceuticals from $529.00 to $510.00 and set a "buy" rating for the company in a report on Thursday, February 12th. Weiss Ratings raised Alnylam Pharmaceuticals from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, May 4th. Truist Financial decreased their price objective on Alnylam Pharmaceuticals from $515.00 to $505.00 and set a "buy" rating for the company in a report on Monday, April 13th. Finally, Wall Street Zen raised Alnylam Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $463.13.

Alnylam Pharmaceuticals Stock Up 3.7%

ALNY traded up $10.80 during trading on Thursday, hitting $303.38. 543,076 shares of the company's stock were exchanged, compared to its average volume of 1,246,711. The company has a quick ratio of 3.06, a current ratio of 3.13 and a debt-to-equity ratio of 0.94. The business's 50 day moving average is $308.26 and its two-hundred day moving average is $350.71. Alnylam Pharmaceuticals has a fifty-two week low of $283.10 and a fifty-two week high of $495.55. The stock has a market cap of $40.50 billion, a P/E ratio of 82.93 and a beta of 0.29.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share 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 firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the company posted ($0.44) earnings per share. The business's revenue was up 96.4% on a year-over-year basis. As a group, equities analysts expect that Alnylam Pharmaceuticals will post 7.36 earnings per share for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, insider Melissa Mclaughlin sold 2,286 shares of the firm's stock in a transaction on Monday, April 6th. The stock was sold at an average price of $330.42, for a total value of $755,340.12. Following the completion of the sale, the insider directly owned 9,443 shares of the company's stock, valued at $3,120,156.06. This trade represents a 19.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director David E. I. Pyott sold 3,830 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $299.18, for a total value of $1,145,859.40. Following the completion of the sale, the director owned 1,582 shares in the company, valued at approximately $473,302.76. The trade was a 70.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 7,740 shares of company stock worth $2,420,214. 0.86% of the stock is owned by company insiders.

Institutional Trading of Alnylam Pharmaceuticals

Several hedge funds have recently made changes to their positions in ALNY. Brighton Jones LLC bought a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter valued at $243,000. Geneos Wealth Management Inc. raised its stake in shares of Alnylam Pharmaceuticals by 372.3% in the first quarter. Geneos Wealth Management Inc. now owns 222 shares of the biopharmaceutical company's stock valued at $60,000 after buying an additional 175 shares during the period. Flow Traders U.S. LLC bought a new stake in shares of Alnylam Pharmaceuticals in the second quarter valued at $241,000. Daiwa Securities Group Inc. raised its stake in shares of Alnylam Pharmaceuticals by 0.3% in the second quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company's stock valued at $4,220,000 after buying an additional 35 shares during the period. Finally, NewEdge Advisors LLC raised its stake in shares of Alnylam Pharmaceuticals by 70,300.0% in the second quarter. NewEdge Advisors LLC now owns 704 shares of the biopharmaceutical company's stock valued at $229,000 after buying an additional 703 shares during the period. 92.97% of the stock is currently owned by institutional investors.

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.

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