Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Alnylam Pharmaceuticals has a consensus analyst rating of “Moderate Buy”, based on coverage from 26 research firms, with 19 Buy ratings and 1 Strong Buy. The average 12-month price target is about $463.13.
• The company reported a strong first-quarter earnings beat, posting $1.99 EPS versus the $0.87 estimate and revenue of $1.17 billion, up 96.4% year over year. Analysts now expect full-year EPS of 7.36.
• Recent insider sales included transactions by CEO Yvonne Greenstreet and EVP Kevin Joseph Fitzgerald, while institutional ownership remains high at 92.97%. Despite the insider selling, several hedge funds increased their positions in the stock during the first quarter.

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Get Free Report) has been given an average rating of "Moderate Buy" by the twenty-six research firms that are covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $463.1326.

A number of brokerages have weighed in on ALNY. Citigroup began coverage on Alnylam Pharmaceuticals in a research note on Tuesday. They set a "buy" rating and a $380.00 price objective for the company. Needham & Company LLC decreased their target price on Alnylam Pharmaceuticals from $529.00 to $510.00 and set a "buy" rating for the company in a research note on Thursday, February 12th. Wall Street Zen raised shares of Alnylam Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Truist Financial lowered their price target on Alnylam Pharmaceuticals from $515.00 to $505.00 and set a "buy" rating on the stock in a report on Monday, April 13th. Finally, Weiss Ratings raised Alnylam Pharmaceuticals from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, May 4th.

Insider Activity at Alnylam Pharmaceuticals

In other news, EVP Kevin Joseph Fitzgerald sold 1,652 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $319.73, for a total value of $528,193.96. Following the completion of the sale, the executive vice president owned 21,860 shares in the company, valued at $6,989,297.80. This represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Yvonne Greenstreet sold 6,799 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $327.65, for a total value of $2,227,692.35. Following the completion of the sale, the chief executive officer directly owned 98,628 shares of the company's stock, valued at approximately $32,315,464.20. This represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 21,255 shares of company stock valued at $6,930,337 over the last ninety days. Company insiders own 0.86% of the company's stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC grew its stake in Alnylam Pharmaceuticals by 7.8% in the 1st quarter. Janus Henderson Group PLC now owns 147,089 shares of the biopharmaceutical company's stock valued at $48,661,000 after buying an additional 10,664 shares during the last quarter. Oddo BHF Asset Management Sas boosted its holdings in Alnylam Pharmaceuticals by 9.6% during the first quarter. Oddo BHF Asset Management Sas now owns 33,013 shares of the biopharmaceutical company's stock valued at $10,923,000 after acquiring an additional 2,880 shares during the period. Bull Harbor Capital LLC bought a new stake in Alnylam Pharmaceuticals during the first quarter valued at about $210,000. Rock Springs Capital Management LP grew its position in shares of Alnylam Pharmaceuticals by 3.9% in the first quarter. Rock Springs Capital Management LP now owns 74,000 shares of the biopharmaceutical company's stock valued at $24,484,000 after purchasing an additional 2,750 shares during the last quarter. Finally, Quantinno Capital Management LP grew its position in shares of Alnylam Pharmaceuticals by 32.3% in the first quarter. Quantinno Capital Management LP now owns 33,850 shares of the biopharmaceutical company's stock valued at $11,200,000 after purchasing an additional 8,258 shares during the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

Alnylam Pharmaceuticals Stock Performance

NASDAQ ALNY opened at $294.30 on Wednesday. The company has a market capitalization of $39.29 billion, a PE ratio of 80.41 and a beta of 0.31. Alnylam Pharmaceuticals has a twelve month low of $284.19 and a twelve month high of $495.55. The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94. The business's 50-day moving average price is $312.56 and its 200 day moving average price is $362.08.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $1.12. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter last year, the firm earned ($0.44) earnings per share. The firm's revenue for the quarter was up 96.4% compared to the same quarter last year. On average, research analysts predict that Alnylam Pharmaceuticals will post 7.36 earnings per share for the current year.

About Alnylam Pharmaceuticals

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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