Alnylam Pharmaceuticals (NASDAQ:ALNY) Rating Increased to Peer Perform at Wolfe Research

Key Points

• Alnylam Pharmaceuticals has been upgraded by Wolfe Research from an "underperform" rating to a "peer perform" rating, signaling increased confidence in the company's prospects.
• Several analysts raised their target prices for Alnylam stocks significantly, with Piper Sandler increasing it to $449 and BMO Capital Markets to $360, contributing to a current average target price of $396.04.
• The company's stock opened at $401.80 on Monday and has seen a substantial increase in market interest, with a 52-week high of $402.43 and 24 analysts giving it a "buy" rating.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) was upgraded by Wolfe Research from an "underperform" rating to a "peer perform" rating in a report issued on Monday, MarketBeat reports.

ALNY has been the topic of several other reports. Bank of America upped their price objective on shares of Alnylam Pharmaceuticals from $336.00 to $359.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Citigroup increased their target price on Alnylam Pharmaceuticals from $364.00 to $404.00 and gave the company a "buy" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. lifted their price target on Alnylam Pharmaceuticals from $338.00 to $348.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Chardan Capital increased their price objective on Alnylam Pharmaceuticals from $325.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Needham & Company LLC upped their target price on Alnylam Pharmaceuticals from $377.00 to $478.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Four analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $403.92.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY stock traded up $3.83 during trading hours on Monday, reaching $438.93. The stock had a trading volume of 893,873 shares, compared to its average volume of 937,603. The stock's fifty day simple moving average is $329.10 and its 200 day simple moving average is $283.50. The company has a current ratio of 2.80, a quick ratio of 2.98 and a debt-to-equity ratio of 4.10. Alnylam Pharmaceuticals has a 12 month low of $205.87 and a 12 month high of $439.36. The firm has a market capitalization of $57.53 billion, a PE ratio of -177.70 and a beta of 0.25.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $0.32 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.86. The firm had revenue of $773,689 billion for the quarter, compared to analysts' expectations of $633.54 million. Alnylam Pharmaceuticals had a negative net margin of 12.96% and a negative return on equity of 273.52%. The business's quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. On average, equities research analysts predict that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insider Activity

In related news, CEO Yvonne Greenstreet sold 31,640 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $304.39, for a total transaction of $9,630,899.60. Following the sale, the chief executive officer directly owned 48,948 shares of the company's stock, valued at approximately $14,899,281.72. This represents a 39.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Atlantic Union Bankshares Corp bought a new stake in shares of Alnylam Pharmaceuticals in the second quarter worth $30,000. SVB Wealth LLC purchased a new stake in Alnylam Pharmaceuticals during the first quarter valued at approximately $27,000. Whipplewood Advisors LLC raised its position in Alnylam Pharmaceuticals by 208.8% in the first quarter. Whipplewood Advisors LLC now owns 105 shares of the biopharmaceutical company's stock worth $28,000 after acquiring an additional 71 shares during the period. Bessemer Group Inc. raised its position in Alnylam Pharmaceuticals by 176.9% in the first quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 69 shares during the period. Finally, Park Square Financial Group LLC purchased a new position in shares of Alnylam Pharmaceuticals during the 4th quarter worth $28,000. Institutional investors own 92.97% of the company's stock.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.