Alnylam Pharmaceuticals (NASDAQ:ALNY) Rating Increased to Outperform at Oppenheimer

Key Points

• Oppenheimer analysts upgraded Alnylam Pharmaceuticals from a "market perform" to an "outperform" rating, with a price target of $490.00, indicating a potential upside of 21.95% from the current stock price.
• Multiple investment firms have raised their price targets for Alnylam, with the average target now at $396.04 and a consensus rating of "Moderate Buy."
• CEO Yvonne Greenstreet sold over 31,000 shares of the company stock, leading to a 39.26% decrease in her holdings, which raised some attention regarding insider trading activities.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) was upgraded by equities research analysts at Oppenheimer from a "market perform" rating to an "outperform" rating in a research report issued to clients and investors on Monday, Marketbeat.com reports. The brokerage currently has a $490.00 price objective on the biopharmaceutical company's stock. Oppenheimer's price target would indicate a potential upside of 11.64% from the company's current price.

Several other equities research analysts also recently commented on ALNY. Piper Sandler upped their target price on Alnylam Pharmaceuticals from $304.00 to $449.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Barclays raised their target price on shares of Alnylam Pharmaceuticals from $329.00 to $460.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. UBS Group boosted their price target on shares of Alnylam Pharmaceuticals from $403.00 to $550.00 and gave the company a "buy" rating in a report on Friday, August 1st. Scotiabank raised their price objective on shares of Alnylam Pharmaceuticals from $342.00 to $450.00 and gave the stock a "sector outperform" rating in a research note on Friday, August 1st. Finally, Morgan Stanley boosted their target price on shares of Alnylam Pharmaceuticals from $312.00 to $405.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Four research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $403.92.

Alnylam Pharmaceuticals Stock Up 0.9%

Alnylam Pharmaceuticals stock traded up $3.83 during midday trading on Monday, hitting $438.93. 893,873 shares of the stock were exchanged, compared to its average volume of 937,603. The company has a debt-to-equity ratio of 4.10, a current ratio of 2.80 and a quick ratio of 2.98. The company has a 50 day moving average price of $329.10 and a two-hundred day moving average price of $283.50. The firm has a market cap of $57.53 billion, a P/E ratio of -177.70 and a beta of 0.25. Alnylam Pharmaceuticals has a 1 year low of $205.87 and a 1 year high of $439.36.

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

Insiders Place Their Bets

In related news, CEO Yvonne Greenstreet sold 31,640 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $304.39, for a total transaction of $9,630,899.60. Following the completion of the transaction, the chief executive officer directly owned 48,948 shares in the company, valued at $14,899,281.72. The trade was a 39.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several institutional investors have recently modified their holdings of the company. Bessemer Group Inc. boosted its stake in shares of Alnylam Pharmaceuticals by 176.9% during the first quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 69 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in Alnylam Pharmaceuticals in the first quarter worth about $275,000. GAMMA Investing LLC grew its stake in shares of Alnylam Pharmaceuticals by 14.3% in the first quarter. GAMMA Investing LLC now owns 616 shares of the biopharmaceutical company's stock worth $166,000 after acquiring an additional 77 shares during the last quarter. Brighton Jones LLC purchased a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter valued at approximately $243,000. Finally, Silvercrest Asset Management Group LLC purchased a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter valued at $1,151,000. 92.97% of the stock is currently owned by institutional investors.

Alnylam Pharmaceuticals Company Profile

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.