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 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 presently has a $490.00 price target on the biopharmaceutical company's stock. Oppenheimer's price target would indicate a potential upside of 21.95% from the stock's current price.

ALNY has been the subject of several other research reports. Scotiabank lifted their target price on Alnylam Pharmaceuticals from $342.00 to $450.00 and gave the stock a "sector outperform" rating in a research report on Friday. Piper Sandler lifted their target price on Alnylam Pharmaceuticals from $304.00 to $449.00 and gave the company an "overweight" rating in a research note on Friday. Raymond James Financial started coverage on Alnylam Pharmaceuticals in a research note on Wednesday, July 30th. They set an "outperform" rating and a $370.00 target price on the stock. Needham & Company LLC boosted their price objective on Alnylam Pharmaceuticals from $377.00 to $478.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Morgan Stanley boosted their target price on Alnylam Pharmaceuticals from $312.00 to $405.00 and gave the stock an "equal weight" rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $396.04.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ ALNY opened at $401.80 on Monday. Alnylam Pharmaceuticals has a fifty-two week low of $205.87 and a fifty-two week high of $402.43. The business has a 50 day moving average price of $318.24 and a two-hundred day moving average price of $279.01. The company has a quick ratio of 2.98, a current ratio of 3.04 and a debt-to-equity ratio of 8.88. The firm has a market cap of $52.67 billion, a PE ratio of -162.67 and a beta of 0.25.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.07). Alnylam Pharmaceuticals had a negative net margin of 12.96% and a negative return on equity of 444.38%. The business had revenue of $594.19 million for the quarter, compared to analyst estimates of $584.32 million. During the same quarter last year, the business earned ($0.16) EPS. Alnylam Pharmaceuticals's revenue for the quarter was up 20.2% compared to the same quarter last year. Sell-side analysts expect that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 31,640 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $304.39, for a total value of $9,630,899.60. Following the transaction, the chief executive officer directly owned 48,948 shares in the company, valued at approximately $14,899,281.72. This trade represents a 39.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ALNY. Capital Research Global Investors lifted its stake in shares of Alnylam Pharmaceuticals by 32.9% in the 4th quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company's stock valued at $1,639,767,000 after purchasing an additional 1,724,610 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in Alnylam Pharmaceuticals by 39.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company's stock worth $1,031,705,000 after acquiring an additional 1,245,195 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Alnylam Pharmaceuticals by 2.5% during the first quarter. Vanguard Group Inc. now owns 13,056,605 shares of the biopharmaceutical company's stock worth $3,525,544,000 after acquiring an additional 323,206 shares in the last quarter. Marshall Wace LLP lifted its holdings in Alnylam Pharmaceuticals by 496.6% during the fourth quarter. Marshall Wace LLP now owns 378,649 shares of the biopharmaceutical company's stock worth $89,100,000 after acquiring an additional 315,182 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Alnylam Pharmaceuticals by 60.9% during the fourth quarter. AQR Capital Management LLC now owns 813,356 shares of the biopharmaceutical company's stock worth $191,391,000 after acquiring an additional 307,702 shares in the last quarter. Institutional investors and hedge funds 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.

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