Alnylam Pharmaceuticals (NASDAQ:ALNY) Reaches New 1-Year High - Still a Buy?

Key Points

• Alnylam Pharmaceuticals reached a new 52-week high, trading at $443.30, with a significant volume of 172,620 shares during recent trading.
• A majority of analysts have upgraded Alnylam's stock, with most assigning a buy rating and an average target price of $403.92.
• In its recent earnings report, the company posted an EPS of $0.32, significantly surpassing expectations, with revenue up 17.3% year-over-year.

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $442.61 and last traded at $443.30, with a volume of 172620 shares. The stock had previously closed at $438.93.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ALNY shares. Bank of America raised their price target on Alnylam Pharmaceuticals from $336.00 to $359.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Needham & Company LLC boosted their price objective on Alnylam Pharmaceuticals from $377.00 to $478.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. HC Wainwright upped their target price on Alnylam Pharmaceuticals from $500.00 to $570.00 and gave the company a "buy" rating in a report on Thursday. Wells Fargo & Company upped their price target on Alnylam Pharmaceuticals from $333.00 to $395.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Finally, Jefferies Financial Group upped their price target on Alnylam Pharmaceuticals from $328.00 to $384.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $403.92.

Alnylam Pharmaceuticals Trading Up 0.9%

The company has a market capitalization of $58.08 billion, a P/E ratio of -179.39 and a beta of 0.25. The company has a debt-to-equity ratio of 4.10, a quick ratio of 2.75 and a current ratio of 2.80. The company has a 50-day simple moving average of $331.79 and a 200 day simple moving average of $284.89.

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

Insider Activity

In other news, CEO Yvonne Greenstreet sold 19,297 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $306.00, for a total transaction of $5,904,882.00. Following the transaction, the chief executive officer directly owned 48,948 shares of the company's stock, valued at approximately $14,978,088. This trade represents a 28.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the stock. SVB Wealth LLC purchased a new stake in shares of Alnylam Pharmaceuticals during the 1st quarter valued at about $27,000. Park Square Financial Group LLC purchased a new stake in Alnylam Pharmaceuticals during the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC lifted its position in Alnylam Pharmaceuticals by 208.8% during the first quarter. Whipplewood Advisors LLC now owns 105 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 71 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of 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 buying an additional 69 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Alnylam Pharmaceuticals in the second quarter worth $30,000. 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.

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