Wall Street Zen Upgrades Alnylam Pharmaceuticals (NASDAQ:ALNY) to Strong-Buy

Key Points

• Alnylam Pharmaceuticals has been upgraded from a "buy" to a "strong-buy" rating by Wall Street Zen, signaling increased analyst confidence in the stock.
• Major investment firms have raised their price targets for Alnylam Pharmaceuticals, with UBS increasing its target to $550.00 and BMO Capital Markets to $360.00.
• The company reported better-than-expected earnings of $0.32 per share, significantly beating the consensus estimate of ($0.54), demonstrating strong quarterly revenue growth.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company upped their target price on shares of Alnylam Pharmaceuticals from $333.00 to $395.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Truist Financial assumed coverage on shares of Alnylam Pharmaceuticals in a research report on Monday, July 21st. They set a "buy" rating and a $385.00 target price on the stock. Wolfe Research upgraded shares of Alnylam Pharmaceuticals from an "underperform" rating to a "peer perform" rating in a research report on Monday, August 4th. BMO Capital Markets upped their target price on shares of Alnylam Pharmaceuticals from $300.00 to $360.00 and gave the company an "outperform" rating in a research report on Tuesday, June 24th. Finally, Citigroup upped their target price on shares of Alnylam Pharmaceuticals from $364.00 to $404.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Alnylam Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $403.92.

Alnylam Pharmaceuticals Price Performance

NASDAQ:ALNY traded up $2.05 during mid-day trading on Friday, reaching $431.98. 1,002,975 shares of the company were exchanged, compared to its average volume of 942,640. Alnylam Pharmaceuticals has a 12 month low of $205.87 and a 12 month high of $445.20. The company has a fifty day moving average of $336.89 and a 200 day moving average of $286.99. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 4.10. The stock has a market cap of $56.62 billion, a PE ratio of -175.52 and a beta of 0.25.

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

Insider Transactions at Alnylam Pharmaceuticals

In related news, CEO Yvonne Greenstreet sold 31,640 shares of the 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 sale, the chief executive officer 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 is accessible through this hyperlink. 1.20% of the stock is owned by company insiders.

Institutional Trading of Alnylam Pharmaceuticals

Large investors have recently modified their holdings of the business. Capital World Investors increased its stake in Alnylam Pharmaceuticals by 0.6% in the 4th quarter. Capital World Investors now owns 16,600,525 shares of the biopharmaceutical company's stock worth $3,906,284,000 after purchasing an additional 92,101 shares during the period. Vanguard Group Inc. raised its stake in shares of Alnylam Pharmaceuticals by 1.8% in the second quarter. Vanguard Group Inc. now owns 13,297,139 shares of the biopharmaceutical company's stock worth $4,336,064,000 after purchasing an additional 240,534 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Alnylam Pharmaceuticals by 32.9% in the fourth quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company's stock worth $1,639,767,000 after purchasing an additional 1,724,610 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Alnylam Pharmaceuticals by 0.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,418,145 shares of the biopharmaceutical company's stock worth $1,192,988,000 after acquiring an additional 33,696 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Alnylam Pharmaceuticals by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,505,168 shares of the biopharmaceutical company's stock worth $946,466,000 after acquiring an additional 185,783 shares during the period. 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.