Alnylam Pharmaceuticals (NASDAQ:ALNY) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Alnylam Pharmaceuticals from “buy” to “strong-buy,” adding to a generally positive analyst backdrop. MarketBeat data shows an average rating of Moderate Buy with an average target price of $463.13.
• The company recently reported strong quarterly results, posting $1.99 EPS versus the $0.87 consensus estimate and $1.17 billion in revenue, which also topped expectations. Revenue jumped 96.4% year over year.
• Despite the upbeat fundamentals, insider selling has continued, including recent share sales by Director David E. I. Pyott and insider Melissa Mclaughlin. Institutional ownership remains high at 92.97%.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Monday.

A number of other analysts have also recently commented on the company. Wells Fargo & Company upped their price target on Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the company an "equal weight" rating in a research note on Friday, May 1st. Weiss Ratings raised shares of Alnylam Pharmaceuticals from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, May 4th. Citigroup initiated coverage on Alnylam Pharmaceuticals in a research note on Tuesday, May 19th. They issued a "buy" rating and a $380.00 target price for the company. Jefferies Financial Group reaffirmed a "hold" rating and set a $330.00 price target (down from $522.00) on shares of Alnylam Pharmaceuticals in a research report on Monday, March 16th. Finally, Truist Financial cut their price target on shares of Alnylam Pharmaceuticals from $515.00 to $505.00 and set a "buy" rating on the stock in a research note on Monday, April 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $463.13.

Alnylam Pharmaceuticals Stock Performance

Shares of Alnylam Pharmaceuticals stock opened at $291.37 on Monday. The stock has a market capitalization of $38.90 billion, a P/E ratio of 79.61 and a beta of 0.29. The company has a quick ratio of 3.06, a current ratio of 3.13 and a debt-to-equity ratio of 0.94. The company has a 50-day simple moving average of $296.26 and a 200 day simple moving average of $331.38. Alnylam Pharmaceuticals has a 12-month low of $273.11 and a 12-month high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $1.12. The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.12 billion. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The business's revenue was up 96.4% on a year-over-year basis. During the same period last year, the firm posted ($0.44) EPS. Research analysts expect that Alnylam Pharmaceuticals will post 7.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of Alnylam Pharmaceuticals stock in a transaction on Monday, June 1st. The shares were sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the completion of the transaction, the director directly owned 1,582 shares of the company's stock, valued at $473,302.76. The trade was a 70.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Melissa Mclaughlin sold 2,286 shares of the company's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $330.42, for a total transaction of $755,340.12. Following the completion of the transaction, the insider owned 9,443 shares in the company, valued at approximately $3,120,156.06. This trade represents a 19.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 7,740 shares of company stock worth $2,420,214. Company insiders own 0.86% of the company's stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. MV Capital Management Inc. acquired a new stake in Alnylam Pharmaceuticals during the 4th quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Alnylam Pharmaceuticals during the third quarter worth $29,000. HM Payson & Co. bought a new position in Alnylam Pharmaceuticals during the fourth quarter worth $27,000. Ameriflex Group Inc. acquired a new position in Alnylam Pharmaceuticals in the third quarter valued at $32,000. Finally, Golden State Wealth Management LLC lifted its holdings in Alnylam Pharmaceuticals by 100.0% in the fourth quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 36 shares during the period. Institutional investors own 92.97% of the company's stock.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc NASDAQ: ALNY is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.

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