Alnylam Pharmaceuticals (NASDAQ:ALNY) Upgraded to "Strong-Buy" at BMO Capital Markets

Key Points

• BMO Capital Markets upgraded Alnylam Pharmaceuticals to “strong-buy,” while the broader analyst consensus remains “Moderate Buy” with a $386.62 average price target.
• Alnylam shares opened at $242.61, up 6.1%, but remain below their 50-day and 200-day moving averages and well below the 1-year high of $495.55.
• The company exceeded quarterly EPS expectations, reporting $1.84 versus the $1.63 consensus, while revenue rose 66.9% year over year to $1.29 billion, slightly below estimates.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) was upgraded by research analysts at BMO Capital Markets to a "strong-buy" rating in a note issued to investors on Tuesday,Zacks.com reports.

Other analysts have also issued research reports about the company. Wall Street Zen lowered Alnylam Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Sunday, August 2nd. JPMorgan Chase & Co. decreased their price objective on Alnylam Pharmaceuticals from $400.00 to $375.00 and set an "overweight" rating on the stock in a research note on Friday, July 31st. Needham & Company LLC lowered their price objective on Alnylam Pharmaceuticals from $510.00 to $357.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Chardan Capital reiterated a "buy" rating and set a $425.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday, July 31st. Finally, Wells Fargo & Company reduced their target price on shares of Alnylam Pharmaceuticals from $316.00 to $256.00 and set an "equal weight" rating for the company in a report on Friday, August 14th. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $386.62.

Alnylam Pharmaceuticals Stock Up 6.1%

ALNY opened at $242.61 on Tuesday. The firm's 50 day simple moving average is $269.15 and its two-hundred day simple moving average is $298.51. The company has a market capitalization of $32.46 billion, a PE ratio of 45.09 and a beta of 0.30. Alnylam Pharmaceuticals has a 1-year low of $197.81 and a 1-year high of $495.55. The company has a current ratio of 3.05, a quick ratio of 2.99 and a debt-to-equity ratio of 0.75.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.21. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.32 billion. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The company's revenue for the quarter was up 66.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.51) EPS. As a group, equities analysts forecast that Alnylam Pharmaceuticals will post 6.59 EPS for the current year.

Insider Buying and Selling

In other news, Director David E. I. Pyott sold 3,830 shares of the company's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $299.18, for a total value of $1,145,859.40. Following the completion of the transaction, the director owned 1,582 shares of the company's stock, valued at $473,302.76. This represents a 70.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALNY. iA Global Asset Management Inc. increased its holdings in shares of Alnylam Pharmaceuticals by 979.5% in the fourth quarter. iA Global Asset Management Inc. now owns 17,780 shares of the biopharmaceutical company's stock worth $7,070,000 after purchasing an additional 16,133 shares during the last quarter. SCS Capital Management LLC bought a new position in Alnylam Pharmaceuticals during the second quarter valued at approximately $34,784,000. Hussman Strategic Advisors Inc. purchased a new position in Alnylam Pharmaceuticals during the 4th quarter valued at approximately $2,505,000. Hsbc Holdings PLC grew its holdings in Alnylam Pharmaceuticals by 22.6% during the 4th quarter. Hsbc Holdings PLC now owns 89,517 shares of the biopharmaceutical company's stock valued at $35,675,000 after buying an additional 16,503 shares in the last quarter. Finally, Brighton Jones LLC bought a new stake in Alnylam Pharmaceuticals in the 4th quarter worth approximately $243,000. 92.97% of the stock is owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Company Profile

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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