Alnylam Pharmaceuticals (NASDAQ:ALNY) Coverage Initiated by Analysts at UBS Group

Key Points

• UBS Group initiated coverage of Alnylam Pharmaceuticals with a “buy” rating and a $354 price target, implying 51.59% upside from the prior close.
• Alnylam shares rose 4.0% to $233.53, while the company’s latest quarterly results exceeded earnings expectations with EPS of $1.84 versus the $1.63 consensus estimate; revenue increased 66.9% year over year.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $364.95. Institutional investors own approximately 92.97% of the company, while an executive recently sold shares to cover tax withholding obligations.

Stock analysts at UBS Group initiated coverage on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) in a research note issued to investors on Thursday. The firm set a "buy" rating and a $354.00 price target on the biopharmaceutical company's stock. UBS Group's price target indicates a potential upside of 51.59% from the company's previous close.

ALNY has been the subject of a number of other reports. Truist Financial reduced their price target on shares of Alnylam Pharmaceuticals from $410.00 to $315.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. BMO Capital Markets reissued an "outperform" rating on shares of Alnylam Pharmaceuticals in a research note on Monday, August 31st. Stifel Nicolaus lowered their price target on shares of Alnylam Pharmaceuticals from $444.00 to $318.00 and set a "buy" rating on the stock in a report on Friday, July 31st. Wells Fargo & Company dropped their price target on shares of Alnylam Pharmaceuticals from $256.00 to $253.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Finally, Bank of America cut their price objective on Alnylam Pharmaceuticals from $460.00 to $410.00 and set a "buy" rating for the company in a report on Tuesday, July 14th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $364.95.

Alnylam Pharmaceuticals Trading Up 4.0%

Shares of Alnylam Pharmaceuticals stock traded up $9.05 on Thursday, reaching $233.53. 557,600 shares of the company were exchanged, compared to its average volume of 1,436,235. 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 has a fifty-two week low of $197.81 and a fifty-two week high of $495.55. The firm has a market capitalization of $31.25 billion, a price-to-earnings ratio of 43.38 and a beta of 0.28. The stock has a fifty day moving average price of $238.74 and a 200-day moving average price of $275.22.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $1.84 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.21. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm earned ($0.51) earnings per share. The business's quarterly revenue was up 66.9% on a year-over-year basis. On average, analysts expect that Alnylam Pharmaceuticals will post 6.68 EPS for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, EVP Bryan Supran sold 1,758 shares of the business's stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $226.88, for a total value of $398,855.04. Following the completion of the sale, the executive vice president directly owned 12,807 shares in the company, valued at approximately $2,905,652.16. The trade was a 12.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.86% of the company's stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALNY. MV Capital Management Inc. bought a new position in shares of Alnylam Pharmaceuticals during the fourth quarter valued at $25,000. Toth Financial Advisory Corp bought a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter worth about $25,000. Burkett Financial Services LLC bought a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter worth about $37,000. CoreCap Advisors LLC increased its position in shares of Alnylam Pharmaceuticals by 744.4% during the 3rd quarter. CoreCap Advisors LLC now owns 152 shares of the biopharmaceutical company's stock worth $38,000 after purchasing an additional 134 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. acquired a new stake in shares of Alnylam Pharmaceuticals during the 2nd quarter worth about $42,000. Institutional investors and hedge funds own 92.97% of the company's stock.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines based on RNA interference (RNAi), a biological process that can selectively reduce the production of disease-causing proteins. The company was founded in 2002 and is headquartered in Cambridge, Massachusetts.

Alnylam's commercial products include ONPATTRO (patisiran), an RNAi therapy for hereditary transthyretin-mediated amyloidosis with polyneuropathy; GIVLAARI (givosiran), for acute hepatic porphyria; OXLUMO (lumasiran), for primary hyperoxaluria type 1; and AMVUTTRA (vutrisiran), for transthyretin-mediated amyloidosis.

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