Alnylam Pharmaceuticals (NASDAQ:ALNY) Given Buy Rating at HC Wainwright

Key Points

• HC Wainwright reiterated its “Buy” rating on Alnylam Pharmaceuticals and set a $455 price target, implying approximately 89.9% upside from the prior close.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $367.20, despite some firms recently lowering their targets.
• Alnylam reported quarterly EPS of $1.84, exceeding the $1.63 consensus estimate, while revenue rose 66.9% year over year to $1.29 billion; institutional investors own 92.97% of its shares.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at HC Wainwright in a research report issued on Monday, Benzinga reports. They presently have a $455.00 target price on the biopharmaceutical company's stock. HC Wainwright's price target would suggest a potential upside of 89.93% from the stock's previous close.

A number of other brokerages have also issued reports on ALNY. Sanford C. Bernstein reaffirmed a "buy" rating on shares of Alnylam Pharmaceuticals in a research note on Monday, August 31st. Royal Bank Of Canada reduced their price objective on Alnylam Pharmaceuticals from $445.00 to $350.00 and set an "outperform" rating for the company in a research note on Friday, July 31st. BMO Capital Markets restated an "outperform" rating on shares of Alnylam Pharmaceuticals in a report on Monday, August 31st. Oppenheimer lowered their target price on shares of Alnylam Pharmaceuticals from $500.00 to $350.00 and set an "outperform" rating on the stock in a research note on Friday, July 31st. Finally, Raymond James Financial raised shares of Alnylam Pharmaceuticals from an "outperform" rating to a "strong-buy" rating and set a $420.00 target price for the company in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $367.20.

Alnylam Pharmaceuticals Stock Performance

Shares of Alnylam Pharmaceuticals stock opened at $239.56 on Monday. The firm has a market capitalization of $32.06 billion, a PE ratio of 44.53 and a beta of 0.31. Alnylam Pharmaceuticals has a twelve month low of $197.81 and a twelve month high of $495.55. The firm's 50-day moving average price is $247.29 and its 200 day moving average price is $285.63. 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 posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.63 by $0.21. Alnylam Pharmaceuticals had a return on equity of 84.93% and a net margin of 15.26%.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 previous year, the business earned ($0.51) EPS. Alnylam Pharmaceuticals's quarterly revenue was up 66.9% on a year-over-year basis. On average, sell-side analysts predict that Alnylam Pharmaceuticals will post 6.71 EPS for the current fiscal year.

Institutional Trading of Alnylam Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the stock. SCS Capital Management LLC acquired a new stake in shares of Alnylam Pharmaceuticals in the second quarter valued at $34,784,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Alnylam Pharmaceuticals in the 2nd quarter valued at $50,773,000. Hsbc Holdings PLC lifted its stake in Alnylam Pharmaceuticals by 22.6% during the 4th quarter. Hsbc Holdings PLC now owns 89,517 shares of the biopharmaceutical company's stock worth $35,675,000 after acquiring an additional 16,503 shares in the last quarter. Keystone Investors PTE Ltd. acquired a new position in Alnylam Pharmaceuticals during the 4th quarter worth about $3,531,000. Finally, Silvant Capital Management LLC purchased a new position in Alnylam Pharmaceuticals during the 2nd quarter valued at about $5,456,000. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines based on RNA interference (RNAi) technology. RNAi therapies are designed to silence specific genes involved in disease, offering a way to target conditions that may be difficult to treat with conventional drug approaches. The company was founded in 2002 and is headquartered in Cambridge, Massachusetts.

Alnylam's commercial products include Onpattro (patisiran), Givlaari (givosiran), Oxlumo (lumasiran) and Amvuttra (vutrisiran).

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