Alnylam Pharmaceuticals (NASDAQ:ALNY) Upgraded to Strong-Buy at UBS Group

Key Points

• UBS upgraded Alnylam Pharmaceuticals to “strong buy,” while the broader analyst consensus remains “Moderate Buy,” with an average price target of $364.95.
• Alnylam shares traded at $231.83, well below their 52-week high of $495.55. The company recently beat quarterly EPS estimates, reporting $1.84 versus the expected $1.63, while revenue rose 66.9% year over year.
• Institutional investors own 92.97% of the company, and several asset managers recently initiated or increased positions in Alnylam.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) was upgraded by UBS Group to a "strong-buy" rating in a report released on Wednesday, Zacks reports.

ALNY has been the topic of several other research reports. Citigroup lowered their target price on shares of Alnylam Pharmaceuticals from $340.00 to $320.00 and set a "buy" rating on the stock in a report on Wednesday. JPMorgan Chase & Co. cut their target price on shares of Alnylam Pharmaceuticals from $375.00 to $369.00 and set an "overweight" rating for the company in a research note on Wednesday, September 30th. Royal Bank Of Canada cut their target price on shares of Alnylam Pharmaceuticals from $350.00 to $345.00 and set an "outperform" rating for the company in a research note on Thursday, October 8th. Zacks Research upgraded shares of Alnylam Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Monday, October 5th. Finally, Morgan Stanley decreased their price target on shares of Alnylam Pharmaceuticals from $400.00 to $300.00 and set an "equal weight" rating on the stock in a research note on Friday, July 31st. Four research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Alnylam Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $364.95.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ:ALNY traded down $2.20 during trading on Wednesday, hitting $231.83. 1,404,802 shares of the company's stock were exchanged, compared to its average volume of 1,301,571. The business's 50-day simple moving average is $239.35 and its 200 day simple moving average is $274.34. The company has a market cap of $31.02 billion, a price-to-earnings ratio of 43.09 and a beta of 0.28. Alnylam Pharmaceuticals has a 52-week low of $197.81 and a 52-week high of $495.55. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.05 and a quick ratio of 2.99.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.32 billion. During the same period in the previous year, the firm earned ($0.51) EPS. The firm's revenue was up 66.9% compared to the same quarter last year. As a group, equities analysts predict 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 on Friday, October 2nd. The shares were sold at an average price of $226.88, for a total value of $398,855.04. Following the sale, the executive vice president owned 12,807 shares in the company, valued at approximately $2,905,652.16. The trade was a 12.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.86% of the company's stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. SCS Capital Management LLC bought a new position in shares of Alnylam Pharmaceuticals in the 2nd quarter valued at about $34,784,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Alnylam Pharmaceuticals during the second quarter worth approximately $50,773,000. Silvant Capital Management LLC bought a new stake in Alnylam Pharmaceuticals during the second quarter worth approximately $5,456,000. Hsbc Holdings PLC increased its stake in Alnylam Pharmaceuticals by 22.6% during the fourth 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 during the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in Alnylam Pharmaceuticals during the second quarter valued at approximately $2,876,000. Institutional investors own 92.97% of the company's stock.

About Alnylam Pharmaceuticals

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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