Jefferies Financial Group Issues Positive Forecast for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Key Points

• Jefferies raised Alnylam Pharmaceuticals’ price target from $230 to $260 but maintained a “Hold” rating, implying roughly 0.4% downside from the stock’s current price.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $382.96; ratings include two Strong Buys, 18 Buys, and five Holds.
• Alnylam shares fell 1.9% to $261.11 in Tuesday trading. The company recently beat quarterly EPS expectations, reporting $1.84 versus a $1.63 consensus, while revenue rose 66.9% year over year to $1.29 billion.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price objective increased by investment analysts at Jefferies Financial Group from $230.00 to $260.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a "hold" rating on the biopharmaceutical company's stock. Jefferies Financial Group's price objective points to a potential downside of 0.43% from the stock's current price.

Several other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Alnylam Pharmaceuticals from $400.00 to $375.00 and set an "overweight" rating on the stock in a report on Friday, July 31st. Raymond James Financial raised shares of Alnylam Pharmaceuticals from an "outperform" rating to a "strong-buy" rating and set a $420.00 target price on the stock in a research report on Monday, August 3rd. Chardan Capital reaffirmed a "buy" rating and issued a $425.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, July 31st. Needham & Company LLC cut their target price 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. Finally, HC Wainwright reaffirmed a "buy" rating and set a $455.00 price target on shares of Alnylam Pharmaceuticals in a research report on Wednesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $382.96.

Alnylam Pharmaceuticals Stock Down 1.9%

NASDAQ:ALNY traded down $5.00 during midday trading on Tuesday, reaching $261.11. 659,265 shares of the stock traded hands, compared to its average volume of 1,452,661. Alnylam Pharmaceuticals has a 12-month low of $197.81 and a 12-month high of $495.55. The business has a 50-day moving average of $258.70 and a two-hundred day moving average of $290.98. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.99 and a current ratio of 3.05. The stock has a market capitalization of $34.94 billion, a PE ratio of 48.31 and a beta of 0.31.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.21. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company earned ($0.51) earnings per share. The business's revenue for the quarter was up 66.9% on a year-over-year basis. On average, equities analysts forecast that Alnylam Pharmaceuticals will post 6.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds have recently bought and sold shares of ALNY. MV Capital Management Inc. acquired a new stake in Alnylam Pharmaceuticals during the 4th quarter worth $25,000. HM Payson & Co. acquired a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter valued at about $27,000. Golden State Wealth Management LLC increased its holdings in Alnylam Pharmaceuticals by 100.0% in the 4th quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 36 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at $29,000. Finally, Manchester Capital Management LLC boosted its stake in shares of Alnylam Pharmaceuticals by 600.0% in the fourth quarter. Manchester Capital Management LLC now owns 84 shares of the biopharmaceutical company's stock valued at $33,000 after purchasing an additional 72 shares during the period. Hedge funds and other 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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