Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Stock Now Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analysts rate Alnylam Pharmaceuticals a “Moderate Buy”: Of 26 analysts, 17 recommend buying, six rate it a hold, and three issue a strong buy. The average 12-month price target is $364.95.
• Several brokerages recently lowered their price targets, including Oppenheimer to $350, Needham to $357, Bank of America to $410, and Citigroup to $320, while maintaining buy or outperform ratings.
• 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. The stock recently traded at $231.83, well below its 12-month high of $495.55.

Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Get Free Report) have been given an average rating of "Moderate Buy" by the twenty-six analysts that are covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $364.95.

ALNY has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price target on Alnylam Pharmaceuticals from $230.00 to $260.00 and gave the stock a "hold" rating in a report on Tuesday, September 8th. Oppenheimer lowered their price target on shares of Alnylam Pharmaceuticals from $500.00 to $350.00 and set an "outperform" rating for the company in a report on Friday, July 31st. Needham & Company LLC cut their price objective on shares of Alnylam Pharmaceuticals from $510.00 to $357.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Bank of America reduced their price objective on shares of Alnylam Pharmaceuticals from $460.00 to $410.00 and set a "buy" rating on the stock in a research note on Tuesday, July 14th. Finally, Citigroup reduced their price objective on shares of Alnylam Pharmaceuticals from $340.00 to $320.00 and set a "buy" rating on the stock in a research note on Wednesday.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, EVP Bryan Supran sold 1,758 shares of the stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $226.88, for a total transaction of $398,855.04. Following the transaction, the executive vice president owned 12,807 shares of the company's stock, valued at $2,905,652.16. This represents a 12.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 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.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in ALNY. SCS Capital Management LLC purchased a new stake in Alnylam Pharmaceuticals in the 2nd quarter valued at about $34,784,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Alnylam Pharmaceuticals during the second quarter worth approximately $50,773,000. Silvant Capital Management LLC acquired a new position in shares of Alnylam Pharmaceuticals in the 2nd quarter valued at $5,456,000. Hsbc Holdings PLC grew its stake in shares of 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 during the period. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Alnylam Pharmaceuticals during the 2nd quarter worth $2,876,000. Hedge funds and other institutional investors own 92.97% of the company's stock.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ:ALNY traded down $2.20 during midday trading on Friday, hitting $231.83. 1,404,802 shares of the stock were exchanged, compared to its average volume of 1,301,571. The stock has a market cap of $31.02 billion, a P/E ratio of 43.09 and a beta of 0.28. 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 twelve month low of $197.81 and a twelve month high of $495.55. The company has a 50 day moving average price of $239.35 and a 200-day moving average price of $274.34.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released 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. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The business's revenue for the quarter was up 66.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.51) EPS. On average, research analysts forecast that Alnylam Pharmaceuticals will post 6.68 earnings per share for the current year.

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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