Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Stock Now Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Wall Street rates Alnylam a “Moderate Buy”: Of 26 analysts, 16 recommend buying or strong buying and 10 recommend holding; the average 12-month price target is $305.86.
• Several firms recently cut their price targets, including Bank of America ($460 to $287), TD Cowen ($482 to $354) and UBS ($550 to $329), while maintaining buy ratings.
• Quarterly results topped expectations: Alnylam reported EPS of $16.26 versus a $1.66 consensus estimate and revenue of $1.46 billion, up 16.7% year over year.

Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twenty-six analysts that are covering the firm, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $305.86.

A number of equities research analysts have recently issued reports on the company. Bank of America restated a "buy" rating and set a $287.00 price objective (down from $460.00) on shares of Alnylam Pharmaceuticals in a report on Friday, October 30th. Oppenheimer lowered their target price on Alnylam Pharmaceuticals from $350.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, October 30th. TD Cowen dropped their price target on Alnylam Pharmaceuticals from $482.00 to $354.00 and set a "buy" rating for the company in a report on Friday, October 30th. Wall Street Zen downgraded Alnylam Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Finally, UBS Group reduced their price target on Alnylam Pharmaceuticals from $550.00 to $329.00 and set a "buy" rating for the company in a research note on Friday, October 30th.

Alnylam Pharmaceuticals Stock Performance

ALNY opened at $151.64 on Wednesday. Alnylam Pharmaceuticals has a 12-month low of $149.18 and a 12-month high of $479.79. The stock has a market cap of $20.31 billion, a price-to-earnings ratio of 7.87 and a beta of 0.42. The business has a 50 day moving average of $225.18 and a 200-day moving average of $278.96. The company has a quick ratio of 2.43, a current ratio of 2.48 and a debt-to-equity ratio of 0.18.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported $16.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $14.60. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.43 billion. Alnylam Pharmaceuticals had a return on equity of 155.33% and a net margin of 52.85%. The company's quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.90 EPS. On average, equities research analysts expect that Alnylam Pharmaceuticals will post 6.85 earnings per share for the current year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, EVP Bryan Supran sold 1,758 shares of Alnylam Pharmaceuticals stock in a transaction dated Friday, October 2nd. The shares were 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 owned 12,807 shares in the company, valued at $2,905,652.16. The trade was a 12.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate 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. Private Advisor Group LLC boosted its position in shares of Alnylam Pharmaceuticals by 60.9% during the 3rd quarter. Private Advisor Group LLC now owns 1,215 shares of the biopharmaceutical company's stock worth $300,000 after acquiring an additional 460 shares in the last quarter. Ieq Capital LLC raised its position in Alnylam Pharmaceuticals by 122.9% during the third quarter. Ieq Capital LLC now owns 34,348 shares of the biopharmaceutical company's stock valued at $8,475,000 after purchasing an additional 18,938 shares in the last quarter. Focus Advisor Solutions LLC raised its position in Alnylam Pharmaceuticals by 481.2% during the third quarter. Focus Advisor Solutions LLC now owns 6,585 shares of the biopharmaceutical company's stock valued at $1,625,000 after purchasing an additional 5,452 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in Alnylam Pharmaceuticals during the third quarter worth $595,000. Finally, Edgestream Partners L.P. bought a new stake in Alnylam Pharmaceuticals during the third quarter worth $663,000. 92.97% of the stock is owned by institutional investors and hedge funds.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals is a biopharmaceutical company focused on discovering, developing and commercializing medicines based on RNA interference (RNAi), a biological process that can reduce the production of specific disease-causing proteins. Founded in 2002 and headquartered in Cambridge, Massachusetts, the company helped advance RNAi from a scientific discovery into a therapeutic approach. Its marketed medicines include ONPATTRO (patisiran) and AMVUTTRA (vutrisiran) for hereditary transthyretin-mediated amyloidosis, GIVLAARI (givosiran) for acute hepatic porphyria, and OXLUMO (lumasiran) for primary hyperoxaluria type 1.

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