Alnylam Pharmaceuticals (NASDAQ:ALNY) Shares Climb 6.9% - Still a Buy?

Key Points

• Alnylam shares rose 6.9% to about $167.38, although trading volume was 88% below its average.
• Analysts’ consensus rating is Moderate Buy, with a $305.86 average price target; several firms recently cut their targets, including Goldman Sachs to $320 and Bank of America to $287.
• Quarterly revenue increased 16.7% year over year to $1.46 billion, topping estimates. Reported EPS was $16.26 versus the $1.66 consensus estimate.

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Get Free Report) shot up 6.9% on Friday. The stock traded as high as $165.37 and last traded at $167.3820. Approximately 184,975 shares were traded during trading, a decline of 88% from the average session volume of 1,591,964 shares. The stock had previously closed at $156.65.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Alnylam Pharmaceuticals in a research note on Thursday, October 29th. The Goldman Sachs Group lowered their target price on Alnylam Pharmaceuticals from $536.00 to $320.00 and set a "buy" rating for the company in a research report on Friday, October 30th. BMO Capital Markets restated an "outperform" rating and issued a $290.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday, October 30th. Bank of America reaffirmed a "buy" rating and set a $287.00 price target (down from $460.00) on shares of Alnylam Pharmaceuticals in a research note on Friday, October 30th. Finally, Wall Street Zen lowered shares of Alnylam Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Sunday, August 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $305.86.

Alnylam Pharmaceuticals Trading Up 5.5%

The company has a 50-day moving average price of $221.24 and a two-hundred day moving average price of $276.94. The stock has a market cap of $22.14 billion, a P/E ratio of 8.53 and a beta of 0.42. The company has a current ratio of 2.48, a quick ratio of 2.43 and a debt-to-equity ratio of 0.18.

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

Insider Activity

In other news, EVP Bryan Supran sold 1,758 shares of the firm's 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 approximately $2,905,652.16. This trade represents a 12.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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

Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Alnylam Pharmaceuticals by 9.0% during the second quarter. Wellington Management Group LLP now owns 2,110,407 shares of the biopharmaceutical company's stock valued at $635,296,000 after buying an additional 174,482 shares during the last quarter. Legal & General Group Plc bought a new stake in Alnylam Pharmaceuticals during the 2nd quarter valued at about $278,321,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Alnylam Pharmaceuticals by 7.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,848 shares of the biopharmaceutical company's stock valued at $219,104,000 after buying an additional 50,329 shares during the period. First Trust Advisors LP boosted its position in Alnylam Pharmaceuticals by 31.5% in the 3rd quarter. First Trust Advisors LP now owns 554,266 shares of the biopharmaceutical company's stock valued at $136,759,000 after buying an additional 132,732 shares during the period. Finally, Pictet Asset Management Holding SA boosted its position in Alnylam Pharmaceuticals by 77.7% in the 3rd quarter. Pictet Asset Management Holding SA now owns 495,168 shares of the biopharmaceutical company's stock valued at $122,783,000 after buying an additional 216,555 shares during the period. 92.97% of the stock is currently owned by institutional investors.

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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