Wall Street Zen Upgrades Alnylam Pharmaceuticals (NASDAQ:ALNY) to "Strong-Buy"

Key Points

• Wall Street Zen upgraded Alnylam Pharmaceuticals from buy to strong-buy, adding to a broadly positive analyst outlook. The stock still carries a consensus rating of Moderate Buy with an average target price of $463.13.
• Despite the upgrade, ALNY shares fell 2.3% and opened at $282.85, near the stock’s 52-week low of $281.77. The company has a market cap of about $37.76 billion and a beta of 0.29.
• Alnylam recently reported strong quarterly results, with EPS of $1.99 versus estimates of $0.87 and revenue of $1.17 billion, up 96.4% year over year. However, insiders have been selling shares recently, including director David E. I. Pyott and insider Melissa Mclaughlin.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday.

Several other analysts have also commented on ALNY. Canaccord Genuity Group raised their price objective on Alnylam Pharmaceuticals from $415.00 to $429.00 and gave the company a "buy" rating in a report on Tuesday, February 17th. Weiss Ratings raised Alnylam Pharmaceuticals from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, May 4th. HC Wainwright reissued a "buy" rating and issued a $510.00 price objective on shares of Alnylam Pharmaceuticals in a report on Thursday, June 4th. Truist Financial dropped their price objective on Alnylam Pharmaceuticals from $515.00 to $505.00 and set a "buy" rating on the stock in a report on Monday, April 13th. Finally, Chardan Capital reissued a "buy" rating and issued a $425.00 price objective on shares of Alnylam Pharmaceuticals in a report on Wednesday, March 25th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $463.13.

Alnylam Pharmaceuticals Stock Down 2.3%

Shares of ALNY stock opened at $282.85 on Friday. The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94. Alnylam Pharmaceuticals has a twelve month low of $281.77 and a twelve month high of $495.55. The stock has a 50 day moving average of $304.31 and a 200 day moving average of $343.68. The stock has a market cap of $37.76 billion, a P/E ratio of 77.28 and a beta of 0.29.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, beating the consensus estimate of $0.87 by $1.12. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the company earned ($0.44) earnings per share. Alnylam Pharmaceuticals's quarterly revenue was up 96.4% compared to the same quarter last year. As a group, sell-side analysts expect that Alnylam Pharmaceuticals will post 7.47 EPS for the current year.

Insider Buying and Selling

In other news, Director David E. I. Pyott sold 3,830 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $299.18, for a total value of $1,145,859.40. Following the sale, the director directly owned 1,582 shares of the company's stock, valued at $473,302.76. The trade was a 70.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Melissa Mclaughlin sold 2,286 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $330.42, for a total value of $755,340.12. Following the completion of the sale, the insider directly owned 9,443 shares in the company, valued at $3,120,156.06. This represents a 19.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 7,740 shares of company stock worth $2,420,214 over the last ninety days. Corporate insiders own 0.86% of the company's stock.

Institutional Trading of Alnylam Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. First Horizon Corp lifted its stake in shares of Alnylam Pharmaceuticals by 20.7% in the 4th quarter. First Horizon Corp now owns 163 shares of the biopharmaceutical company's stock valued at $65,000 after purchasing an additional 28 shares during the last quarter. Yousif Capital Management LLC lifted its stake in shares of Alnylam Pharmaceuticals by 1.8% in the 4th quarter. Yousif Capital Management LLC now owns 1,676 shares of the biopharmaceutical company's stock valued at $666,000 after purchasing an additional 29 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Alnylam Pharmaceuticals by 15.6% in the 3rd quarter. Bessemer Group Inc. now owns 222 shares of the biopharmaceutical company's stock valued at $101,000 after purchasing an additional 30 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Alnylam Pharmaceuticals by 0.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company's stock valued at $4,220,000 after purchasing an additional 35 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its stake in shares of 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. 92.97% of the stock is owned by institutional investors and hedge funds.

Alnylam Pharmaceuticals Company Profile

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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