Piper Sandler Reaffirms Overweight Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Piper Sandler restated their overweight rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research report report published on Monday morning,Benzinga reports. They currently have a $296.00 price objective on the biopharmaceutical company’s stock.

Several other research firms also recently weighed in on ALNY. The Goldman Sachs Group upgraded Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their target price for the company from $198.00 to $370.00 in a research report on Friday, August 16th. Scotiabank upped their target price on shares of Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and set a $320.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. Wolfe Research lowered Alnylam Pharmaceuticals from a “peer perform” rating to an “underperform” rating in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, Alnylam Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $298.09.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY opened at $232.27 on Monday. The company has a market capitalization of $29.96 billion, a P/E ratio of -88.65 and a beta of 0.39. The firm has a 50 day moving average of $274.53 and a 200 day moving average of $236.10. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $304.39. The company has a quick ratio of 2.69, a current ratio of 2.75 and a debt-to-equity ratio of 31.64.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.36). The firm had revenue of $500.90 million for the quarter, compared to analysts’ expectations of $532.91 million. The firm’s revenue for the quarter was down 33.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.15 EPS. As a group, equities research analysts anticipate that Alnylam Pharmaceuticals will post -2.22 earnings per share for the current fiscal year.

Institutional Trading of Alnylam Pharmaceuticals

Several institutional investors have recently modified their holdings of ALNY. Allspring Global Investments Holdings LLC raised its stake in Alnylam Pharmaceuticals by 572.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 143 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Alnylam Pharmaceuticals during the second quarter worth about $26,000. Huntington National Bank lifted its holdings in shares of Alnylam Pharmaceuticals by 91.8% in the 3rd quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 45 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at about $29,000. Finally, Altitude Crest Partners Inc. purchased a new position in Alnylam Pharmaceuticals during the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.