Alnylam Pharmaceuticals (NASDAQ:ALNY) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a report released on Friday morning,Benzinga reports. They currently have a $320.00 price objective on the biopharmaceutical company’s stock.

A number of other equities analysts also recently issued reports on ALNY. William Blair reiterated an “outperform” rating on shares of Alnylam Pharmaceuticals in a research report on Tuesday, November 19th. Chardan Capital reiterated a “buy” rating and set a $300.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. Raymond James increased their price target on Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Wolfe Research downgraded 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 target on shares of Alnylam Pharmaceuticals in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $299.43.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY stock opened at $256.45 on Friday. The stock has a market cap of $33.08 billion, a PE ratio of -97.88 and a beta of 0.35. The business has a 50-day simple moving average of $254.03 and a 200-day simple moving average of $263.14. 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 has a 52-week low of $141.98 and a 52-week high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). On average, equities analysts expect that Alnylam Pharmaceuticals will post -2.24 EPS for the current year.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, CMO Pushkal Garg sold 52,592 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $285.00, for a total transaction of $14,988,720.00. Following the completion of the sale, the chief marketing officer now owns 11,989 shares of the company’s stock, valued at $3,416,865. This trade represents a 81.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tolga Tanguler sold 1,469 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total value of $368,689.62. Following the sale, the executive vice president now directly owns 13,191 shares of the company’s stock, valued at approximately $3,310,677.18. This trade represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,964 shares of company stock valued at $20,622,925 over the last quarter. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Huntington National Bank increased its stake in Alnylam Pharmaceuticals by 91.8% during the third quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 45 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Alnylam Pharmaceuticals by 187.2% during the fourth quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 73 shares during the period. Hollencrest Capital Management purchased a new position in shares of Alnylam Pharmaceuticals during the third quarter worth $29,000. R Squared Ltd purchased a new position in shares of Alnylam Pharmaceuticals during the fourth quarter worth $33,000. Finally, OFI Invest Asset Management purchased a new position in shares of Alnylam Pharmaceuticals during the fourth quarter worth $35,000. Institutional investors and hedge funds own 92.97% of the company’s stock.

About Alnylam Pharmaceuticals

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.