Alnylam Pharmaceuticals (NASDAQ:ALNY) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research note released on Friday, Benzinga reports. The brokerage currently has a $320.00 target price on the biopharmaceutical company’s stock.

Several other research analysts have also recently issued reports on ALNY. Raymond James increased their price target on shares of Alnylam Pharmaceuticals from $242.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. TD Cowen increased their target price on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the company a “buy” rating in a report on Monday, October 21st. Bank of America increased their target price on shares of Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the company a “buy” rating in a report on Monday, October 14th. Wells Fargo & Company increased their target price on shares of Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $300.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $294.50.

Alnylam Pharmaceuticals Stock Up 2.7 %

NASDAQ ALNY traded up $7.32 during trading hours on Friday, hitting $273.91. 866,294 shares of the stock were exchanged, compared to its average volume of 871,240. The company has a market cap of $35.16 billion, a price-to-earnings ratio of -104.55 and a beta of 0.39. Alnylam Pharmaceuticals has a 12-month low of $141.98 and a 12-month high of $304.39. The stock has a 50-day moving average of $274.61 and a 200 day moving average of $225.87.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.61. The firm had revenue of $659.83 million for the quarter, compared to analysts’ expectations of $447.22 million. The company’s revenue for the quarter was up 107.0% on a year-over-year basis. During the same period in the prior year, the company earned ($2.21) earnings per share. On average, equities research analysts expect that Alnylam Pharmaceuticals will post -2.59 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Dennis A. Ausiello sold 20,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $262.00, for a total transaction of $5,305,500.00. Following the sale, the director now owns 136 shares in the company, valued at approximately $35,632. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Dennis A. Ausiello sold 20,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $262.00, for a total transaction of $5,305,500.00. Following the sale, the director now owns 136 shares in the company, valued at approximately $35,632. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Yvonne Greenstreet sold 15,000 shares of Alnylam Pharmaceuticals stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total transaction of $4,200,000.00. Following the completion of the transaction, the chief executive officer now owns 73,441 shares in the company, valued at approximately $20,563,480. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of hedge funds have recently made changes to their positions in ALNY. Capital Research Global Investors boosted its holdings in shares of Alnylam Pharmaceuticals by 7.3% in the 1st quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock valued at $470,018,000 after purchasing an additional 214,908 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Alnylam Pharmaceuticals by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock valued at $550,837,000 after purchasing an additional 201,784 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Alnylam Pharmaceuticals by 92.5% in the 2nd quarter. AQR Capital Management LLC now owns 271,619 shares of the biopharmaceutical company’s stock valued at $65,862,000 after purchasing an additional 130,482 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Alnylam Pharmaceuticals in the 1st quarter valued at $18,886,000. Finally, Deerfield Management Company L.P. Series C acquired a new position in shares of Alnylam Pharmaceuticals in the 2nd quarter valued at $29,111,000. 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.