Chardan Capital Reaffirms “Buy” Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reissued by stock analysts at Chardan Capital in a research report issued on Friday, Benzinga reports. They currently have a $225.00 price objective on the biopharmaceutical company’s stock. Chardan Capital’s target price suggests a potential upside of 47.71% from the stock’s current price.

Other equities research analysts have also issued reports about the company. BMO Capital Markets reissued an “outperform” rating and issued a $234.00 price target on shares of Alnylam Pharmaceuticals in a research report on Wednesday, March 27th. Royal Bank of Canada reissued an “outperform” rating and set a $235.00 price target on shares of Alnylam Pharmaceuticals in a research report on Tuesday, February 20th. Morgan Stanley reduced their price objective on shares of Alnylam Pharmaceuticals from $184.00 to $176.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 13th. The Goldman Sachs Group lowered shares of Alnylam Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $230.00 to $173.00 in a research note on Friday, February 16th. Finally, Wolfe Research began coverage on Alnylam Pharmaceuticals in a research note on Thursday, February 15th. They issued a “peer perform” rating on the stock. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.88.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ ALNY opened at $152.33 on Friday. Alnylam Pharmaceuticals has a 1 year low of $141.98 and a 1 year high of $218.88. The stock has a market capitalization of $19.19 billion, a P/E ratio of -56.84 and a beta of 0.41. The company has a 50-day moving average price of $149.65 and a 200-day moving average price of $165.14.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.23. The company had revenue of $494.33 million for the quarter, compared to analyst estimates of $428.01 million. Alnylam Pharmaceuticals’s revenue for the quarter was up 54.8% on a year-over-year basis. During the same quarter last year, the firm posted ($1.40) EPS. As a group, equities research analysts anticipate that Alnylam Pharmaceuticals will post -4.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several large investors have recently added to or reduced their stakes in ALNY. Allspring Global Investments Holdings LLC lifted its holdings in Alnylam Pharmaceuticals by 572.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 143 shares during the last quarter. Quent Capital LLC raised its position in shares of Alnylam Pharmaceuticals by 246.0% in the fourth quarter. Quent Capital LLC now owns 173 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 123 shares during the period. Anchor Investment Management LLC purchased a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter valued at approximately $38,000. Robeco Institutional Asset Management B.V. boosted its holdings in Alnylam Pharmaceuticals by 155.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 20,549 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 12,513 shares during the period. Finally, GAMMA Investing LLC purchased a new position in Alnylam Pharmaceuticals in the 4th quarter valued at approximately $52,000. 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.