HC Wainwright Reaffirms Buy Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report released on Monday, MarketBeat Ratings reports. They presently have a $400.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 70.74% from the stock’s previous close.

ALNY has been the topic of several other research reports. Barclays lifted their target price on shares of Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Bank of America upped their price objective on shares of Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the company a “buy” rating in a research note on Monday, October 14th. TD Cowen increased their price objective 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. Needham & Company LLC restated a “buy” rating and set a $320.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $298.09.

Alnylam Pharmaceuticals Stock Performance

NASDAQ ALNY opened at $234.27 on Monday. The stock has a market capitalization of $30.22 billion, a price-to-earnings ratio of -89.42 and a beta of 0.39. The stock has a 50-day moving average of $274.10 and a 200 day moving average of $236.68. The company has a current ratio of 2.75, a quick ratio of 2.69 and a debt-to-equity ratio of 31.64. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.36). The business had revenue of $500.90 million for the quarter, compared to analyst estimates of $532.91 million. The firm’s quarterly revenue was down 33.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.15 earnings per share. Sell-side analysts anticipate that Alnylam Pharmaceuticals will post -2.22 EPS for the current fiscal year.

Institutional Trading of Alnylam Pharmaceuticals

A number of large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in Alnylam Pharmaceuticals by 572.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 143 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Alnylam Pharmaceuticals during the 2nd quarter worth about $26,000. Huntington National Bank lifted 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 purchasing an additional 45 shares during the last quarter. Hollencrest Capital Management acquired a new position in Alnylam Pharmaceuticals in the third quarter valued at approximately $29,000. Finally, Altitude Crest Partners Inc. purchased a new position in Alnylam Pharmaceuticals in the first quarter valued at approximately $30,000. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

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.