Alnylam Pharmaceuticals (NASDAQ:ALNY) Upgraded by Wall Street Zen to Strong-Buy Rating

Alnylam Pharmaceuticals (NASDAQ:ALNY) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

ALNY has been the subject of several other research reports. Morgan Stanley raised their price objective on shares of Alnylam Pharmaceuticals from $370.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. cut their target price on shares of Alnylam Pharmaceuticals from $420.00 to $400.00 and set an “overweight” rating on the stock in a research note on Wednesday. HC Wainwright raised their price target on shares of Alnylam Pharmaceuticals from $470.00 to $485.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Bank of America dropped their price objective on shares of Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. Finally, Truist Financial cut their price objective on shares of Alnylam Pharmaceuticals from $505.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $452.13.

Alnylam Pharmaceuticals Stock Up 1.1%

Shares of NASDAQ:ALNY opened at $271.77 on Friday. Alnylam Pharmaceuticals has a 1 year low of $262.21 and a 1 year high of $495.55. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.13 and a quick ratio of 3.06. The business’s 50-day moving average is $292.22 and its 200-day moving average is $316.64. The company has a market capitalization of $36.28 billion, a price-to-earnings ratio of 74.25 and a beta of 0.27.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, topping the consensus estimate of $0.87 by $1.12. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the firm posted ($0.44) earnings per share. The firm’s revenue was up 96.4% on a year-over-year basis. Equities research analysts predict that Alnylam Pharmaceuticals will post 7.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director David E. I. Pyott sold 3,830 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $299.18, for a total value of $1,145,859.40. Following the transaction, the director owned 1,582 shares of the company’s stock, valued at approximately $473,302.76. This trade represents a 70.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of Alnylam Pharmaceuticals by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 2,650,722 shares of the biopharmaceutical company’s stock valued at $1,056,884,000 after acquiring an additional 151,480 shares during the last quarter. Norges Bank bought a new position in Alnylam Pharmaceuticals in the 4th quarter valued at $895,816,000. Orbis Allan Gray Ltd increased its position in shares of Alnylam Pharmaceuticals by 29.8% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company’s stock valued at $691,771,000 after purchasing an additional 486,489 shares during the last quarter. Legal & General Group Plc increased its position in shares of Alnylam Pharmaceuticals by 8.3% during the 4th quarter. Legal & General Group Plc now owns 961,496 shares of the biopharmaceutical company’s stock valued at $382,339,000 after purchasing an additional 73,716 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Alnylam Pharmaceuticals by 23.6% during the 4th quarter. AQR Capital Management LLC now owns 919,959 shares of the biopharmaceutical company’s stock worth $365,822,000 after purchasing an additional 175,951 shares during the period. Institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc (NASDAQ: ALNY) is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.