Alnylam Pharmaceuticals (NASDAQ:ALNY) Shares Up 6.9% – Time to Buy?

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)’s share price was up 6.9% on Friday. The stock traded as high as $165.37 and last traded at $167.3820. Approximately 184,975 shares changed hands during trading, a decline of 88% from the average daily volume of 1,591,964 shares. The stock had previously closed at $156.65.

Wall Street Analyst Weigh In

ALNY has been the subject of a number of research reports. BMO Capital Markets reiterated an “outperform” rating and issued a $290.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, October 30th. Jefferies Financial Group raised their price objective on Alnylam Pharmaceuticals from $230.00 to $260.00 and gave the stock a “hold” rating in a report on Tuesday, September 8th. Raymond James Financial lowered Alnylam Pharmaceuticals from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $420.00 to $315.00 in a research report on Friday, October 30th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Alnylam Pharmaceuticals in a report on Wednesday, September 30th. Finally, Truist Financial downgraded Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating and dropped their price target for the stock from $315.00 to $225.00 in a research report on Monday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $305.86.

Alnylam Pharmaceuticals Stock Up 5.5%

The company has a current ratio of 2.48, a quick ratio of 2.43 and a debt-to-equity ratio of 0.18. The firm has a market cap of $22.14 billion, a PE ratio of 8.53 and a beta of 0.42. The business’s 50-day simple moving average is $221.24 and its 200 day simple moving average is $276.94.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported $16.26 earnings per share for the quarter, topping the consensus estimate of $1.66 by $14.60. Alnylam Pharmaceuticals had a net margin of 52.85% and a return on equity of 155.33%. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the company earned $2.90 EPS. The company’s revenue was up 16.7% compared to the same quarter last year. As a group, equities research analysts expect that Alnylam Pharmaceuticals, Inc. will post 6.85 earnings per share for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In related news, EVP Bryan Supran sold 1,758 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $226.88, for a total value of $398,855.04. Following the completion of the transaction, the executive vice president owned 12,807 shares of the company’s stock, valued at $2,905,652.16. The trade was a 12.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.86% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ALNY. Toth Financial Advisory Corp purchased a new stake in shares of Alnylam Pharmaceuticals during the 3rd quarter worth $25,000. Keating Financial Advisory Services Inc. bought a new position in Alnylam Pharmaceuticals in the second quarter worth about $42,000. Burkett Financial Services LLC bought a new position in Alnylam Pharmaceuticals in the third quarter worth about $37,000. CoreCap Advisors LLC raised its holdings in Alnylam Pharmaceuticals by 744.4% in the third quarter. CoreCap Advisors LLC now owns 152 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 134 shares in the last quarter. Finally, Root Financial Partners LLC bought a new position in Alnylam Pharmaceuticals in the third quarter worth about $48,000. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals is a biopharmaceutical company focused on discovering, developing and commercializing medicines based on RNA interference (RNAi), a biological process that can reduce the production of specific disease-causing proteins. Founded in 2002 and headquartered in Cambridge, Massachusetts, the company helped advance RNAi from a scientific discovery into a therapeutic approach. Its marketed medicines include ONPATTRO (patisiran) and AMVUTTRA (vutrisiran) for hereditary transthyretin-mediated amyloidosis, GIVLAARI (givosiran) for acute hepatic porphyria, and OXLUMO (lumasiran) for primary hyperoxaluria type 1.