Alnylam Pharmaceuticals (NASDAQ:ALNY) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday.

Other equities analysts have also recently issued reports about the stock. Piper Sandler reaffirmed an “overweight” rating and set a $489.00 price target (up from $449.00) on shares of Alnylam Pharmaceuticals in a research note on Friday, October 31st. Wells Fargo & Company decreased their price objective on shares of Alnylam Pharmaceuticals from $479.00 to $376.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. Needham & Company LLC lowered their target price on shares of Alnylam Pharmaceuticals from $529.00 to $510.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Oppenheimer initiated coverage on shares of Alnylam Pharmaceuticals in a research report on Wednesday, January 7th. They set an “outperform” rating and a $500.00 price target for the company. Finally, Bank of America reissued a “buy” rating on shares of Alnylam Pharmaceuticals in a research note on Thursday. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $477.38.

Alnylam Pharmaceuticals Stock Up 1.9%

ALNY opened at $314.40 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.76 and a quick ratio of 2.71. The business has a 50 day simple moving average of $372.67 and a 200-day simple moving average of $424.73. The stock has a market capitalization of $41.70 billion, a P/E ratio of 183.86 and a beta of 0.35. Alnylam Pharmaceuticals has a 12 month low of $205.87 and a 12 month high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings data on Thursday, February 12th. The biopharmaceutical company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.61). The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.16 billion. Alnylam Pharmaceuticals had a return on equity of 69.02% and a net margin of 6.43%.The company’s revenue was up 84.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.65) EPS. On average, equities analysts anticipate that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, EVP Pushkal Garg sold 1,510 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $362.87, for a total value of $547,933.70. Following the completion of the sale, the executive vice president directly owned 22,511 shares of the company’s stock, valued at approximately $8,168,566.57. The trade was a 6.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kevin Joseph Fitzgerald sold 2,290 shares of the business’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $370.33, for a total value of $848,055.70. Following the completion of the transaction, the executive vice president owned 21,264 shares of the company’s stock, valued at $7,874,697.12. This trade represents a 9.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 19,177 shares of company stock worth $6,975,746 over the last three months. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Silvant Capital Management LLC lifted its position in Alnylam Pharmaceuticals by 1.6% during the fourth quarter. Silvant Capital Management LLC now owns 17,964 shares of the biopharmaceutical company’s stock worth $7,143,000 after buying an additional 288 shares during the period. Mariner LLC grew its holdings in Alnylam Pharmaceuticals by 61.2% in the 4th quarter. Mariner LLC now owns 42,443 shares of the biopharmaceutical company’s stock valued at $16,876,000 after buying an additional 16,111 shares during the period. Focus Partners Wealth increased its stake in shares of Alnylam Pharmaceuticals by 7.0% during the 4th quarter. Focus Partners Wealth now owns 7,083 shares of the biopharmaceutical company’s stock valued at $2,817,000 after acquiring an additional 466 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Alnylam Pharmaceuticals during the 4th quarter worth about $16,089,000. Finally, Avidity Partners Management LP purchased a new position in shares of Alnylam Pharmaceuticals during the 4th quarter worth about $8,351,000. Hedge funds and other institutional investors own 92.97% of the company’s stock.

About Alnylam Pharmaceuticals

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.