Alnylam Pharmaceuticals (NASDAQ:ALNY) Earns Buy Rating from Analysts at Citigroup

Citigroup initiated coverage on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research report issued to clients and investors on Tuesday. The brokerage set a “buy” rating and a $380.00 price target on the biopharmaceutical company’s stock. Citigroup’s price objective would indicate a potential upside of 32.74% from the company’s current price.

A number of other research firms have also recently commented on ALNY. Weiss Ratings raised Alnylam Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Jefferies Financial Group reiterated a “hold” rating and set a $330.00 price objective (down from $522.00) on shares of Alnylam Pharmaceuticals in a research report on Monday, March 16th. Wells Fargo & Company lifted their target price on Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Bank of America reissued a “buy” rating on shares of Alnylam Pharmaceuticals in a research report on Thursday, February 12th. Finally, Needham & Company LLC dropped their price objective on Alnylam Pharmaceuticals from $529.00 to $510.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $463.13.

Alnylam Pharmaceuticals Stock Down 0.2%

Shares of ALNY stock opened at $286.27 on Tuesday. The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94. The stock has a market cap of $38.22 billion, a P/E ratio of 78.22 and a beta of 0.31. Alnylam Pharmaceuticals has a 12 month low of $284.19 and a 12 month high of $495.55. The company has a 50 day simple moving average of $313.09 and a two-hundred day simple moving average of $363.40.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, beating 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 company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business earned ($0.44) earnings per share. Alnylam Pharmaceuticals’s quarterly revenue was up 96.4% compared to the same quarter last year. On average, research analysts expect that Alnylam Pharmaceuticals will post 7.36 earnings per share for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In related news, insider Melissa Mclaughlin sold 2,286 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $330.42, for a total value of $755,340.12. Following the completion of the sale, the insider directly owned 9,443 shares in the company, valued at $3,120,156.06. This trade represents a 19.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Pushkal Garg sold 1,775 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $319.74, for a total transaction of $567,538.50. Following the completion of the transaction, the executive vice president directly owned 23,406 shares of the company’s stock, valued at approximately $7,483,834.44. This represents a 7.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,255 shares of company stock worth $6,930,337 over the last ninety days. 0.86% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Large investors have recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter worth $243,000. Geneos Wealth Management Inc. grew its holdings in shares of Alnylam Pharmaceuticals by 372.3% during the first quarter. Geneos Wealth Management Inc. now owns 222 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 175 shares in the last quarter. Flow Traders U.S. LLC acquired a new stake in Alnylam Pharmaceuticals in the 2nd quarter valued at about $241,000. Daiwa Securities Group Inc. boosted its stake in Alnylam Pharmaceuticals by 0.3% during the second quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company’s stock worth $4,220,000 after buying an additional 35 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Alnylam Pharmaceuticals by 70,300.0% during the 2nd quarter. NewEdge Advisors LLC now owns 704 shares of the biopharmaceutical company’s stock valued at $229,000 after acquiring an additional 703 shares during the last quarter. Hedge funds and other 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.