Alnylam Pharmaceuticals (NASDAQ:ALNY) Upgraded by BMO Capital Markets to Strong-Buy Rating

BMO Capital Markets upgraded shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

ALNY has been the topic of a number of other reports. Weiss Ratings upgraded Alnylam Pharmaceuticals from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Barclays lowered their target price on Alnylam Pharmaceuticals from $527.00 to $450.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Oppenheimer decreased their price target on shares of Alnylam Pharmaceuticals from $500.00 to $350.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Truist Financial lowered their price objective on shares of Alnylam Pharmaceuticals from $410.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Finally, Royal Bank Of Canada reduced their target price on shares of Alnylam Pharmaceuticals from $445.00 to $350.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Alnylam Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $386.62.

Alnylam Pharmaceuticals Trading Up 6.1%

ALNY stock opened at $242.61 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.05 and a quick ratio of 2.99. Alnylam Pharmaceuticals has a 1-year low of $197.81 and a 1-year high of $495.55. The business has a 50 day simple moving average of $269.15 and a two-hundred day simple moving average of $298.51. The company has a market capitalization of $32.46 billion, a price-to-earnings ratio of 45.09 and a beta of 0.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.21. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. Alnylam Pharmaceuticals’s revenue for the quarter was up 66.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.51) earnings per share. Research analysts anticipate that Alnylam Pharmaceuticals will post 6.59 EPS for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, Director David E. I. Pyott sold 3,830 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the completion of the sale, the director directly owned 1,582 shares of the company’s stock, valued at approximately $473,302.76. The trade was a 70.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the stock. Quantitative Investment Management LLC increased its position in shares of Alnylam Pharmaceuticals by 106.9% during the second quarter. Quantitative Investment Management LLC now owns 7,981 shares of the biopharmaceutical company’s stock worth $2,402,000 after acquiring an additional 4,124 shares during the period. Two Sigma Securities LLC bought a new position in Alnylam Pharmaceuticals in the second quarter worth about $1,681,000. Benjamin Edwards Inc. increased its holdings in shares of Alnylam Pharmaceuticals by 7.6% during the second quarter. Benjamin Edwards Inc. now owns 1,168 shares of the biopharmaceutical company’s stock valued at $352,000 after acquiring an additional 83 shares in the last quarter. GTS Securities LLC boosted its stake in Alnylam Pharmaceuticals by 38.0% in the 2nd quarter. GTS Securities LLC now owns 1,452 shares of the biopharmaceutical company’s stock worth $437,000 after purchasing an additional 400 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Alnylam Pharmaceuticals by 25.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,151 shares of the biopharmaceutical company’s stock worth $346,000 after purchasing an additional 235 shares during the last quarter. 92.97% of the stock is owned by hedge funds and other institutional investors.

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.