Needham & Company LLC Increases Alnylam Pharmaceuticals, Inc. (ALNY) Price Target to $125.00
Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) had its price objective hoisted by Needham & Company LLC from $85.00 to $125.00 in a note issued to investors on Wednesday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Needham & Company LLC’s price target suggests a potential upside of 9.86% from the company’s previous close.
Other equities research analysts also recently issued research reports about the stock. Morgan Stanley reissued an “equal weight” rating on shares of Alnylam Pharmaceuticals in a research note on Monday, July 10th. BidaskClub downgraded shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 16th. J P Morgan Chase & Co reissued a “hold” rating on shares of Alnylam Pharmaceuticals in a research note on Monday, June 26th. Chardan Capital reissued a “buy” rating and issued a $131.00 target price (up previously from $110.00) on shares of Alnylam Pharmaceuticals in a research note on Monday, July 10th. Finally, Ladenburg Thalmann Financial Services set a $90.00 target price on shares of Alnylam Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, July 17th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company’s stock. Alnylam Pharmaceuticals has an average rating of “Hold” and an average price target of $91.59.
Shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) opened at 112.92 on Wednesday. Alnylam Pharmaceuticals has a one year low of $31.38 and a one year high of $117.44. The company’s market cap is $10.36 billion. The firm has a 50-day moving average of $81.14 and a 200-day moving average of $69.12. Alnylam Pharmaceuticals also was the target of some unusual options trading activity on Wednesday. Investors acquired 30,530 call options on the stock. This is an increase of approximately 937% compared to the average volume of 2,944 call options.
Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($1.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.22) by ($0.12). Alnylam Pharmaceuticals had a negative net margin of 670.81% and a negative return on equity of 45.53%. The firm had revenue of $15.93 million during the quarter, compared to analysts’ expectations of $23.86 million. During the same period in the prior year, the company posted ($1.05) EPS. The company’s revenue was up 82.9% compared to the same quarter last year. Equities research analysts forecast that Alnylam Pharmaceuticals will post ($5.20) EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. QS Investors LLC lifted its position in shares of Alnylam Pharmaceuticals by 59.7% during the second quarter. QS Investors LLC now owns 2,408 shares of the biopharmaceutical company’s stock valued at $192,000 after buying an additional 900 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Alnylam Pharmaceuticals by 7.0% during the second quarter. The Manufacturers Life Insurance Company now owns 2,541 shares of the biopharmaceutical company’s stock valued at $203,000 after buying an additional 167 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in shares of Alnylam Pharmaceuticals during the second quarter valued at about $221,000. Neuberger Berman Group LLC purchased a new stake in shares of Alnylam Pharmaceuticals during the second quarter valued at about $229,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Alnylam Pharmaceuticals during the first quarter valued at about $148,000. 94.25% of the stock is owned by institutional investors and hedge funds.
About Alnylam Pharmaceuticals
Alnylam Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of ribonucleic acid (RNA) interference (RNAi) therapeutics. The Company is focused on the use of its N-acetylgalactosamine (GalNAc)-conjugate platform for delivery of small interfering RNAs (siRNAs).
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