Alnylam Pharmaceuticals’s Neutral Rating Reaffirmed at Zacks (ALNY)
Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Wednesday, AR Network reports. They currently have a $60.00 target price on the stock. Zacks‘ price objective points to a potential upside of 5.26% from the stock’s previous close.
Zacks‘ analyst wrote, “Alnylam’s second quarter 2013 net loss of $0.29 per share was narrower than the Zacks Consensus Estimate loss of a $0.34 but wider than the year-ago loss of $0.25 per share. The wider year-over-year loss was primarily due to lower net revenues. We are impressed by Alnylam’s progress with its pipeline, especially its ATTR program. We are also encouraged by the company’s collaborations with big pharmaceutical players to further develop and utilize its core technology. However, the early-stage nature of the company’s pipeline remains a concern. Any negative news related to the pipeline will weigh heavily on the stock. We see limited upside potential from current levels and hence maintain our Neutral stance on Alnylam. “
Alnylam Pharmaceuticals (NASDAQ:ALNY) traded down 6.05% during mid-day trading on Wednesday, hitting $53.551. 1,370,471 shares of the company’s stock traded hands. Alnylam Pharmaceuticals has a 52-week low of $14.88 and a 52-week high of $66.17. The stock has a 50-day moving average of $57.23 and a 200-day moving average of $38.89. The company’s market cap is $3.372 billion.
Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, August 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.06. The company had revenue of $8.70 million for the quarter, compared to the consensus estimate of $8.99 million. During the same quarter in the previous year, the company posted ($0.25) earnings per share. The company’s revenue for the quarter was down 58.4% on a year-over-year basis. On average, analysts predict that Alnylam Pharmaceuticals will post $-1.25 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank raised their price target on shares of Alnylam Pharmaceuticals from $60.00 to $80.00 in a research note to investors on Tuesday, September 24th. They now have a “buy” rating on the stock. Separately, analysts at Needham & Company upgraded shares of Alnylam Pharmaceuticals to a “positive” rating in a research note to investors on Monday, September 23rd. They now have a $65.00 price target on the stock, up previously from $55.00. Finally, analysts at Leerink Swann raised their price target on shares of Alnylam Pharmaceuticals from $57.00 to $80.00 in a research note to investors on Monday, September 23rd. They now have an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $62.88.
Alnylam Pharmaceuticals, Inc (NASDAQ:ALNY) is a biopharmaceutical company developing therapeutics based on ribonucleic acid interface (RNAi).
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