Alnylam Pharmaceuticals, Inc. (ALNY) Receives Buy Rating from Needham & Company LLC
Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a report issued on Thursday. They currently have a $85.00 price objective on the biopharmaceutical company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 17.19% from the stock’s current price.
The analysts wrote, “Alnylam announced today that dosing of fitusiran, in development for Hemophilia, has been suspended in all clinical trials. A patient death tied to a thrombotic event was reported in ongoing Phase 2 OLE trial and FDA has issued a clinical hold. Alnylam had just initiated a Phase 3 program in Jul 2017. The incident raises questions around safety margin for the drug. Fitusiran is intended to increase thrombin levels closer to normal range. Concerns, however, have been raised around risk of thrombosis if thrombin levels are too high, particularly when used w/ on-demand factor or bypassing agents. Based on available clinical data, we believe fitusiran allows for better control of Hemophilia, but patients and physicians may have a narrower safety window when managing bleeds. Our bias is Alnylam and FDA will reach agreement on a protocol to more closely monitor patients and that clinical development will resume over next 3-6 months. We continue to believe in long-term value of RNAi, but acknowledge greater risk than we anticipated around fitusiran. We have reduced our fitusiran estimates to reflect delayed launch and slower market penetration.””
Several other equities research analysts have also recently weighed in on ALNY. Chardan Capital reduced their target price on shares of Alnylam Pharmaceuticals from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, May 15th. Piper Jaffray Companies set a $118.00 target price on shares of Alnylam Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, May 15th. Vetr cut shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $71.50 target price for the company. in a research note on Monday, May 15th. Cowen and Company reiterated an “outperform” rating and issued a $100.00 target price on shares of Alnylam Pharmaceuticals in a research note on Wednesday, May 17th. Finally, Leerink Swann reiterated a “market perform” rating and issued a $67.00 target price (up previously from $53.00) on shares of Alnylam Pharmaceuticals in a research note on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $84.31.
Shares of Alnylam Pharmaceuticals (ALNY) traded down 15.68% during mid-day trading on Thursday, reaching $72.53. The company’s stock had a trading volume of 6,024,512 shares. The company has a 50 day moving average price of $82.34 and a 200 day moving average price of $67.32. Alnylam Pharmaceuticals has a 12 month low of $31.38 and a 12 month high of $89.45. The stock’s market capitalization is $6.65 billion.
Alnylam Pharmaceuticals (NASDAQ:ALNY) last released 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 company had revenue of $15.93 million during the quarter, compared to the consensus estimate of $23.86 million. During the same quarter in the previous year, the business posted ($1.05) EPS. The firm’s quarterly revenue was up 82.9% on a year-over-year basis. On average, equities research analysts anticipate that Alnylam Pharmaceuticals will post ($5.18) earnings per share for the current fiscal year.
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Large investors have recently bought and sold shares of the company. First Manhattan Co. bought a new position in shares of Alnylam Pharmaceuticals in the first quarter valued at approximately $135,000. QS Investors LLC raised its stake in shares of Alnylam Pharmaceuticals by 59.7% in the second quarter. QS Investors LLC now owns 2,408 shares of the biopharmaceutical company’s stock valued at $192,000 after acquiring an additional 900 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Alnylam Pharmaceuticals by 7.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,541 shares of the biopharmaceutical company’s stock valued at $203,000 after acquiring an additional 167 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of Alnylam Pharmaceuticals in the second quarter valued at approximately $221,000. Finally, Neuberger Berman Group LLC bought a new position in shares of Alnylam Pharmaceuticals in the second quarter valued at approximately $229,000. Institutional investors own 94.27% of the company’s stock.
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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