Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Alnylam Pharmaceuticals (NASDAQ:ALNYGet Free Report) had its price objective hoisted by stock analysts at Needham & Company LLC from $320.00 to $377.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Needham & Company LLC’s price target indicates a potential upside of 16.78% from the company’s previous close.

Several other analysts have also recently commented on the company. Bank of America lifted their price target on Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the company a “buy” rating in a report on Friday, March 21st. Wall Street Zen downgraded shares of Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, June 14th. BMO Capital Markets boosted their target price on shares of Alnylam Pharmaceuticals from $300.00 to $360.00 and gave the company an “outperform” rating in a report on Tuesday. William Blair restated an “outperform” rating on shares of Alnylam Pharmaceuticals in a report on Friday, March 21st. Finally, Citigroup boosted their price objective on shares of Alnylam Pharmaceuticals from $338.00 to $351.00 and gave the company a “buy” rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $337.91.

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Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ ALNY opened at $322.83 on Thursday. The company has a market cap of $42.09 billion, a PE ratio of -154.46 and a beta of 0.22. Alnylam Pharmaceuticals has a 12 month low of $205.87 and a 12 month high of $326.03. The company has a debt-to-equity ratio of 8.88, a current ratio of 3.04 and a quick ratio of 2.98. The company has a 50-day simple moving average of $286.24 and a 200-day simple moving average of $263.26.

Alnylam Pharmaceuticals (NASDAQ:ALNYGet Free Report) last released its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.07). The firm had revenue of $594.19 million during the quarter, compared to analysts’ expectations of $584.32 million. Alnylam Pharmaceuticals had a negative return on equity of 510.31% and a negative net margin of 11.49%. The firm’s revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.16) earnings per share. On average, equities analysts anticipate that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Activity

In related news, CEO Yvonne Greenstreet sold 31,640 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $304.39, for a total value of $9,630,899.60. Following the completion of the transaction, the chief executive officer now owns 48,948 shares of the company’s stock, valued at approximately $14,899,281.72. This represents a 39.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in ALNY. Brighton Jones LLC bought a new position in Alnylam Pharmaceuticals during the 4th quarter valued at $243,000. Truist Financial Corp lifted its position in shares of Alnylam Pharmaceuticals by 136.6% during the fourth quarter. Truist Financial Corp now owns 4,398 shares of the biopharmaceutical company’s stock worth $1,035,000 after purchasing an additional 2,539 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Alnylam Pharmaceuticals during the fourth quarter worth about $1,063,000. IFP Advisors Inc lifted its position in shares of Alnylam Pharmaceuticals by 24.2% during the fourth quarter. IFP Advisors Inc now owns 241 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 47 shares during the last quarter. Finally, Amalgamated Bank lifted its position in shares of Alnylam Pharmaceuticals by 2.5% during the fourth quarter. Amalgamated Bank now owns 8,484 shares of the biopharmaceutical company’s stock worth $1,996,000 after purchasing an additional 205 shares during the last quarter. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

About Alnylam Pharmaceuticals

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Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.

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Analyst Recommendations for Alnylam Pharmaceuticals (NASDAQ:ALNY)

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