Chardan Capital Reaffirms Buy Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reissued by research analysts at Chardan Capital in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $425.00 price objective on the biopharmaceutical company’s stock. Chardan Capital’s target price suggests a potential upside of 29.51% from the company’s current price.

A number of other equities research analysts have also commented on the company. Oppenheimer initiated coverage on Alnylam Pharmaceuticals in a research report on Wednesday, January 7th. They set an “outperform” rating and a $500.00 price target on the stock. Stifel Nicolaus boosted their price objective on Alnylam Pharmaceuticals from $495.00 to $508.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Morgan Stanley dropped their target price on shares of Alnylam Pharmaceuticals from $495.00 to $408.00 and set an “equal weight” rating on the stock in a report on Friday, January 30th. Raymond James Financial reaffirmed an “outperform” rating and issued a $472.00 price target on shares of Alnylam Pharmaceuticals in a research note on Monday, January 12th. Finally, Wells Fargo & Company reduced their price target on shares of Alnylam Pharmaceuticals from $479.00 to $376.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $468.84.

Alnylam Pharmaceuticals Price Performance

ALNY opened at $328.16 on Wednesday. The stock has a market cap of $43.52 billion, a P/E ratio of 191.91 and a beta of 0.36. Alnylam Pharmaceuticals has a 12 month low of $205.87 and a 12 month high of $495.55. The company has a quick ratio of 2.71, a current ratio of 2.76 and a debt-to-equity ratio of 1.28. The company has a fifty day simple moving average of $331.51 and a 200 day simple moving average of $401.69.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, February 12th. The biopharmaceutical company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.18). Alnylam Pharmaceuticals had a return on equity of 69.02% and a net margin of 6.43%.The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm posted ($0.65) earnings per share. The business’s revenue was up 84.9% on a year-over-year basis. On average, research analysts expect that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Yvonne Greenstreet sold 6,799 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $327.65, for a total transaction of $2,227,692.35. Following the completion of the transaction, the chief executive officer directly owned 98,628 shares of the company’s stock, valued at $32,315,464.20. This trade represents a 6.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey V. Poulton sold 2,206 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $327.65, for a total transaction of $722,795.90. Following the completion of the sale, the executive vice president owned 64,273 shares in the company, valued at $21,059,048.45. This trade represents a 3.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 53,923 shares of company stock worth $18,072,087 in the last 90 days. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Thematics Asset Management bought a new stake in Alnylam Pharmaceuticals during the 2nd quarter worth about $1,995,000. Mediolanum International Funds Ltd acquired a new stake in shares of Alnylam Pharmaceuticals in the third quarter valued at about $11,389,000. Rakuten Investment Management Inc. acquired a new stake in shares of Alnylam Pharmaceuticals in the third quarter valued at about $14,205,000. Generali Asset Management SPA SGR raised its holdings in Alnylam Pharmaceuticals by 6,368.0% during the third quarter. Generali Asset Management SPA SGR now owns 3,234 shares of the biopharmaceutical company’s stock worth $1,475,000 after acquiring an additional 3,184 shares in the last quarter. Finally, Investment Management Corp of Ontario raised its holdings in Alnylam Pharmaceuticals by 35.4% during the second quarter. Investment Management Corp of Ontario now owns 31,521 shares of the biopharmaceutical company’s stock worth $10,279,000 after acquiring an additional 8,244 shares in the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

About Alnylam Pharmaceuticals

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.