Wall Street Zen Upgrades Alnylam Pharmaceuticals (NASDAQ:ALNY) to “Strong-Buy”

Alnylam Pharmaceuticals (NASDAQ:ALNY) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Other analysts have also recently issued research reports about the company. Morgan Stanley raised their price target on Alnylam Pharmaceuticals from $370.00 to $400.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. Wells Fargo & Company boosted their price target on shares of Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Truist Financial decreased their price target on shares of Alnylam Pharmaceuticals from $505.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, July 13th. Bank of America lowered their price objective on shares of Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. Finally, Citigroup started coverage on shares of Alnylam Pharmaceuticals in a report on Tuesday, May 19th. They set a “buy” rating and a $380.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $452.13.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ:ALNY opened at $271.77 on Friday. The firm has a market capitalization of $36.28 billion, a PE ratio of 74.25 and a beta of 0.27. The company has a quick ratio of 3.06, a current ratio of 3.13 and a debt-to-equity ratio of 0.94. The company has a 50-day moving average price of $292.22 and a two-hundred day moving average price of $316.64. Alnylam Pharmaceuticals has a twelve month low of $262.21 and a twelve month high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $1.12. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the company posted ($0.44) EPS. The firm’s revenue for the quarter was up 96.4% compared to the same quarter last year. Equities analysts forecast that Alnylam Pharmaceuticals will post 7.35 EPS for the current year.

Insider Activity at Alnylam Pharmaceuticals

In related news, Director David E. I. Pyott sold 3,830 shares of Alnylam Pharmaceuticals stock in a transaction on Monday, June 1st. The shares were sold at an average price of $299.18, for a total value of $1,145,859.40. Following the transaction, the director owned 1,582 shares in the company, valued at $473,302.76. This trade represents a 70.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Alnylam Pharmaceuticals in the fourth quarter worth about $895,816,000. Qube Research & Technologies Ltd purchased a new stake in Alnylam Pharmaceuticals during the 3rd quarter valued at about $369,943,000. AQR Capital Management LLC grew its position in Alnylam Pharmaceuticals by 295.2% during the 3rd quarter. AQR Capital Management LLC now owns 744,008 shares of the biopharmaceutical company’s stock worth $336,009,000 after acquiring an additional 555,759 shares during the last quarter. Orbis Allan Gray Ltd grew its position in Alnylam Pharmaceuticals by 29.8% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company’s stock worth $691,771,000 after acquiring an additional 486,489 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Alnylam Pharmaceuticals by 2,221.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 410,342 shares of the biopharmaceutical company’s stock worth $187,116,000 after purchasing an additional 392,668 shares during the period. 92.97% of the stock is owned by institutional investors.

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.