Piper Sandler Reaffirms “Overweight” Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “overweight” rating reiterated by equities research analysts at Piper Sandler in a research note issued to investors on Monday,Benzinga reports. They currently have a $296.00 price objective on the biopharmaceutical company’s stock. Piper Sandler’s target price indicates a potential upside of 27.90% from the stock’s current price.

Several other research firms have also recently commented on ALNY. Bank of America lifted their target price on Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Scotiabank increased their target price on Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and set a $320.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday, November 1st. Chardan Capital reissued a “buy” rating and issued a $300.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. Finally, The Goldman Sachs Group upgraded Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $198.00 to $370.00 in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, Alnylam Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $298.09.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY stock traded down $4.13 during mid-day trading on Monday, reaching $231.43. The company’s stock had a trading volume of 630,521 shares, compared to its average volume of 874,127. The company has a debt-to-equity ratio of 31.64, a quick ratio of 2.69 and a current ratio of 2.75. The company has a market cap of $29.85 billion, a P/E ratio of -88.47 and a beta of 0.39. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $304.39. The firm’s 50-day moving average is $274.95 and its two-hundred day moving average is $235.53.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.36). The company had revenue of $500.90 million during the quarter, compared to analyst estimates of $532.91 million. During the same quarter in the previous year, the business posted $1.15 EPS. Alnylam Pharmaceuticals’s revenue was down 33.3% compared to the same quarter last year. On average, research analysts predict that Alnylam Pharmaceuticals will post -2.22 earnings per share for the current year.

Insider Activity

In other news, CEO Yvonne Greenstreet sold 15,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total transaction of $4,200,000.00. Following the completion of the sale, the chief executive officer now directly owns 73,441 shares in the company, valued at approximately $20,563,480. This represents a 16.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Alnylam Pharmaceuticals by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 11,994,261 shares of the biopharmaceutical company’s stock worth $1,792,542,000 after buying an additional 50,366 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Alnylam Pharmaceuticals by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock valued at $550,837,000 after purchasing an additional 201,784 shares during the last quarter. Capital International Investors grew its holdings in Alnylam Pharmaceuticals by 1.8% during the 1st quarter. Capital International Investors now owns 3,651,217 shares of the biopharmaceutical company’s stock worth $545,674,000 after acquiring an additional 64,560 shares during the period. Capital Research Global Investors increased its holdings in Alnylam Pharmaceuticals by 7.3% in the first quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock worth $470,018,000 after purchasing an additional 214,908 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Alnylam Pharmaceuticals by 3.2% in the third quarter. Geode Capital Management LLC now owns 2,147,203 shares of the biopharmaceutical company’s stock valued at $589,209,000 after purchasing an additional 66,928 shares in the last quarter. 92.97% of the stock is currently owned by institutional investors and hedge funds.

Alnylam Pharmaceuticals Company Profile

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.