Alnylam Pharmaceuticals (NASDAQ:ALNY) Upgraded by StockNews.com to “Buy” Rating

Alnylam Pharmaceuticals (NASDAQ:ALNY) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Several other brokerages have also recently commented on ALNY. Wolfe Research cut shares of Alnylam Pharmaceuticals from a “peer perform” rating to an “underperform” rating in a report on Tuesday, November 12th. Barclays raised their price objective on Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. TD Cowen upped their target price on Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Piper Sandler reissued an “overweight” rating and set a $296.00 target price on shares of Alnylam Pharmaceuticals in a report on Monday, November 18th. Finally, Canaccord Genuity Group boosted their price target on Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $298.09.

Alnylam Pharmaceuticals Stock Performance

ALNY stock traded down $8.66 during midday trading on Wednesday, reaching $237.92. 543,101 shares of the company were exchanged, compared to its average volume of 857,668. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $304.39. The firm has a market capitalization of $30.69 billion, a price-to-earnings ratio of -90.81 and a beta of 0.32. The business has a 50-day moving average price of $266.06 and a two-hundred day moving average price of $250.92. The company has a debt-to-equity ratio of 31.64, a current ratio of 2.75 and a quick ratio of 2.69.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.36). The firm had revenue of $500.90 million during the quarter, compared to the consensus estimate of $532.91 million. During the same quarter in the prior year, the business posted $1.15 EPS. The company’s revenue for the quarter was down 33.3% compared to the same quarter last year. Equities research analysts forecast that Alnylam Pharmaceuticals will post -2.21 EPS for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, EVP Tolga Tanguler sold 1,469 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total value of $368,689.62. Following the completion of the sale, the executive vice president now owns 13,191 shares of the company’s stock, valued at approximately $3,310,677.18. This trade represents a 10.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Yvonne Greenstreet sold 5,219 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total value of $1,309,864.62. Following the sale, the chief executive officer now owns 78,880 shares of the company’s stock, valued at approximately $19,797,302.40. This represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,122 shares of company stock valued at $2,540,455 in the last quarter. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. Souders Financial Advisors grew its stake in shares of Alnylam Pharmaceuticals by 1.0% in the 2nd quarter. Souders Financial Advisors now owns 3,512 shares of the biopharmaceutical company’s stock worth $853,000 after acquiring an additional 36 shares in the last quarter. Huntington National Bank boosted its holdings in Alnylam Pharmaceuticals by 91.8% during the third quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 45 shares during the last quarter. SYM FINANCIAL Corp grew its position in Alnylam Pharmaceuticals by 6.2% in the 3rd quarter. SYM FINANCIAL Corp now owns 947 shares of the biopharmaceutical company’s stock worth $260,000 after purchasing an additional 55 shares in the last quarter. Lindbrook Capital LLC grew its position in Alnylam Pharmaceuticals by 11.1% in the 3rd quarter. Lindbrook Capital LLC now owns 570 shares of the biopharmaceutical company’s stock worth $157,000 after purchasing an additional 57 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Alnylam Pharmaceuticals by 54.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 259 shares of the biopharmaceutical company’s stock valued at $63,000 after buying an additional 91 shares during the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

About Alnylam Pharmaceuticals

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.