StockNews.com Upgrades Alnylam Pharmaceuticals (NASDAQ:ALNY) to Buy

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 Friday.

A number of other brokerages have also recently commented on ALNY. Royal Bank of Canada restated an “outperform” rating and set a $235.00 price target on shares of Alnylam Pharmaceuticals in a research note on Tuesday, February 20th. Wolfe Research assumed coverage on shares of Alnylam Pharmaceuticals in a research note on Thursday, February 15th. They set a “peer perform” rating for the company. Piper Sandler raised their price objective on shares of Alnylam Pharmaceuticals from $210.00 to $217.00 and gave the stock an “overweight” rating in a report on Thursday, December 14th. JPMorgan Chase & Co. raised their price objective on shares of Alnylam Pharmaceuticals from $150.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Finally, William Blair reaffirmed an “outperform” rating on shares of Alnylam Pharmaceuticals in a report on Monday, January 8th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $216.12.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ ALNY traded down $0.11 during mid-day trading on Friday, hitting $146.51. The company had a trading volume of 834,175 shares, compared to its average volume of 887,687. The firm has a market cap of $18.45 billion, a P/E ratio of -41.15 and a beta of 0.39. Alnylam Pharmaceuticals has a 12 month low of $143.52 and a 12 month high of $218.88. The business’s 50-day simple moving average is $163.22 and its 200-day simple moving average is $171.84.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.10) EPS for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.10. The business had revenue of $439.72 million for the quarter, compared to the consensus estimate of $439.38 million. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.68) EPS. As a group, sell-side analysts predict that Alnylam Pharmaceuticals will post -4.61 EPS for the current year.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, Director Michael W. Bonney sold 30,000 shares of Alnylam Pharmaceuticals stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $195.00, for a total transaction of $5,850,000.00. Following the completion of the sale, the director now owns 16,029 shares of the company’s stock, valued at approximately $3,125,655. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in ALNY. Norges Bank bought a new position in shares of Alnylam Pharmaceuticals during the fourth quarter worth $390,438,000. Capital International Investors boosted its position in shares of Alnylam Pharmaceuticals by 15.8% during the fourth quarter. Capital International Investors now owns 3,586,657 shares of the biopharmaceutical company’s stock worth $686,641,000 after purchasing an additional 488,814 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Alnylam Pharmaceuticals by 6.0% during the third quarter. Wellington Management Group LLP now owns 6,431,814 shares of the biopharmaceutical company’s stock worth $1,139,074,000 after purchasing an additional 364,021 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Alnylam Pharmaceuticals by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock worth $2,286,181,000 after purchasing an additional 287,064 shares in the last quarter. Finally, Eaton Vance Management boosted its position in shares of Alnylam Pharmaceuticals by 606.7% during the first quarter. Eaton Vance Management now owns 306,228 shares of the biopharmaceutical company’s stock worth $50,005,000 after purchasing an additional 262,893 shares in the last quarter. 93.98% of the stock is owned by institutional investors.

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.