Needham & Company LLC Reaffirms Buy Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research report issued on Thursday, Benzinga reports. They presently have a $200.00 price objective on the biopharmaceutical company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 32.28% from the company’s previous close.

ALNY has been the subject of several other research reports. Cantor Fitzgerald reissued a “neutral” rating and set a $165.00 price target on shares of Alnylam Pharmaceuticals in a report on Tuesday, February 20th. StockNews.com raised Alnylam Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday. JPMorgan Chase & Co. boosted their price target on Alnylam Pharmaceuticals from $150.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. HC Wainwright reissued a “buy” rating and set a $395.00 price target on shares of Alnylam Pharmaceuticals in a report on Tuesday, March 5th. Finally, Wolfe Research assumed coverage on Alnylam Pharmaceuticals in a report on Thursday, February 15th. They set a “peer perform” rating for the company. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $215.88.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY traded up $1.24 during trading hours on Thursday, hitting $151.20. The stock had a trading volume of 392,656 shares, compared to its average volume of 763,813. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $218.88. The firm has a market capitalization of $19.04 billion, a PE ratio of -42.69 and a beta of 0.41. The stock has a fifty day moving average price of $150.01 and a 200 day moving average price of $165.35.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported ($1.10) EPS for the quarter, topping the consensus estimate of ($1.20) by $0.10. The firm had revenue of $439.72 million during the quarter, compared to the consensus estimate of $439.38 million. During the same period in the previous year, the firm earned ($1.68) EPS. The business’s revenue was up 31.2% on a year-over-year basis. As a group, analysts anticipate that Alnylam Pharmaceuticals will post -4.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Alnylam Pharmaceuticals by 572.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 143 shares during the period. Quent Capital LLC raised its holdings in shares of Alnylam Pharmaceuticals by 246.0% in the fourth quarter. Quent Capital LLC now owns 173 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 123 shares during the period. Anchor Investment Management LLC purchased a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter worth approximately $38,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Alnylam Pharmaceuticals by 155.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 20,549 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 12,513 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter worth approximately $52,000. 92.97% of the stock is currently owned by hedge funds and other 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.