Alnylam Pharmaceuticals (NASDAQ:ALNY) Given Buy Rating at Needham & Company LLC

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a report released on Friday,Benzinga reports. They currently have a $320.00 target price on the biopharmaceutical company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 20.80% from the company’s current price.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Alnylam Pharmaceuticals in a research report on Tuesday. William Blair restated an “outperform” rating on shares of Alnylam Pharmaceuticals in a report on Tuesday, November 19th. Raymond James increased their target price on shares of Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Piper Sandler reissued an “overweight” rating and issued a $296.00 price target on shares of Alnylam Pharmaceuticals in a research report on Monday, November 18th. Finally, Sanford C. Bernstein cut their price objective on Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $298.61.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY stock opened at $264.89 on Friday. 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 firm has a market cap of $34.17 billion, a P/E ratio of -101.10 and a beta of 0.35. The firm’s 50 day moving average price is $254.03 and its 200-day moving average price is $263.00. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). As a group, equities research analysts predict that Alnylam Pharmaceuticals will post -2.24 EPS for the current year.

Insider Buying and Selling

In related news, CMO Pushkal Garg sold 1,682 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 transaction of $422,148.36. Following the transaction, the chief marketing officer now owns 17,457 shares in the company, valued at $4,381,357.86. This trade represents a 8.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Phillip A. Sharp sold 11,250 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $275.00, for a total value of $3,093,750.00. The disclosure for this sale can be found here. Insiders have sold 73,964 shares of company stock worth $20,622,925 in the last ninety days. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of Alnylam Pharmaceuticals

Large investors have recently bought and sold shares of the business. Regeneron Pharmaceuticals Inc. purchased a new position in shares of Alnylam Pharmaceuticals during the fourth quarter worth about $1,045,822,000. Norges Bank acquired a new stake in Alnylam Pharmaceuticals during the 4th quarter worth approximately $577,941,000. Capital Research Global Investors grew its stake in shares of Alnylam Pharmaceuticals by 32.9% in the 4th quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company’s stock valued at $1,639,767,000 after purchasing an additional 1,724,610 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Alnylam Pharmaceuticals by 496.6% in the fourth quarter. Marshall Wace LLP now owns 378,649 shares of the biopharmaceutical company’s stock valued at $89,100,000 after purchasing an additional 315,182 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Alnylam Pharmaceuticals in the fourth quarter valued at approximately $65,295,000. Institutional investors and hedge funds own 92.97% of the company’s stock.

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.