Alnylam Pharmaceuticals’ (ALNY) “Buy” Rating Reaffirmed at HC Wainwright

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued on Wednesday, Benzinga reports. They presently have a $455.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 84.88% from the company’s current price.

Other research analysts have also issued research reports about the stock. Barclays cut their price objective on shares of Alnylam Pharmaceuticals from $527.00 to $450.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. JPMorgan Chase & Co. lowered their price target on Alnylam Pharmaceuticals from $400.00 to $375.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Morgan Stanley cut their price target on Alnylam Pharmaceuticals from $400.00 to $300.00 and set an “equal weight” rating for the company in a report on Friday, July 31st. Weiss Ratings upgraded Alnylam Pharmaceuticals from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Finally, Royal Bank Of Canada decreased their price objective on Alnylam Pharmaceuticals from $445.00 to $350.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $386.14.

Alnylam Pharmaceuticals Trading Up 2.3%

Shares of Alnylam Pharmaceuticals stock opened at $246.11 on Wednesday. Alnylam Pharmaceuticals has a 1 year low of $197.81 and a 1 year high of $495.55. The company’s fifty day simple moving average is $260.86 and its 200-day simple moving average is $292.43. The company has a market cap of $32.93 billion, a price-to-earnings ratio of 45.75 and a beta of 0.30. The company has a current ratio of 3.05, a quick ratio of 2.99 and a debt-to-equity ratio of 0.75.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.63 by $0.21. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company earned ($0.51) EPS. The business’s quarterly revenue was up 66.9% compared to the same quarter last year. As a group, sell-side analysts expect that Alnylam Pharmaceuticals will post 6.59 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALNY. iA Global Asset Management Inc. increased its position in shares of Alnylam Pharmaceuticals by 979.5% during the 4th quarter. iA Global Asset Management Inc. now owns 17,780 shares of the biopharmaceutical company’s stock worth $7,070,000 after purchasing an additional 16,133 shares in the last quarter. SCS Capital Management LLC bought a new position in Alnylam Pharmaceuticals during the 2nd quarter valued at about $34,784,000. Hsbc Holdings PLC increased its holdings in shares of Alnylam Pharmaceuticals by 22.6% during the fourth quarter. Hsbc Holdings PLC now owns 89,517 shares of the biopharmaceutical company’s stock worth $35,675,000 after buying an additional 16,503 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Alnylam Pharmaceuticals during the second quarter worth approximately $50,773,000. Finally, Keystone Investors PTE Ltd. bought a new position in shares of Alnylam Pharmaceuticals in the fourth quarter valued at approximately $3,531,000. Institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc (NASDAQ: ALNY) is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.