Alnylam Pharmaceuticals (NASDAQ:ALNY) Rating Increased to Strong-Buy at Citigroup

Alnylam Pharmaceuticals (NASDAQ:ALNY) was upgraded by equities researchers at Citigroup to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts have also issued reports on the company. Wells Fargo & Company boosted their target price on Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Chardan Capital reiterated a “buy” rating and issued a $425.00 price objective on shares of Alnylam Pharmaceuticals in a report on Wednesday, March 25th. Barclays started coverage on Alnylam Pharmaceuticals in a research report on Wednesday, January 28th. They issued an “overweight” rating and a $527.00 target price for the company. Wall Street Zen raised Alnylam Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $330.00 target price (down from $522.00) on shares of Alnylam Pharmaceuticals in a report on Monday, March 16th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $463.13.

Alnylam Pharmaceuticals Price Performance

Alnylam Pharmaceuticals stock opened at $294.30 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.06 and a current ratio of 3.13. Alnylam Pharmaceuticals has a 52 week low of $284.19 and a 52 week high of $495.55. The stock has a market capitalization of $39.29 billion, a P/E ratio of 80.41 and a beta of 0.31. The stock has a fifty day moving average of $312.56 and a 200-day moving average of $362.08.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, beating the consensus estimate of $0.87 by $1.12. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The business’s quarterly revenue was up 96.4% on a year-over-year basis. During the same period last year, the company earned ($0.44) earnings per share. On average, sell-side analysts expect that Alnylam Pharmaceuticals will post 7.36 earnings per share for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, EVP Kevin Joseph Fitzgerald sold 1,652 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $319.73, for a total transaction of $528,193.96. Following the completion of the transaction, the executive vice president owned 21,860 shares in the company, valued at $6,989,297.80. The trade was a 7.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Yvonne Greenstreet sold 6,799 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $327.65, for a total value of $2,227,692.35. Following the completion of the sale, the chief executive officer owned 98,628 shares of the company’s stock, valued at $32,315,464.20. The trade was a 6.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 21,255 shares of company stock valued at $6,930,337 over the last ninety days. 0.86% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds have recently modified their holdings of ALNY. Root Financial Partners LLC purchased a new position in Alnylam Pharmaceuticals in the 3rd quarter valued at about $25,000. MV Capital Management Inc. purchased a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in Alnylam Pharmaceuticals in the 3rd quarter valued at approximately $29,000. HM Payson & Co. purchased a new position in Alnylam Pharmaceuticals in the 4th quarter valued at approximately $27,000. Finally, Ameriflex Group Inc. purchased a new position in Alnylam Pharmaceuticals in the 3rd quarter valued at approximately $32,000. 92.97% of the stock is owned by hedge funds and other institutional investors.

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.