Alnylam Pharmaceuticals (NASDAQ:ALNY) Receives Buy Rating from HC Wainwright

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

Several other equities analysts have also recently issued reports on the company. Raymond James Financial upgraded Alnylam Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and set a $420.00 price target on the stock in a report on Monday, August 3rd. TD Cowen reissued a “buy” rating on shares of Alnylam Pharmaceuticals in a report on Monday. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Alnylam Pharmaceuticals in a research note on Monday. Royal Bank Of Canada reduced their target price on shares of Alnylam Pharmaceuticals from $445.00 to $350.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Finally, Citigroup lowered their price target on shares of Alnylam Pharmaceuticals from $380.00 to $340.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $386.14.

Alnylam Pharmaceuticals Stock Up 2.3%

Shares of NASDAQ:ALNY opened at $246.11 on Wednesday. Alnylam Pharmaceuticals has a 12 month low of $197.81 and a 12 month high of $495.55. The company’s 50-day moving average price is $260.86 and its two-hundred day moving average price is $292.43. The company has a quick ratio of 2.99, a current ratio of 3.05 and a debt-to-equity ratio of 0.75. The firm has a market cap of $32.93 billion, a P/E ratio of 45.75 and a beta of 0.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly 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 business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the firm earned ($0.51) earnings per share. Alnylam Pharmaceuticals’s revenue was up 66.9% compared to the same quarter last year. As a group, research analysts forecast that Alnylam Pharmaceuticals will post 6.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. boosted its position in shares of Alnylam Pharmaceuticals by 0.3% during the second quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company’s stock worth $4,220,000 after buying an additional 35 shares during the period. Golden State Wealth Management LLC raised its position in Alnylam Pharmaceuticals by 100.0% in the 4th quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 36 shares during the last quarter. Coldstream Capital Management Inc. raised its position in Alnylam Pharmaceuticals by 2.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,640 shares of the biopharmaceutical company’s stock valued at $748,000 after buying an additional 38 shares during the last quarter. Atlantic Union Bankshares Corp lifted its stake in Alnylam Pharmaceuticals by 20.9% in the 4th quarter. Atlantic Union Bankshares Corp now owns 231 shares of the biopharmaceutical company’s stock valued at $92,000 after acquiring an additional 40 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC boosted its position in Alnylam Pharmaceuticals by 3.3% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 1,266 shares of the biopharmaceutical company’s stock worth $577,000 after acquiring an additional 40 shares during the last quarter. 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.