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

Needham & Company LLC reissued their buy rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a report released on Thursday, Benzinga reports. Needham & Company LLC currently has a $320.00 price target on the biopharmaceutical company’s stock.

Several other research analysts have also recently issued reports on the company. Canaccord Genuity Group raised their target price on Alnylam Pharmaceuticals from $357.00 to $366.00 and gave the stock a buy rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised their target price on Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the stock a neutral rating in a research report on Monday, August 26th. BMO Capital Markets reissued an outperform rating and issued a $234.00 target price on shares of Alnylam Pharmaceuticals in a research report on Monday, June 24th. Royal Bank of Canada reissued an outperform rating and issued a $300.00 target price on shares of Alnylam Pharmaceuticals in a research report on Thursday, September 19th. Finally, Raymond James raised their target price on Alnylam Pharmaceuticals from $242.00 to $275.00 and gave the stock an outperform rating in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Alnylam Pharmaceuticals currently has an average rating of Moderate Buy and a consensus target price of $285.62.

Alnylam Pharmaceuticals Price Performance

Alnylam Pharmaceuticals stock opened at $284.32 on Thursday. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $287.55. The stock has a market capitalization of $35.96 billion, a PE ratio of -106.09 and a beta of 0.39. The business’s fifty day moving average is $269.10 and its 200 day moving average is $212.52.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.61. The business had revenue of $659.83 million for the quarter, compared to analysts’ expectations of $447.22 million. During the same period last year, the business earned ($2.21) earnings per share. The company’s quarterly revenue was up 107.0% on a year-over-year basis. As a group, sell-side analysts expect that Alnylam Pharmaceuticals will post -2.73 EPS for the current fiscal year.

Insider Transactions at Alnylam Pharmaceuticals

In related news, CEO Yvonne Greenstreet sold 15,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total transaction of $4,200,000.00. Following the completion of the transaction, the chief executive officer now directly owns 73,441 shares of the company’s stock, valued at approximately $20,563,480. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Dennis A. Ausiello sold 20,250 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $262.00, for a total transaction of $5,305,500.00. Following the completion of the transaction, the director now directly owns 136 shares of the company’s stock, valued at approximately $35,632. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Yvonne Greenstreet sold 15,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total transaction of $4,200,000.00. Following the transaction, the chief executive officer now directly owns 73,441 shares of the company’s stock, valued at $20,563,480. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,398 shares of company stock valued at $13,595,460 over the last three months. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Souders Financial Advisors grew its stake in shares of Alnylam Pharmaceuticals by 1.0% in the 2nd quarter. Souders Financial Advisors now owns 3,512 shares of the biopharmaceutical company’s stock worth $853,000 after buying an additional 36 shares in the last quarter. V Square Quantitative Management LLC grew its stake in shares of Alnylam Pharmaceuticals by 21.9% in the 2nd quarter. V Square Quantitative Management LLC now owns 334 shares of the biopharmaceutical company’s stock worth $81,000 after buying an additional 60 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Alnylam Pharmaceuticals by 54.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 259 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 91 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Alnylam Pharmaceuticals in the 2nd quarter worth $26,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of Alnylam Pharmaceuticals by 1.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 10,921 shares of the biopharmaceutical company’s stock worth $1,632,000 after buying an additional 116 shares in the last quarter. 92.97% of the stock is 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.