Piper Sandler Reiterates Overweight Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “overweight” rating reiterated by research analysts at Piper Sandler in a note issued to investors on Monday,Benzinga reports. They presently have a $296.00 price objective on the biopharmaceutical company’s stock. Piper Sandler’s price objective points to a potential upside of 27.90% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the company. Chardan Capital reissued a “buy” rating and set a $300.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and set a $320.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. Canaccord Genuity Group lifted their target price on shares of Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Scotiabank raised their target price on Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $298.09.

Alnylam Pharmaceuticals Trading Down 1.8 %

ALNY traded down $4.13 during midday trading on Monday, hitting $231.43. The company’s stock had a trading volume of 630,521 shares, compared to its average volume of 874,127. Alnylam Pharmaceuticals has a 52-week low of $141.98 and a 52-week high of $304.39. The firm has a 50-day moving average price of $274.95 and a two-hundred day moving average price of $235.53. The company has a current ratio of 2.75, a quick ratio of 2.69 and a debt-to-equity ratio of 31.64. The firm has a market cap of $29.85 billion, a P/E ratio of -88.47 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.36). The company had revenue of $500.90 million for the quarter, compared to analysts’ expectations of $532.91 million. The business’s revenue was down 33.3% compared to the same quarter last year. During the same period last year, the business earned $1.15 earnings per share. On average, research analysts anticipate that Alnylam Pharmaceuticals will post -2.22 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Yvonne Greenstreet sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total value of $4,200,000.00. Following the completion of the sale, the chief executive officer now owns 73,441 shares of the company’s stock, valued at approximately $20,563,480. The trade was a 16.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors lifted its stake in shares of Alnylam Pharmaceuticals by 7.3% in the first quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock worth $470,018,000 after buying an additional 214,908 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Alnylam Pharmaceuticals by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock valued at $550,837,000 after acquiring an additional 201,784 shares during the period. Eventide Asset Management LLC grew its position in shares of Alnylam Pharmaceuticals by 157.9% in the third quarter. Eventide Asset Management LLC now owns 224,333 shares of the biopharmaceutical company’s stock valued at $61,698,000 after purchasing an additional 137,333 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Alnylam Pharmaceuticals by 11,433.4% in the third quarter. Los Angeles Capital Management LLC now owns 137,017 shares of the biopharmaceutical company’s stock worth $37,684,000 after purchasing an additional 135,829 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Alnylam Pharmaceuticals by 92.5% during the 2nd quarter. AQR Capital Management LLC now owns 271,619 shares of the biopharmaceutical company’s stock valued at $65,862,000 after purchasing an additional 130,482 shares during the period. Institutional investors 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.