Alnylam Pharmaceuticals Inc. (ALNY) Stock Rating Reaffirmed by Cowen and Company
Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY)‘s stock had its “outperform” rating reaffirmed by equities researchers at Cowen and Company in a note issued to investors on Saturday. They presently have a $100.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $150.00. Cowen and Company’s target price would suggest a potential upside of 191.80% from the stock’s current price.
Several other research firms have also issued reports on ALNY. Needham & Company LLC reiterated a “buy” rating and set a $152.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, August 5th. Jefferies Group set a $86.00 target price on shares of Alnylam Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, September 28th. Janney Montgomery Scott began coverage on shares of Alnylam Pharmaceuticals in a report on Wednesday, September 28th. They set a “neutral” rating and a $74.00 target price for the company. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $65.00 price objective (up from $63.00) on shares of Alnylam Pharmaceuticals in a report on Wednesday, August 10th. Finally, Zacks Investment Research upgraded shares of Alnylam Pharmaceuticals from a “sell” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, August 9th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Alnylam Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $80.88.
Alnylam Pharmaceuticals (NASDAQ:ALNY) opened at 34.27 on Friday. The company’s market capitalization is $2.94 billion. The firm’s 50-day moving average price is $70.69 and its 200 day moving average price is $66.05. Alnylam Pharmaceuticals has a one year low of $33.16 and a one year high of $110.75.
Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.24) by $0.19. Alnylam Pharmaceuticals had a negative net margin of 1,204.91% and a negative return on equity of 29.60%. The firm earned $8.70 million during the quarter, compared to analyst estimates of $8.09 million. During the same period last year, the business earned ($0.85) earnings per share. The business’s revenue was up .2% on a year-over-year basis. On average, equities research analysts expect that Alnylam Pharmaceuticals will post ($4.68) earnings per share for the current fiscal year.
In other news, CEO John Maraganore sold 30,151 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $64.69, for a total transaction of $1,950,468.19. Following the completion of the sale, the chief executive officer now owns 148,465 shares of the company’s stock, valued at approximately $9,604,200.85. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ALNY. Dodge & Cox purchased a new position in shares of Alnylam Pharmaceuticals during the second quarter valued at $139,650,000. Wellington Management Group LLP increased its position in shares of Alnylam Pharmaceuticals by 12.1% in the first quarter. Wellington Management Group LLP now owns 11,945,607 shares of the biopharmaceutical company’s stock valued at $749,826,000 after buying an additional 1,288,123 shares in the last quarter. Bridger Management LLC purchased a new position in shares of Alnylam Pharmaceuticals during the first quarter valued at $50,041,000. Slate Path Capital LP increased its position in shares of Alnylam Pharmaceuticals by 56.6% in the first quarter. Slate Path Capital LP now owns 1,135,000 shares of the biopharmaceutical company’s stock valued at $71,244,000 after buying an additional 410,000 shares in the last quarter. Finally, Deerfield Management Co. purchased a new position in shares of Alnylam Pharmaceuticals during the second quarter valued at $18,645,000. 85.96% of the stock is owned by institutional investors.
About Alnylam Pharmaceuticals
Alnylam Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in developing therapeutics based on ribonucleic acid (RNA) interference (RNAi). It is focused on the use of its N-acetylgalactosamine (GalNAc)-conjugate strategy for delivery of small interfering RNAs (siRNAs). Its pipeline of investigational RNAi therapeutics focuses in three Strategic Therapeutic Areas (STArs): Genetic Medicines; Cardio-Metabolic Disease, and Hepatic Infectious Disease.
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