Chardan Capital Reiterates Buy Rating for Alnylam Pharmaceuticals, Inc. (ALNY)
Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)‘s stock had its “buy” rating reissued by equities research analysts at Chardan Capital in a report released on Monday. They currently have a $124.00 price target on the biopharmaceutical company’s stock. Chardan Capital’s price target would indicate a potential upside of 8.96% from the stock’s previous close.
The analysts wrote, “We reiterate: Ionis is part of our open pair trade that is long Alnylam and short Ionis.) We believe the positive patisiran safety and efficacy data should be considered positive for other players in the RNAi space, including Buy-rated Arbutus Biopharma, which will receive royalties on potential sales of patisiran.””
Other equities analysts also recently issued reports about the stock. Morgan Stanley reissued an “equal weight” rating on shares of Alnylam Pharmaceuticals in a research note on Monday, July 10th. BidaskClub downgraded shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 16th. Needham & Company LLC increased their price target on shares of Alnylam Pharmaceuticals from $85.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 20th. J P Morgan Chase & Co reissued a “hold” rating on shares of Alnylam Pharmaceuticals in a research note on Monday, June 26th. Finally, Ladenburg Thalmann Financial Services set a $90.00 price target on shares of Alnylam Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, July 17th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $93.11.
Shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) opened at 113.80 on Monday. The stock has a 50 day moving average price of $81.14 and a 200 day moving average price of $69.12. Alnylam Pharmaceuticals has a 52 week low of $31.38 and a 52 week high of $118.40. The firm’s market capitalization is $10.44 billion.
Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($1.22) by ($0.12). The firm had revenue of $15.93 million for the quarter, compared to the consensus estimate of $23.86 million. Alnylam Pharmaceuticals had a negative net margin of 670.81% and a negative return on equity of 45.53%. The business’s revenue was up 82.9% on a year-over-year basis. During the same period last year, the company posted ($1.05) earnings per share. Analysts forecast that Alnylam Pharmaceuticals will post ($5.19) EPS for the current year.
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In other news, President Barry E. Greene sold 76,815 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $100.00, for a total transaction of $7,681,500.00. Following the sale, the president now owns 165,399 shares in the company, valued at $16,539,900. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 4.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. FMR LLC boosted its holdings in Alnylam Pharmaceuticals by 6.3% in the second quarter. FMR LLC now owns 13,723,153 shares of the biopharmaceutical company’s stock worth $1,094,559,000 after purchasing an additional 815,270 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Alnylam Pharmaceuticals by 0.3% in the first quarter. Wellington Management Group LLP now owns 12,041,179 shares of the biopharmaceutical company’s stock worth $617,111,000 after purchasing an additional 31,208 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Alnylam Pharmaceuticals by 13.4% in the second quarter. Vanguard Group Inc. now owns 6,419,508 shares of the biopharmaceutical company’s stock worth $512,020,000 after purchasing an additional 759,295 shares during the last quarter. BlackRock Inc. boosted its holdings in Alnylam Pharmaceuticals by 9.3% in the second quarter. BlackRock Inc. now owns 5,188,191 shares of the biopharmaceutical company’s stock worth $413,811,000 after purchasing an additional 441,957 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its holdings in Alnylam Pharmaceuticals by 2.9% in the second quarter. Baillie Gifford & Co. now owns 3,431,316 shares of the biopharmaceutical company’s stock worth $273,681,000 after purchasing an additional 96,805 shares during the last quarter. Institutional investors own 94.25% of the company’s stock.
About Alnylam Pharmaceuticals
Alnylam Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of ribonucleic acid (RNA) interference (RNAi) therapeutics. The Company is focused on the use of its N-acetylgalactosamine (GalNAc)-conjugate platform for delivery of small interfering RNAs (siRNAs).
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