Cowen Reiterates “Buy” Rating for Alnylam Pharmaceuticals (ALNY)
Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reiterated by equities research analysts at Cowen in a note issued to investors on Tuesday. They currently have a $147.00 target price on the biopharmaceutical company’s stock. Cowen’s target price points to a potential upside of 19.83% from the stock’s previous close.
ALNY has been the topic of a number of other research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $149.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Monday, August 6th. JMP Securities set a $198.00 price objective on shares of Alnylam Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, August 28th. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Alnylam Pharmaceuticals in a research note on Monday, July 23rd. BidaskClub cut shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 18th. Finally, Zacks Investment Research cut shares of Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, May 10th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Alnylam Pharmaceuticals has an average rating of “Buy” and a consensus price target of $141.57.
Shares of NASDAQ:ALNY opened at $122.67 on Tuesday. Alnylam Pharmaceuticals has a twelve month low of $70.76 and a twelve month high of $153.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 13.22 and a current ratio of 13.22. The company has a market capitalization of $12.35 billion, a P/E ratio of -22.63 and a beta of 2.57.
In other news, CEO John Maraganore sold 50,000 shares of the stock in a transaction that occurred on Wednesday, July 25th. The stock was sold at an average price of $105.39, for a total transaction of $5,269,500.00. Following the transaction, the chief executive officer now owns 201,297 shares in the company, valued at approximately $21,214,690.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Laurie Keating sold 1,563 shares of the stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $105.04, for a total value of $164,177.52. Following the transaction, the senior vice president now owns 16,063 shares in the company, valued at approximately $1,687,257.52. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.
Large investors have recently made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of Alnylam Pharmaceuticals during the 2nd quarter valued at approximately $137,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Alnylam Pharmaceuticals during the 1st quarter valued at approximately $170,000. Mutual of America Capital Management LLC lifted its position in shares of Alnylam Pharmaceuticals by 98.5% during the 2nd quarter. Mutual of America Capital Management LLC now owns 1,935 shares of the biopharmaceutical company’s stock valued at $191,000 after buying an additional 960 shares in the last quarter. IPG Investment Advisors LLC purchased a new position in shares of Alnylam Pharmaceuticals during the 2nd quarter valued at approximately $217,000. Finally, First Republic Investment Management Inc. purchased a new position in shares of Alnylam Pharmaceuticals during the 2nd quarter valued at approximately $230,000. Hedge funds and other institutional investors own 93.36% of the company’s stock.
Alnylam Pharmaceuticals Company Profile
Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, discovers, develops, and commercializes novel therapeutics based on RNA interference (RNAi). Its pipeline of investigational RNAi therapeutics focuses on genetic medicines, cardio-metabolic diseases, and hepatic infectious diseases. The company's clinical development programs include Patisiran, which is in Phase III clinical trial for the treatment of hereditary transthyretin-mediated amyloidosis; Givosiran that is in Phase III trial to treat acute hepatic porphyrias; Fitusiran, an investigational RNAi therapeutic that is in Phase II open-label extension and Phase III clinical trial for the treatment of hemophilia and rare bleeding disorders; and Inclisiran, which is in III clinical trial for hypercholesterolemia.
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