Alnylam Pharmaceuticals (NASDAQ:ALNY) Upgraded to Strong-Buy at Raymond James Financial

Alnylam Pharmaceuticals (NASDAQ:ALNY) was upgraded by equities researchers at Raymond James Financial from an “outperform” rating to a “strong-buy” rating in a report released on Monday, Marketbeat reports. The brokerage presently has a $420.00 price objective on the biopharmaceutical company’s stock. Raymond James Financial’s price target points to a potential upside of 104.36% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Truist Financial dropped their price objective on shares of Alnylam Pharmaceuticals from $505.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, July 13th. Stifel Nicolaus reduced their target price on Alnylam Pharmaceuticals from $444.00 to $318.00 and set a “buy” rating for the company in a research report on Friday. Morgan Stanley decreased their price target on shares of Alnylam Pharmaceuticals from $400.00 to $300.00 and set an “equal weight” rating on the stock in a report on Friday. Citigroup began coverage on Alnylam Pharmaceuticals in a report on Tuesday, May 19th. They set a “buy” rating and a $380.00 price objective on the stock. Finally, Needham & Company LLC lowered their price target on shares of Alnylam Pharmaceuticals from $510.00 to $357.00 and set a “buy” rating for the company in a research note on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $404.57.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ ALNY opened at $205.52 on Monday. The stock’s 50 day moving average price is $287.96 and its 200-day moving average price is $310.90. The company has a quick ratio of 3.06, a current ratio of 3.13 and a debt-to-equity ratio of 0.94. Alnylam Pharmaceuticals has a twelve month low of $197.81 and a twelve month high of $495.55. The company has a market capitalization of $27.50 billion, a PE ratio of 38.20 and a beta of 0.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $1.12. Alnylam Pharmaceuticals had a return on equity of 104.81% and a net margin of 15.26%.The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the firm posted ($0.44) EPS. The business’s revenue was up 96.4% compared to the same quarter last year. On average, equities analysts anticipate that Alnylam Pharmaceuticals will post 7.22 EPS for the current year.

Insider Activity at Alnylam Pharmaceuticals

In other news, Director David E. I. Pyott sold 3,830 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $299.18, for a total value of $1,145,859.40. Following the completion of the transaction, the director owned 1,582 shares in the company, valued at $473,302.76. The trade was a 70.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. MV Capital Management Inc. purchased a new position in Alnylam Pharmaceuticals during the fourth quarter valued at $25,000. HM Payson & Co. bought a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC increased its holdings in Alnylam Pharmaceuticals by 100.0% in the 4th quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 36 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Alnylam Pharmaceuticals in the third quarter worth about $29,000. Finally, Manchester Capital Management LLC boosted its position in shares of Alnylam Pharmaceuticals by 600.0% during the 4th quarter. Manchester Capital Management LLC now owns 84 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 72 shares during the last quarter. Institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals News Roundup

Here are the key news stories impacting Alnylam Pharmaceuticals this week:

• Positive Sentiment: Chardan Capital reiterated its Buy rating on Alnylam, providing some support for the investment case amid a wave of more cautious analyst commentary. Alnylam Pharmaceuticals’ Buy Rating Reiterated at Chardan Capital
• Neutral Sentiment: Royal Bank of Canada lowered its price target to $350 but maintained a target well above the current trading level, suggesting reduced expectations rather than a complete loss of confidence. Royal Bank of Canada Cuts Alnylam Pharmaceuticals Price Target
• Negative Sentiment: Wells Fargo cut its price target to $316, adding to concerns that analysts are moderating their valuation assumptions for ALNY. Wells Fargo Cuts Alnylam Pharmaceuticals Price Target
• Negative Sentiment: Stifel Nicolaus reduced its price target to $318, reinforcing the recent pattern of downward target revisions. Stifel Nicolaus Cuts Alnylam Pharmaceuticals Price Target
• Negative Sentiment: Morgan Stanley lowered its expectations for ALNY, while Oppenheimer issued a pessimistic stock-price forecast. These reports may weigh on sentiment by signaling less confidence in near-term appreciation. Morgan Stanley Lowers Expectations Oppenheimer Issues Pessimistic Forecast
• Negative Sentiment: Wall Street Zen downgraded Alnylam to Hold from its previous rating, adding another cautionary signal for investors. Wall Street Zen Downgrades Alnylam to Hold

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc (NASDAQ: ALNY) is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.