Alnylam Pharmaceuticals (NASDAQ:ALNY) Upgraded at BMO Capital Markets

Alnylam Pharmaceuticals (NASDAQ:ALNY) was upgraded by equities researchers at BMO Capital Markets to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

ALNY has been the topic of a number of other reports. Oppenheimer decreased their price objective on Alnylam Pharmaceuticals from $500.00 to $350.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. Needham & Company LLC dropped their target price on Alnylam Pharmaceuticals from $510.00 to $357.00 and set a “buy” rating for the company in a report on Thursday, July 30th. HC Wainwright cut their target price on Alnylam Pharmaceuticals from $485.00 to $455.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Weiss Ratings upgraded Alnylam Pharmaceuticals from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Finally, Chardan Capital restated a “buy” rating and issued a $425.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday, July 31st. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $386.62.

Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ:ALNY opened at $242.61 on Tuesday. The firm has a fifty day simple moving average of $269.15 and a two-hundred day simple moving average of $298.51. Alnylam Pharmaceuticals has a 52 week low of $197.81 and a 52 week high of $495.55. The company has a quick ratio of 2.99, a current ratio of 3.05 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $32.46 billion, a P/E ratio of 45.09 and a beta of 0.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.21. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company earned ($0.51) EPS. The business’s revenue was up 66.9% compared to the same quarter last year. On average, analysts expect that Alnylam Pharmaceuticals will post 6.59 earnings per share for the current fiscal year.

Insider Activity

In other news, Director David E. I. Pyott sold 3,830 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the transaction, the director owned 1,582 shares of the company’s stock, valued at approximately $473,302.76. This represents a 70.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Large investors have recently bought and sold shares of the business. Two Sigma Securities LLC bought a new position in Alnylam Pharmaceuticals in the 2nd quarter valued at $1,681,000. Benjamin Edwards Inc. lifted its position in shares of Alnylam Pharmaceuticals by 7.6% during the second quarter. Benjamin Edwards Inc. now owns 1,168 shares of the biopharmaceutical company’s stock worth $352,000 after purchasing an additional 83 shares during the last quarter. GTS Securities LLC lifted its position in shares of Alnylam Pharmaceuticals by 38.0% during the second quarter. GTS Securities LLC now owns 1,452 shares of the biopharmaceutical company’s stock worth $437,000 after purchasing an additional 400 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Alnylam Pharmaceuticals by 25.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,151 shares of the biopharmaceutical company’s stock valued at $346,000 after purchasing an additional 235 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Alnylam Pharmaceuticals by 7.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,848 shares of the biopharmaceutical company’s stock valued at $219,104,000 after purchasing an additional 50,329 shares during the period. Hedge funds and other institutional investors own 92.97% of the company’s stock.

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.