Needham & Company LLC Reaffirms "Buy" Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report)'s stock had its "buy" rating restated by analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They currently have a $320.00 price objective on the biopharmaceutical company's stock. Needham & Company LLC's target price indicates a potential upside of 28.00% from the stock's current price.

Several other equities research analysts have also weighed in on ALNY. StockNews.com lowered Alnylam Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday, January 9th. Piper Sandler reissued an "overweight" rating and set a $296.00 target price on shares of Alnylam Pharmaceuticals in a research report on Monday, November 18th. Scotiabank raised their target price on Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the stock a "sector outperform" rating in a research report on Friday, November 1st. Sanford C. Bernstein cut their target price on Alnylam Pharmaceuticals from $314.00 to $310.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. Finally, Raymond James raised their target price on Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $299.48.

Alnylam Pharmaceuticals Trading Down 2.5 %

Shares of NASDAQ ALNY traded down $6.45 during mid-day trading on Friday, reaching $250.00. 910,256 shares of the company's stock were exchanged, compared to its average volume of 691,656. The company's 50-day moving average is $253.96 and its 200-day moving average is $263.29. Alnylam Pharmaceuticals has a 52-week low of $141.98 and a 52-week high of $304.39. The company has a debt-to-equity ratio of 31.64, a quick ratio of 2.69 and a current ratio of 2.75. The firm has a market capitalization of $32.25 billion, a price-to-earnings ratio of -95.42 and a beta of 0.35.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.03). Analysts expect that Alnylam Pharmaceuticals will post -2.24 EPS for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, EVP Kevin Joseph Fitzgerald sold 663 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $255.21, for a total value of $169,204.23. Following the completion of the sale, the executive vice president now directly owns 14,321 shares of the company's stock, valued at $3,654,862.41. This trade represents a 4.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Pushkal Garg sold 1,682 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total value of $422,148.36. Following the completion of the sale, the chief marketing officer now directly owns 17,457 shares of the company's stock, valued at $4,381,357.86. This represents a 8.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,356 shares of company stock worth $22,498,551. 1.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of ALNY. Regeneron Pharmaceuticals Inc. acquired a new position in Alnylam Pharmaceuticals during the fourth quarter worth $1,045,822,000. Norges Bank acquired a new position in Alnylam Pharmaceuticals during the fourth quarter worth $577,941,000. Capital Research Global Investors raised its holdings in Alnylam Pharmaceuticals by 32.9% during the fourth quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company's stock worth $1,639,767,000 after purchasing an additional 1,724,610 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Alnylam Pharmaceuticals by 39.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company's stock worth $1,031,705,000 after purchasing an additional 1,245,195 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in Alnylam Pharmaceuticals by 496.6% during the fourth quarter. Marshall Wace LLP now owns 378,649 shares of the biopharmaceutical company's stock worth $89,100,000 after purchasing an additional 315,182 shares during the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.