Alnylam Pharmaceuticals (NASDAQ:ALNY) Earns Buy Rating from Needham & Company LLC

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They currently have a $320.00 price objective on the biopharmaceutical company's stock. Needham & Company LLC's target price points to a potential upside of 35.13% from the stock's current price.

Several other equities research analysts also recently commented on ALNY. Chardan Capital reiterated a "buy" rating and set a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday, March 21st. Scotiabank lifted their price target on Alnylam Pharmaceuticals from $338.00 to $342.00 and gave the stock a "sector outperform" rating in a research report on Monday, March 31st. Wells Fargo & Company increased their price objective on Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the company an "equal weight" rating in a report on Friday, March 21st. Bank of America raised their price objective on Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. Finally, Redburn Atlantic initiated coverage on Alnylam Pharmaceuticals in a research report on Monday, March 31st. They issued a "buy" rating and a $353.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $315.58.

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Alnylam Pharmaceuticals Stock Down 0.4 %

NASDAQ ALNY traded down $0.96 on Wednesday, hitting $236.81. The stock had a trading volume of 267,023 shares, compared to its average volume of 862,813. The business's fifty day moving average price is $253.20 and its 200 day moving average price is $258.26. The stock has a market cap of $30.81 billion, a price-to-earnings ratio of -109.13 and a beta of 0.30. The company has a debt-to-equity ratio of 15.27, a current ratio of 2.78 and a quick ratio of 2.71. Alnylam Pharmaceuticals has a 52-week low of $141.98 and a 52-week high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced 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). Equities research analysts anticipate that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Activity

In related news, EVP Kevin Joseph Fitzgerald sold 663 shares of the company's stock in a transaction dated Friday, February 14th. The shares were 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 owns 14,321 shares of the company's stock, valued at approximately $3,654,862.41. This represents a 4.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CMO Pushkal Garg sold 52,592 shares of Alnylam Pharmaceuticals stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $285.00, for a total transaction of $14,988,720.00. Following the transaction, the chief marketing officer now directly owns 11,989 shares in the company, valued at $3,416,865. This trade represents a 81.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,234 shares of company stock worth $19,958,097 over the last quarter. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Alnylam Pharmaceuticals

Several institutional investors have recently made changes to their positions in the company. Wedmont Private Capital raised its holdings in Alnylam Pharmaceuticals by 7.2% in the 1st quarter. Wedmont Private Capital now owns 1,592 shares of the biopharmaceutical company's stock valued at $430,000 after buying an additional 107 shares during the period. TB Alternative Assets Ltd. acquired a new stake in shares of Alnylam Pharmaceuticals in the 1st quarter valued at $2,476,000. Whipplewood Advisors LLC lifted its holdings in Alnylam Pharmaceuticals by 208.8% during the 1st quarter. Whipplewood Advisors LLC now owns 105 shares of the biopharmaceutical company's stock worth $28,000 after buying an additional 71 shares during the last quarter. Merit Financial Group LLC boosted its holdings in Alnylam Pharmaceuticals by 113.0% in the first quarter. Merit Financial Group LLC now owns 5,314 shares of the biopharmaceutical company's stock valued at $1,435,000 after purchasing an additional 2,819 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Alnylam Pharmaceuticals by 1.0% in the first quarter. Rhumbline Advisers now owns 181,463 shares of the biopharmaceutical company's stock valued at $48,999,000 after purchasing an additional 1,885 shares during the last quarter. Hedge funds and other institutional investors own 92.97% of the company's stock.

About Alnylam Pharmaceuticals

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.