Alnylam Pharmaceuticals (NASDAQ:ALNY) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Alnylam Pharmaceuticals (NASDAQ:ALNY - Free Report) from a hold rating to a buy rating in a research note published on Friday.

Other analysts have also recently issued reports about the stock. Piper Sandler reiterated an "overweight" rating and issued a $296.00 target price on shares of Alnylam Pharmaceuticals in a research note on Monday, November 18th. Barclays increased their price objective on Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. Raymond James lifted their price objective on Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Cantor Fitzgerald restated a "neutral" rating and issued a $220.00 target price on shares of Alnylam Pharmaceuticals in a research note on Friday, October 11th. Finally, HC Wainwright reissued a "buy" rating and set a $400.00 price objective on shares of Alnylam Pharmaceuticals in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, Alnylam Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $298.09.

Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ ALNY traded down $4.53 during midday trading on Friday, hitting $237.97. The company's stock had a trading volume of 342,907 shares, compared to its average volume of 854,330. The firm has a market capitalization of $30.69 billion, a price-to-earnings ratio of -90.83 and a beta of 0.32. The company has a current ratio of 2.75, a quick ratio of 2.69 and a debt-to-equity ratio of 31.64. The stock has a fifty day moving average price of $259.89 and a 200 day moving average price of $253.96. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.36). The company had revenue of $500.90 million for the quarter, compared to analyst estimates of $532.91 million. The company's quarterly revenue was down 33.3% compared to the same quarter last year. During the same period last year, the company earned $1.15 EPS. On average, research analysts forecast that Alnylam Pharmaceuticals will post -2.21 EPS for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, CEO Yvonne Greenstreet sold 5,219 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total transaction of $1,309,864.62. Following the completion of the sale, the chief executive officer now directly owns 78,880 shares in the company, valued at approximately $19,797,302.40. This represents a 6.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Tolga Tanguler sold 1,469 shares of the business's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total value of $368,689.62. Following the transaction, the executive vice president now owns 13,191 shares in the company, valued at approximately $3,310,677.18. This represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,122 shares of company stock worth $2,540,455. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James & Associates lifted its stake in Alnylam Pharmaceuticals by 7.2% in the second quarter. Raymond James & Associates now owns 16,257 shares of the biopharmaceutical company's stock worth $3,950,000 after acquiring an additional 1,089 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Alnylam Pharmaceuticals by 54.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 259 shares of the biopharmaceutical company's stock worth $63,000 after purchasing an additional 91 shares during the period. Crossmark Global Holdings Inc. bought a new stake in shares of Alnylam Pharmaceuticals during the 2nd quarter valued at about $223,000. Signaturefd LLC increased its position in shares of Alnylam Pharmaceuticals by 25.8% during the second quarter. Signaturefd LLC now owns 1,383 shares of the biopharmaceutical company's stock valued at $336,000 after buying an additional 284 shares during the period. Finally, iA Global Asset Management Inc. raised its stake in Alnylam Pharmaceuticals by 30.4% in the second quarter. iA Global Asset Management Inc. now owns 10,122 shares of the biopharmaceutical company's stock worth $2,460,000 after buying an additional 2,357 shares in 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.