HC Wainwright Reaffirms "Buy" Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at HC Wainwright in a research note issued on Friday, Benzinga reports. They currently have a $400.00 price objective on the biopharmaceutical company's stock. HC Wainwright's price objective indicates a potential upside of 52.27% from the stock's previous close.

Other analysts have also issued research reports about the company. Cantor Fitzgerald raised their target price on Alnylam Pharmaceuticals from $150.00 to $220.00 and gave the company a "neutral" rating in a report on Monday, July 22nd. Citigroup upped their target price on shares of Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Chardan Capital restated a "buy" rating and set a $225.00 price objective on shares of Alnylam Pharmaceuticals in a report on Friday, May 3rd. Leerink Partners increased their target price on shares of Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the company a "market perform" rating in a research note on Tuesday, June 25th. Finally, Wells Fargo & Company boosted their price target on Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the company an "equal weight" rating in a research note on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $278.59.

Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ:ALNY traded down $24.32 during mid-day trading on Friday, hitting $262.69. The stock had a trading volume of 3,762,411 shares, compared to its average volume of 901,792. The company's 50 day moving average is $254.02 and its 200-day moving average is $186.86. Alnylam Pharmaceuticals has a 12-month low of $141.98 and a 12-month high of $287.55. The company has a market cap of $33.23 billion, a PE ratio of -97.80 and a beta of 0.37.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.61. The company had revenue of $659.83 million during the quarter, compared to analyst estimates of $447.22 million. The firm's quarterly revenue was up 107.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($2.21) EPS. On average, equities research analysts predict that Alnylam Pharmaceuticals will post -3.99 EPS for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In other news, CEO Yvonne Greenstreet sold 15,000 shares of the firm's stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total value of $4,200,000.00. Following the transaction, the chief executive officer now owns 73,441 shares of the company's stock, valued at approximately $20,563,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,000 shares of the company's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total transaction of $4,200,000.00. Following the completion of the sale, the chief executive officer now owns 73,441 shares in the company, valued at approximately $20,563,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David E. I. Pyott sold 32,450 shares of the firm's stock in a transaction on Monday, June 24th. The stock was sold at an average price of $220.69, for a total value of $7,161,390.50. Following the completion of the transaction, the director now owns 136 shares in the company, valued at $30,013.84. The disclosure for this sale can be found here. Insiders have sold a total of 103,148 shares of company stock worth $25,658,824 over the last 90 days. Insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter worth about $52,000. Truist Financial Corp acquired a new stake in Alnylam Pharmaceuticals during the 4th quarter worth approximately $474,000. Gilbert & Cook Inc. lifted its stake in Alnylam Pharmaceuticals by 7.7% in the fourth quarter. Gilbert & Cook Inc. now owns 4,443 shares of the biopharmaceutical company's stock valued at $850,000 after buying an additional 317 shares in the last quarter. First Trust Direct Indexing L.P. boosted its holdings in shares of Alnylam Pharmaceuticals by 13.3% in the fourth quarter. First Trust Direct Indexing L.P. now owns 2,898 shares of the biopharmaceutical company's stock valued at $555,000 after buying an additional 340 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter worth $3,259,000. 92.97% of the stock is currently owned by institutional investors and hedge funds.

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.