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 analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They presently have a $320.00 target price on the biopharmaceutical company's stock. Needham & Company LLC's target price suggests a potential upside of 29.69% from the company's previous close.

Several other brokerages have also weighed in on ALNY. Scotiabank cut their price objective on shares of Alnylam Pharmaceuticals from $310.00 to $300.00 and set a "sector outperform" rating on the stock in a report on Friday, February 14th. StockNews.com lowered shares of Alnylam Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, January 9th. HC Wainwright raised their price target on shares of Alnylam Pharmaceuticals from $400.00 to $500.00 and gave the company a "buy" rating in a report on Monday, February 24th. Royal Bank of Canada restated an "outperform" rating and issued a $300.00 price target on shares of Alnylam Pharmaceuticals in a report on Tuesday, February 11th. Finally, Sanford C. Bernstein cut their price target on shares of Alnylam Pharmaceuticals from $314.00 to $310.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $304.26.

Alnylam Pharmaceuticals Trading Up 4.1 %

Shares of Alnylam Pharmaceuticals stock traded up $9.65 during mid-day trading on Wednesday, hitting $246.75. 1,178,627 shares of the stock were exchanged, compared to its average volume of 731,883. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $304.39. The stock has a market capitalization of $31.94 billion, a price-to-earnings ratio of -113.71 and a beta of 0.35. The company has a 50-day simple moving average of $254.30 and a 200 day simple moving average of $262.42. The company has a current ratio of 2.78, a quick ratio of 2.71 and a debt-to-equity ratio of 15.27.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its quarterly 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). Research analysts forecast that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, EVP Kevin Joseph Fitzgerald sold 663 shares of Alnylam Pharmaceuticals stock in a transaction on 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 transaction, the executive vice president now owns 14,321 shares of the company's stock, valued at $3,654,862.41. The trade was a 4.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Pushkal Garg sold 52,592 shares of Alnylam Pharmaceuticals stock in a transaction on 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 completion of the transaction, the chief marketing officer now directly owns 11,989 shares of the company's stock, valued at approximately $3,416,865. This represents a 81.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,986 shares of company stock valued at $20,397,849 over the last 90 days. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Huntington National Bank lifted its stake in Alnylam Pharmaceuticals by 91.8% in the third quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company's stock valued at $26,000 after buying an additional 45 shares during the last quarter. Hollencrest Capital Management bought a new stake in Alnylam Pharmaceuticals in the third quarter valued at $29,000. Larson Financial Group LLC lifted its stake in Alnylam Pharmaceuticals by 187.2% in the fourth quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company's stock valued at $26,000 after buying an additional 73 shares during the last quarter. Park Square Financial Group LLC bought a new stake in Alnylam Pharmaceuticals in the fourth quarter valued at $28,000. Finally, R Squared Ltd bought a new stake in Alnylam Pharmaceuticals in the fourth quarter valued at $33,000. 92.97% of the stock is currently owned by institutional investors.

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.