Alnylam Pharmaceuticals (NASDAQ:ALNY) Rating Reiterated by Needham & Company LLC

Posted by Defense World Staff on Aug 6th, 2023

Alnylam Pharmaceuticals (NASDAQ:ALNY – Get Free Report)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a report issued on Friday, Benzinga reports. They currently have a $240.00 price objective on the biopharmaceutical company’s stock. Needham & Company LLC’s target price points to a potential upside of 29.32% from the company’s previous close.

A number of other research firms also recently issued reports on ALNY. HC Wainwright lowered their target price on Alnylam Pharmaceuticals from $415.00 to $405.00 and set a “buy” rating on the stock in a research report on Tuesday, July 25th. StockNews.com raised Alnylam Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, July 21st. Citigroup lifted their target price on Alnylam Pharmaceuticals from $265.00 to $266.00 and gave the company a “buy” rating in a research report on Friday. Sanford C. Bernstein reduced their price target on Alnylam Pharmaceuticals from $247.00 to $233.00 in a report on Wednesday, July 26th. Finally, Royal Bank of Canada reduced their price target on Alnylam Pharmaceuticals from $275.00 to $270.00 and set an “outperform” rating for the company in a report on Tuesday, July 25th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Alnylam Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $251.05.

Alnylam Pharmaceuticals Price Performance

ALNY opened at $185.58 on Friday. The business’s 50-day moving average price is $195.05 and its two-hundred day moving average price is $201.20. Alnylam Pharmaceuticals has a 1 year low of $179.19 and a 1 year high of $242.97. The company has a market capitalization of $23.11 billion, a price-to-earnings ratio of -21.55 and a beta of 0.49.

Alnylam Pharmaceuticals (NASDAQ:ALNY – Get Free Report) last released its quarterly earnings results on Thursday, May 4th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.97) by $0.57. The firm had revenue of $319.29 million for the quarter, compared to the consensus estimate of $312.53 million. Alnylam Pharmaceuticals had a negative return on equity of 1,287.80% and a negative net margin of 85.95%. The company’s revenue for the quarter was up 49.7% on a year-over-year basis. During the same quarter last year, the business posted ($2.00) EPS. Sell-side analysts anticipate that Alnylam Pharmaceuticals will post -6.45 earnings per share for the current fiscal year.

Institutional Trading of Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its holdings in Alnylam Pharmaceuticals by 22.6% in the second quarter. Envestnet Asset Management Inc. now owns 18,843 shares of the biopharmaceutical company’s stock valued at $3,579,000 after purchasing an additional 3,477 shares during the period. American International Group Inc. increased its holdings in Alnylam Pharmaceuticals by 13.0% in the second quarter. American International Group Inc. now owns 2,066 shares of the biopharmaceutical company’s stock valued at $392,000 after purchasing an additional 237 shares during the period. abrdn plc increased its holdings in Alnylam Pharmaceuticals by 0.6% in the second quarter. abrdn plc now owns 23,584 shares of the biopharmaceutical company’s stock valued at $4,480,000 after purchasing an additional 130 shares during the period. Banque Pictet & Cie SA increased its holdings in Alnylam Pharmaceuticals by 420.4% in the second quarter. Banque Pictet & Cie SA now owns 26,578 shares of the biopharmaceutical company’s stock valued at $5,048,000 after purchasing an additional 21,471 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Alnylam Pharmaceuticals by 15.2% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,549 shares of the biopharmaceutical company’s stock valued at $1,814,000 after purchasing an additional 1,259 shares during the period. 94.43% of the stock is currently owned by institutional investors and hedge funds.

Alnylam Pharmaceuticals Company Profile

(Get Free Report)

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. The company's pipeline of investigational RNAi therapeutics focuses on genetic medicines, cardio-metabolic diseases, hepatic infectious diseases, and central nervous system (CNS)/ocular diseases.