Morgan Stanley Reiterates Equal Weight Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Posted by Defense World Staff on Aug 6th, 2023

Alnylam Pharmaceuticals (NASDAQ:ALNY – Get Free Report)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Morgan Stanley in a note issued to investors on Friday, Benzinga reports. They currently have a $210.00 price target on the biopharmaceutical company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 13.16% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $240.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday. Sumitomo Mitsui Financial Group began coverage on shares of Alnylam Pharmaceuticals in a research note on Wednesday, April 26th. They issued a “neutral” rating and a $220.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $270.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday. BMO Capital Markets upgraded shares of Alnylam Pharmaceuticals from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $200.00 to $250.00 in a research report on Friday, May 5th. Finally, StockNews.com upgraded shares of Alnylam Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, July 21st. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $251.05.

Alnylam Pharmaceuticals Stock Down 2.4 %

Shares of NASDAQ:ALNY opened at $185.58 on Friday. The company has a market cap of $23.11 billion, a price-to-earnings ratio of -21.55 and a beta of 0.49. The firm’s 50-day simple moving average is $195.05 and its 200-day simple moving average is $201.20. Alnylam Pharmaceuticals has a fifty-two week low of $179.19 and a fifty-two week high of $242.97.

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

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the stock. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Alnylam Pharmaceuticals by 4.3% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,220 shares of the biopharmaceutical company’s stock valued at $244,000 after purchasing an additional 50 shares during the period. Captrust Financial Advisors grew its stake in Alnylam Pharmaceuticals by 4.3% during the second quarter. Captrust Financial Advisors now owns 1,285 shares of the biopharmaceutical company’s stock worth $187,000 after buying an additional 53 shares during the period. Ieq Capital LLC grew its stake in Alnylam Pharmaceuticals by 4.0% during the fourth quarter. Ieq Capital LLC now owns 1,447 shares of the biopharmaceutical company’s stock worth $344,000 after buying an additional 55 shares during the period. Souders Financial Advisors grew its stake in Alnylam Pharmaceuticals by 2.6% during the first quarter. Souders Financial Advisors now owns 2,236 shares of the biopharmaceutical company’s stock worth $448,000 after buying an additional 57 shares during the period. Finally, Signaturefd LLC grew its stake in Alnylam Pharmaceuticals by 3.8% during the fourth quarter. Signaturefd LLC now owns 1,604 shares of the biopharmaceutical company’s stock worth $381,000 after buying an additional 59 shares during the period. 94.43% of the stock is currently owned by hedge funds and other institutional investors.

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.