Needham & Company LLC Reiterates “Buy” Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $320.00 price target on the biopharmaceutical company’s stock. Needham & Company LLC’s price target points to a potential upside of 30.51% from the stock’s current price.

ALNY has been the subject of a number of other research reports. Scotiabank dropped their price objective on Alnylam Pharmaceuticals from $310.00 to $300.00 and set a “sector outperform” rating for the company in a report on Friday, February 14th. Barclays boosted their target price on shares of Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Morgan Stanley upped their price target on shares of Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Sanford C. Bernstein decreased their price objective on shares of Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Finally, HC Wainwright upped their target price on shares of Alnylam Pharmaceuticals from $400.00 to $500.00 and gave the stock a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $303.83.

Alnylam Pharmaceuticals Trading Down 1.5 %

Shares of ALNY opened at $245.20 on Wednesday. The company’s fifty day simple moving average is $254.21 and its 200-day simple moving average is $262.72. The company has a market cap of $31.74 billion, a P/E ratio of -112.99 and a beta of 0.35. 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 has a twelve month low of $141.98 and a twelve month high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). As a group, analysts expect that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insiders Place Their Bets

In other news, CMO Pushkal Garg sold 1,548 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $251.67, for a total transaction of $389,585.16. Following the sale, the chief marketing officer now owns 11,989 shares in the company, valued at approximately $3,017,271.63. The trade was a 11.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Phillip A. Sharp sold 11,250 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $275.00, for a total transaction of $3,093,750.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,986 shares of company stock valued at $20,397,849. 1.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALNY. GF Fund Management CO. LTD. purchased a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter valued at approximately $637,000. Focus Partners Advisor Solutions LLC acquired a new position in Alnylam Pharmaceuticals during the fourth quarter worth $203,000. Worldquant Millennium Advisors LLC grew its holdings in Alnylam Pharmaceuticals by 156.6% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 150,191 shares of the biopharmaceutical company’s stock valued at $35,341,000 after buying an additional 91,671 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter worth $6,583,000. Finally, Vident Advisory LLC raised its holdings in shares of Alnylam Pharmaceuticals by 21.2% during the 4th quarter. Vident Advisory LLC now owns 1,327 shares of the biopharmaceutical company’s stock worth $312,000 after acquiring an additional 232 shares during the period. Hedge funds and other institutional investors own 92.97% of the company’s stock.

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.