Chardan Capital Reiterates “Buy” Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reiterated by equities researchers at Chardan Capital in a research report issued on Friday, Benzinga reports. They currently have a $300.00 target price on the biopharmaceutical company’s stock. Chardan Capital’s target price points to a potential upside of 12.53% from the company’s previous close.

Several other brokerages have also issued reports on ALNY. Morgan Stanley raised their target price on Alnylam Pharmaceuticals from $250.00 to $255.00 and gave the company an “equal weight” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. lifted their price objective on shares of Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Canaccord Genuity Group increased their target price on shares of Alnylam Pharmaceuticals from $357.00 to $366.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Barclays upped their price objective on Alnylam Pharmaceuticals from $291.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Citigroup upped their price target on Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.86.

Alnylam Pharmaceuticals Stock Performance

Alnylam Pharmaceuticals stock opened at $266.59 on Friday. The stock has a market cap of $34.22 billion, a PE ratio of -444.31 and a beta of 0.39. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $304.39. The firm’s 50-day simple moving average is $274.80 and its 200 day simple moving average is $224.70.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.61. The business had revenue of $659.83 million during the quarter, compared to the consensus estimate of $447.22 million. The business’s revenue was up 107.0% on a year-over-year basis. During the same period in the prior year, the company earned ($2.21) earnings per share. As a group, analysts predict that Alnylam Pharmaceuticals will post -2.59 EPS for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In related news, Director Dennis A. Ausiello sold 20,250 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $262.00, for a total value of $5,305,500.00. Following the completion of the transaction, the director now directly owns 136 shares in the company, valued at approximately $35,632. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,000 shares of Alnylam Pharmaceuticals stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 73,441 shares of the company’s stock, valued at approximately $20,563,480. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Dennis A. Ausiello sold 20,250 shares of Alnylam Pharmaceuticals stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total transaction of $5,305,500.00. Following the completion of the transaction, the director now owns 136 shares in the company, valued at approximately $35,632. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

Institutional Trading of Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Research Global Investors grew its stake in shares of Alnylam Pharmaceuticals by 7.3% in the first quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock worth $470,018,000 after purchasing an additional 214,908 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Alnylam Pharmaceuticals by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock worth $550,837,000 after buying an additional 201,784 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Alnylam Pharmaceuticals by 92.5% during the second quarter. AQR Capital Management LLC now owns 271,619 shares of the biopharmaceutical company’s stock valued at $65,862,000 after buying an additional 130,482 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Alnylam Pharmaceuticals during the first quarter valued at approximately $18,886,000. Finally, Deerfield Management Company L.P. Series C bought a new position in shares of Alnylam Pharmaceuticals during the second quarter valued at approximately $29,111,000. 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.