Needham & Company LLC Reaffirms Buy Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They presently have a $320.00 target price on the biopharmaceutical company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 26.18% from the company’s previous close.

ALNY has been the subject of several other research reports. Sanford C. Bernstein reduced their price objective on shares of Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. StockNews.com cut shares of Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday. Morgan Stanley boosted their price objective on shares of Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. boosted their price objective on shares of Alnylam Pharmaceuticals from $272.00 to $280.00 and gave the company a “neutral” rating in a research note on Tuesday, March 11th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $310.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $304.74.

Alnylam Pharmaceuticals Price Performance

ALNY opened at $253.60 on Friday. The company has a market capitalization of $32.83 billion, a price-to-earnings ratio of -116.87 and a beta of 0.39. The company has a quick ratio of 2.71, a current ratio of 2.78 and a debt-to-equity ratio of 15.27. The firm has a 50-day moving average price of $256.25 and a 200-day moving average price of $259.51. 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 earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.03). Equities analysts expect that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, Director Phillip A. Sharp sold 11,250 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $275.00, for a total value of $3,093,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Yvonne Greenstreet sold 1,213 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $255.17, for a total value of $309,521.21. Following the completion of the sale, the chief executive officer now owns 81,526 shares of the company’s stock, valued at approximately $20,802,989.42. This trade represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,234 shares of company stock worth $19,958,097 in the last ninety days. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of ALNY. Larson Financial Group LLC lifted its holdings in Alnylam Pharmaceuticals by 187.2% in the 4th quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 73 shares during the period. Park Square Financial Group LLC bought a new position in shares of Alnylam Pharmaceuticals in the 4th quarter worth approximately $28,000. R Squared Ltd bought a new position in shares of Alnylam Pharmaceuticals in the 4th quarter worth approximately $33,000. OFI Invest Asset Management bought a new position in shares of Alnylam Pharmaceuticals in the 4th quarter worth approximately $35,000. Finally, Colonial Trust Co SC bought a new position in shares of Alnylam Pharmaceuticals in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 92.97% of the company’s stock.

About Alnylam Pharmaceuticals

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.