Alnylam Pharmaceuticals (ALNY) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research note issued to investors on Thursday morning. The brokerage currently has a $152.00 price objective on the biopharmaceutical company’s stock.

“Alnylam is expected to announce results of an interim analysis of the Phase 3 trial of givosiran in Acute Hepatic Porphyrias (AHP) later this month. The FDA has reportedly indicated that a statistically significant reduction in biomarker urine ALA level w/ the first 30 enrolled patients may be sufficient for accelerated approval. We expect a positive outcome based on strength of data collected from Phase 1/2 testing, in which profound and durable reductions in urine ALA levels were observed. Mgmt has guided for NDA submission by YE18. We assume U.S. commercial launch in 2H19 and WW peak sales $600-700M. Reiterate BUY.”,” the firm’s analyst commented.

Several other research analysts have also recently issued reports on ALNY. BidaskClub cut shares of Alnylam Pharmaceuticals from a sell rating to a strong sell rating in a report on Tuesday, June 12th. ValuEngine cut shares of Alnylam Pharmaceuticals from a strong-buy rating to a buy rating in a report on Thursday, June 21st. Piper Jaffray Companies cut their price target on shares of Alnylam Pharmaceuticals from $182.00 to $160.00 and set an overweight rating for the company in a report on Wednesday, June 27th. Zacks Investment Research cut shares of Alnylam Pharmaceuticals from a hold rating to a sell rating in a report on Wednesday, July 4th. Finally, Cowen reissued a buy rating and set a $157.00 price target on shares of Alnylam Pharmaceuticals in a report on Thursday, August 2nd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $145.55.

NASDAQ ALNY opened at $97.14 on Thursday. Alnylam Pharmaceuticals has a 52-week low of $74.50 and a 52-week high of $153.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 13.22 and a current ratio of 13.22.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($1.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.74) by $0.11. The firm had revenue of $29.91 million during the quarter, compared to analysts’ expectations of $16.96 million. Alnylam Pharmaceuticals had a negative net margin of 533.52% and a negative return on equity of 38.09%. The firm’s revenue for the quarter was up 87.8% on a year-over-year basis. During the same period in the prior year, the company posted ($1.07) earnings per share. sell-side analysts expect that Alnylam Pharmaceuticals will post -7.27 EPS for the current fiscal year.

In other Alnylam Pharmaceuticals news, COO Yvonne Greenstreet sold 2,500 shares of the stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $120.00, for a total value of $300,000.00. Following the completion of the transaction, the chief operating officer now directly owns 1,916 shares of the company’s stock, valued at $229,920. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Laurie Keating sold 1,563 shares of the stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $105.04, for a total transaction of $164,177.52. Following the completion of the transaction, the senior vice president now directly owns 16,063 shares of the company’s stock, valued at $1,687,257.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,063 shares of company stock valued at $5,733,678. 4.30% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. Xact Kapitalforvaltning AB grew its position in shares of Alnylam Pharmaceuticals by 3.1% in the second quarter. Xact Kapitalforvaltning AB now owns 15,929 shares of the biopharmaceutical company’s stock valued at $1,569,000 after purchasing an additional 486 shares during the last quarter. Guggenheim Capital LLC grew its position in shares of Alnylam Pharmaceuticals by 1.1% in the first quarter. Guggenheim Capital LLC now owns 53,084 shares of the biopharmaceutical company’s stock valued at $6,323,000 after purchasing an additional 600 shares during the last quarter. BTG Pactual Global Asset Management Ltd grew its position in shares of Alnylam Pharmaceuticals by 17.3% in the second quarter. BTG Pactual Global Asset Management Ltd now owns 4,410 shares of the biopharmaceutical company’s stock valued at $434,000 after purchasing an additional 652 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Alnylam Pharmaceuticals by 16.1% in the first quarter. Toronto Dominion Bank now owns 6,058 shares of the biopharmaceutical company’s stock valued at $721,000 after purchasing an additional 842 shares during the last quarter. Finally, American International Group Inc. grew its position in shares of Alnylam Pharmaceuticals by 44.8% in the first quarter. American International Group Inc. now owns 2,906 shares of the biopharmaceutical company’s stock valued at $346,000 after purchasing an additional 899 shares during the last quarter. 93.36% of the stock is owned by institutional investors.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, discovers, develops, and commercializes novel therapeutics based on RNA interference (RNAi). Its pipeline of investigational RNAi therapeutics focuses on genetic medicines, cardio-metabolic diseases, and hepatic infectious diseases. The company's clinical development programs include Patisiran, which is in Phase III clinical trial for the treatment of hereditary transthyretin-mediated amyloidosis; Givosiran that is in Phase III trial to treat acute hepatic porphyrias; Fitusiran, an investigational RNAi therapeutic that is in Phase II open-label extension and Phase III clinical trial for the treatment of hemophilia and rare bleeding disorders; and Inclisiran, which is in III clinical trial for hypercholesterolemia.

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Analyst Recommendations for Alnylam Pharmaceuticals (NASDAQ:ALNY)

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