BMO Capital Markets Reaffirms Outperform Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

BMO Capital Markets reiterated their outperform rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research note released on Wednesday morning, Benzinga reports. BMO Capital Markets currently has a $234.00 target price on the biopharmaceutical company’s stock.

A number of other brokerages also recently weighed in on ALNY. HC Wainwright reissued a buy rating and set a $395.00 target price on shares of Alnylam Pharmaceuticals in a research note on Tuesday, March 5th. William Blair restated an outperform rating on shares of Alnylam Pharmaceuticals in a report on Monday, January 8th. Cantor Fitzgerald restated a neutral rating and issued a $165.00 price target on shares of Alnylam Pharmaceuticals in a report on Tuesday, February 20th. Citigroup reduced their price target on shares of Alnylam Pharmaceuticals from $237.00 to $227.00 and set a buy rating for the company in a report on Friday, February 16th. Finally, Needham & Company LLC restated a buy rating and issued a $200.00 price target on shares of Alnylam Pharmaceuticals in a report on Thursday, February 15th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Alnylam Pharmaceuticals has a consensus rating of Moderate Buy and a consensus price target of $216.12.

Alnylam Pharmaceuticals Stock Down 3.2 %

Shares of NASDAQ ALNY opened at $149.45 on Wednesday. Alnylam Pharmaceuticals has a twelve month low of $143.52 and a twelve month high of $218.88. The firm has a fifty day simple moving average of $159.58 and a 200 day simple moving average of $170.09. The company has a market capitalization of $18.82 billion, a PE ratio of -41.98 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.10. The firm had revenue of $439.72 million for the quarter, compared to the consensus estimate of $439.38 million. During the same period in the prior year, the business earned ($1.68) EPS. Alnylam Pharmaceuticals’s quarterly revenue was up 31.2% on a year-over-year basis. As a group, equities analysts expect that Alnylam Pharmaceuticals will post -4.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Alnylam Pharmaceuticals by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock worth $2,286,181,000 after purchasing an additional 287,064 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Alnylam Pharmaceuticals during the fourth quarter worth about $52,000. Eventide Asset Management LLC purchased a new position in Alnylam Pharmaceuticals during the fourth quarter worth about $16,653,000. Public Employees Retirement System of Ohio boosted its holdings in Alnylam Pharmaceuticals by 1.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 55,417 shares of the biopharmaceutical company’s stock worth $10,607,000 after purchasing an additional 747 shares during the last quarter. Finally, Employees Retirement System of Texas purchased a new position in Alnylam Pharmaceuticals during the fourth quarter worth about $720,000. 92.97% of the stock is currently owned by institutional investors and hedge funds.

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.