Alnylam Pharmaceuticals (NASDAQ:ALNY) Earns Buy Rating from Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNYFree Report) in a research report report published on Friday morning, Benzinga reports. Canaccord Genuity Group currently has a $283.00 price target on the biopharmaceutical company’s stock.

Several other brokerages have also recently commented on ALNY. Needham & Company LLC reaffirmed a buy rating and set a $200.00 price target on shares of Alnylam Pharmaceuticals in a research report on Thursday, May 2nd. StockNews.com upgraded Alnylam Pharmaceuticals from a hold rating to a buy rating in a research report on Monday, April 29th. William Blair reissued an outperform rating on shares of Alnylam Pharmaceuticals in a research report on Monday, April 8th. HC Wainwright raised their price objective on Alnylam Pharmaceuticals from $395.00 to $400.00 and gave the stock a buy rating in a research note on Tuesday, May 7th. Finally, BMO Capital Markets reiterated an outperform rating and set a $234.00 target price on shares of Alnylam Pharmaceuticals in a research note on Wednesday, March 27th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Alnylam Pharmaceuticals has a consensus rating of Moderate Buy and a consensus price target of $220.12.

Read Our Latest Stock Report on ALNY

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY opened at $165.70 on Friday. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $218.88. The stock has a 50-day moving average price of $150.49 and a 200 day moving average price of $162.27. The company has a market capitalization of $20.96 billion, a P/E ratio of -61.83 and a beta of 0.30.

Alnylam Pharmaceuticals (NASDAQ:ALNYGet Free Report) last released its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.23. The business had revenue of $494.33 million for the quarter, compared to analysts’ expectations of $428.01 million. The business’s quarterly revenue was up 54.8% compared to the same quarter last year. During the same quarter last year, the company posted ($1.40) earnings per share. As a group, equities research analysts forecast that Alnylam Pharmaceuticals will post -3.74 earnings per share for the current fiscal year.

Insider Activity

In other Alnylam Pharmaceuticals news, Director Amy W. Schulman sold 21,700 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $148.60, for a total value of $3,224,620.00. Following the completion of the sale, the director now directly owns 8,436 shares in the company, valued at $1,253,589.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several large investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. raised its holdings in shares of Alnylam Pharmaceuticals by 1.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 2,938 shares of the biopharmaceutical company’s stock valued at $562,000 after acquiring an additional 51 shares during the period. EP Wealth Advisors LLC raised its stake in Alnylam Pharmaceuticals by 6.4% during the 3rd quarter. EP Wealth Advisors LLC now owns 1,177 shares of the biopharmaceutical company’s stock valued at $208,000 after purchasing an additional 71 shares during the period. Commerce Bank lifted its holdings in shares of Alnylam Pharmaceuticals by 1.7% in the fourth quarter. Commerce Bank now owns 4,683 shares of the biopharmaceutical company’s stock valued at $896,000 after purchasing an additional 77 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Alnylam Pharmaceuticals by 7.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,368 shares of the biopharmaceutical company’s stock worth $262,000 after buying an additional 89 shares during the period. Finally, Metis Global Partners LLC grew its holdings in shares of Alnylam Pharmaceuticals by 2.2% during the fourth quarter. Metis Global Partners LLC now owns 4,382 shares of the biopharmaceutical company’s stock valued at $839,000 after buying an additional 94 shares in the last quarter. 92.97% of the stock is owned by institutional investors.

Alnylam Pharmaceuticals Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Alnylam Pharmaceuticals (NASDAQ:ALNY)

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