Alnylam Pharmaceuticals (NASDAQ:ALNY) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research note released on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $200.00 price objective on the biopharmaceutical company’s stock.

ALNY has been the subject of a number of other research reports. JPMorgan Chase & Co. lifted their price target on shares of Alnylam Pharmaceuticals from $150.00 to $170.00 and gave the stock a neutral rating in a research note on Thursday, February 1st. The Goldman Sachs Group lowered shares of Alnylam Pharmaceuticals from a buy rating to a neutral rating and cut their target price for the company from $230.00 to $173.00 in a research note on Friday, February 16th. Wells Fargo & Company decreased their price target on Alnylam Pharmaceuticals from $171.00 to $161.00 and set an equal weight rating for the company in a research note on Friday, February 16th. BMO Capital Markets restated an outperform rating and set a $234.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Wednesday, March 27th. Finally, Morgan Stanley decreased their target price on Alnylam Pharmaceuticals from $184.00 to $176.00 and set an equal weight rating for the company in a research report on Tuesday, February 13th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $215.88.

Alnylam Pharmaceuticals Trading Up 1.3 %

ALNY stock traded up $2.02 during trading on Thursday, reaching $152.33. The stock had a trading volume of 452,157 shares, compared to its average volume of 763,489. The firm has a fifty day moving average price of $149.76 and a 200 day moving average price of $165.25. The company has a market capitalization of $19.19 billion, a P/E ratio of -42.22 and a beta of 0.41. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $218.88.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.23. The business had revenue of $494.33 million during the quarter, compared to analyst estimates of $428.01 million. During the same quarter last year, the firm posted ($1.40) EPS. The company’s revenue was up 54.8% compared to the same quarter last year. Sell-side analysts predict that Alnylam Pharmaceuticals will post -4.46 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 287,064 shares during the period. Wellington Management Group LLP raised its stake in Alnylam Pharmaceuticals by 6.0% during the 3rd quarter. Wellington Management Group LLP now owns 6,431,814 shares of the biopharmaceutical company’s stock valued at $1,139,074,000 after acquiring an additional 364,021 shares in the last quarter. Capital International Investors raised its stake in Alnylam Pharmaceuticals by 15.8% during the 4th quarter. Capital International Investors now owns 3,586,657 shares of the biopharmaceutical company’s stock valued at $686,641,000 after acquiring an additional 488,814 shares in the last quarter. Capital Research Global Investors boosted its position in Alnylam Pharmaceuticals by 5.3% during the 4th quarter. Capital Research Global Investors now owns 2,930,079 shares of the biopharmaceutical company’s stock worth $560,880,000 after acquiring an additional 146,236 shares during the period. Finally, Norges Bank bought a new position in shares of Alnylam Pharmaceuticals in the fourth quarter worth $390,438,000. 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.