Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) have received an average recommendation of “Moderate Buy” from twenty brokerages currently covering the stock, according to Bloomberg Ratings. Out of these analysts, five have rated the stock as a hold, while fifteen have given it a buy rating. The average 1-year price target among analysts who have covered the stock in the past year stands at $247.79.
Trading on Thursday saw NASDAQ:ALNY open at $190.38. Alnylam Pharmaceuticals has witnessed a fifty-two week low of $178.64 and a fifty-two week high of $242.97. With a market capitalization of $23.80 billion, the company exhibits a negative PE ratio of -22.11 and a beta of 0.49. As for its moving averages, the firm’s fifty-day simple moving average rests at $193.46, while its 200-day simple moving average is recorded at $197.20.
Alnylam Pharmaceuticals, Inc., operating as a biopharmaceutical company, specializes in the research and development, as well as the commercialization of novel therapeutics based on ribonucleic acid interference (RNAi). The company’s pipeline primarily focuses on genetic medicines, cardio-metabolic diseases, hepatic infectious diseases, and central nervous system (CNS)/ocular diseases.
As investors consider their options within the pharmaceutical industry, Alnylam Pharmaceuticals emerges with encouraging analyst recommendations and positive momentum in its stock performance over the past year. With its innovative approach centered around RNAi therapeutics and promising pipelines targeting various disease categories, this biopharmaceutical company presents itself as an intriguing investment opportunity for those seeking potential growth in the healthcare sector.
Please note that this article references information available on August 24, 2023, based on Bloomberg Ratings reports and market data related to Alnylam Pharmaceuticals’ stock.
Alnylam Pharmaceuticals Receives Mixed Reviews but Remains Focused on Innovative Therapeutics Based on RNA Interference
Alnylam Pharmaceuticals, Inc., a renowned biopharmaceutical company, has recently received mixed reviews from equities research analysts regarding its stock. Despite this, the company remains focused on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference (RNAi). With a pipeline of investigational RNAi therapeutics that span various medical fields such as genetic medicines, cardio-metabolic diseases, hepatic infectious diseases, and central nervous system (CNS)/ocular diseases, Alnylam Pharmaceuticals continues to be at the forefront of innovative medical research.
On Monday, August 7th, HC Wainwright reaffirmed its “buy” rating for Alnylam Pharmaceuticals and set a price objective of $405.00 per share in its research note. Meanwhile, Morgan Stanley expressed an “equal weight” rating and established a $210.00 price objective for the company’s shares in their research note published on Friday, August 4th. On Wednesday, April 26th, Sumitomo Mitsui Financial Group initiated coverage on Alnylam Pharmaceuticals and gave the stock a “neutral” rating with a price target of $220.00 per share.
Additionally, StockNews.com recently began covering Alnylam Pharmaceuticals and offered a “hold” rating on the stock in their research note released on Thursday, August 17th. Finally, BMO Capital Markets upgraded Alnylam Pharmaceuticals from a “market perform” rating to an “outperform” rating in their report published on Friday, May 5th. They also increased their price target for the stock from $200.00 to $250.00.
Within the realm of executive movements, there have been notable transactions involving key individuals within Alnylam Pharmaceuticals’ leadership team. Chief Marketing Officer (CMO) Pushkal Garg sold 3,461 shares of Alnylam Pharmaceuticals stock on Friday, August 4th, for a total transaction value of $643,226.85. Following this sale, Garg now directly owns 8,511 shares of the company’s stock, valued at approximately $1,581,769.35. The chief financial officer (CFO), Jeffrey V. Poulton, also sold 3,460 shares of Alnylam Pharmaceuticals stock on the same day, with an average price of $185.85 per share and a total transaction value of $643,041.00. As a result of this sale, Poulton now holds 15,873 shares in the company valued at $2,949,997.05.
These transactions were disclosed in separate filings with the Securities and Exchange Commission (SEC). Investors interested in further details can access these filings on the SEC website.
Furthermore, it is worth noting that insiders have sold a substantial number of Alnylam Pharmaceuticals’ shares in recent months. In total, corporate insiders have sold 15,144 shares valued at $2,806,347 within the last ninety days alone. However, it is important to mention that insiders currently hold only 1.40% of the company’s stock.
Regarding institutional investors and hedge funds’ positions in Alnylam Pharmaceuticals’ stock, Vanguard Group Inc., BlackRock Inc., Price T Rowe Associates Inc., T. Rowe Price Investment Management Inc., and State Street Corp are some entities that have made changes to their holdings recently.
Vanguard Group Inc., for example, increased its stake in Alnylam Pharmaceuticals by 1.2% during the first quarter and now owns approximately 10,829,144 shares valued at $1,768 billion after purchasing an additional 126,373 shares during the period.
Similarly showcasing confidence in Alnylam Pharmaceuticals’ future prospects is BlackRock Inc., which increased its stake by 0.7% during the first quarter to own around 8,548,962 shares worth $1,712 billion after acquiring an extra 59,582 shares.
Price T Rowe Associates Inc. also showed optimism by raising its stake in Alnylam Pharmaceuticals by 9.5% during the fourth quarter and now owns a total of 4,074,144 shares valued at $968.2 million after purchasing an additional 353,538 shares.
Another notable institutional investor, T. Rowe Price Investment Management Inc., increased its stake by 0.3% during the fourth quarter to own roughly 3,202,793 shares worth $761.1 million after buying an additional 10,609 shares.
Lastly, State Street Corp demonstrated confidence in the company’s future growth potential by increasing its stake by 2.1% during the first quarter and now owns around 2,909,490 shares valued at $475 million after acquiring an additional 59,101 shares.
These changes in institutional investors’ positions indicate substantial confidence in Alnylam Pharmaceuticals’ performance and future prospects for growth.
In conclusion, despite the range of ratings received from equities research analysts and several insider transactions involving key leadership individuals at Alnylam Pharmaceuticals recently, the biopharmaceutical company remains committed to discovering and developing groundbreaking therapeutics based on RNA interference