Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price Up 8.6% – Here’s What Happened

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)’s stock price traded up 8.6% during mid-day trading on Wednesday . The company traded as high as $259.97 and last traded at $267.16. 758,392 shares were traded during trading, a decline of 47% from the average session volume of 1,440,174 shares. The stock had previously closed at $246.11.

Wall Street Analysts Forecast Growth

ALNY has been the topic of a number of recent research reports. Stifel Nicolaus cut their target price on Alnylam Pharmaceuticals from $444.00 to $318.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Sanford C. Bernstein reiterated a “buy” rating on shares of Alnylam Pharmaceuticals in a research note on Monday. JPMorgan Chase & Co. cut their price objective on shares of Alnylam Pharmaceuticals from $400.00 to $375.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Raymond James Financial upgraded shares of Alnylam Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and set a $420.00 price objective for the company in a research note on Monday, August 3rd. Finally, TD Cowen reiterated a “buy” rating on shares of Alnylam Pharmaceuticals in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $386.14.

Alnylam Pharmaceuticals Stock Up 8.0%

The company has a current ratio of 3.05, a quick ratio of 2.99 and a debt-to-equity ratio of 0.75. The stock has a market cap of $35.58 billion, a P/E ratio of 49.33 and a beta of 0.30. The company’s 50 day moving average price is $260.86 and its two-hundred day moving average price is $292.43.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.21. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the company posted ($0.51) EPS. The company’s revenue was up 66.9% compared to the same quarter last year. Equities analysts forecast that Alnylam Pharmaceuticals, Inc. will post 6.59 earnings per share for the current year.

Institutional Trading of Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Daiwa Securities Group Inc. raised its stake in shares of Alnylam Pharmaceuticals by 0.3% in the second quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company’s stock worth $4,220,000 after buying an additional 35 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Alnylam Pharmaceuticals by 100.0% in the fourth quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 36 shares during the period. Coldstream Capital Management Inc. boosted its position in shares of Alnylam Pharmaceuticals by 2.4% in the third quarter. Coldstream Capital Management Inc. now owns 1,640 shares of the biopharmaceutical company’s stock worth $748,000 after purchasing an additional 38 shares during the period. Atlantic Union Bankshares Corp increased its stake in shares of Alnylam Pharmaceuticals by 20.9% in the fourth quarter. Atlantic Union Bankshares Corp now owns 231 shares of the biopharmaceutical company’s stock worth $92,000 after purchasing an additional 40 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC increased its stake in shares of Alnylam Pharmaceuticals by 3.3% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 1,266 shares of the biopharmaceutical company’s stock worth $577,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc (NASDAQ: ALNY) is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.