Zacks Investment Research upgraded shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) from a sell rating to a hold rating in a research report released on Tuesday morning.
According to Zacks, “Alnylam reported positive data from the ATLAS study which led to regulatory filings for its late-stage pipeline candidate patisiran and an action date of Aug 11, 2018 as set by the FDA. The company along with its partners Sanofi and The Medicines Company, restarted fitusiran's ATLAS phase III study and advanced inclisiran in the ORION-9, -10, and -11 phase III studies, respectively, with results expected for both programs in 2019. Alnylam expects to achieve the profile of three marketed products by the end of 2020. Although Alnylam has a broad and promising pipeline, we note that most candidates are in mid stages of development. These candidates still have a long way to go before hitting the market. The company relies highly on collaborators for funding. Any development/regulatory setback would be a negative for the company. Stiff competition remains a threat as well. Estimates have remained stable ahead of the Q1 earnings results.”
A number of other research analysts also recently commented on ALNY. BidaskClub upgraded Alnylam Pharmaceuticals from a hold rating to a buy rating in a report on Wednesday, March 14th. Piper Jaffray reiterated a buy rating and issued a $182.00 price objective on shares of Alnylam Pharmaceuticals in a report on Sunday, January 7th. Jefferies Group set a $156.00 price objective on Alnylam Pharmaceuticals and gave the company a buy rating in a report on Friday, February 9th. BMO Capital Markets dropped their price objective on Alnylam Pharmaceuticals from $165.00 to $160.00 and set an outperform rating on the stock in a report on Friday, February 9th. Finally, Evercore ISI assumed coverage on Alnylam Pharmaceuticals in a report on Wednesday, March 28th. They issued a line rating and a $143.00 price objective on the stock. Four analysts have rated the stock with a sell rating, four have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $134.15.
Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data on Thursday, February 8th. The biopharmaceutical company reported ($1.48) EPS for the quarter, missing analysts’ consensus estimates of ($1.38) by ($0.10). Alnylam Pharmaceuticals had a negative net margin of 545.95% and a negative return on equity of 41.08%. The business had revenue of $37.90 million during the quarter, compared to analysts’ expectations of $19.31 million. During the same quarter in the previous year, the company posted ($1.32) EPS. The company’s revenue was up 116.6% compared to the same quarter last year. research analysts expect that Alnylam Pharmaceuticals will post -7.02 earnings per share for the current year.
In related news, SVP Laurie Keating sold 1,562 shares of the firm’s stock in a transaction that occurred on Tuesday, March 20th. The stock was sold at an average price of $149.83, for a total transaction of $234,034.46. Following the transaction, the senior vice president now owns 16,062 shares in the company, valued at approximately $2,406,569.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Yvonne Greenstreet sold 7,221 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Monday, March 26th. The shares were sold at an average price of $136.54, for a total value of $985,955.34. Following the completion of the transaction, the chief operating officer now owns 7,221 shares in the company, valued at $985,955.34. The disclosure for this sale can be found here. Insiders have sold a total of 198,620 shares of company stock worth $28,404,143 in the last 90 days. 4.30% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Strs Ohio purchased a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at approximately $141,000. CENTRAL TRUST Co grew its stake in shares of Alnylam Pharmaceuticals by 746.3% in the 4th quarter. CENTRAL TRUST Co now owns 1,134 shares of the biopharmaceutical company’s stock valued at $144,000 after purchasing an additional 1,000 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at approximately $165,000. American International Group Inc. purchased a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at approximately $255,000. Finally, Vident Investment Advisory LLC purchased a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at approximately $262,000. Institutional investors own 92.00% of the company’s stock.
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Alnylam Pharmaceuticals Company Profile
Alnylam Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of ribonucleic acid (RNA) interference (RNAi) therapeutics. The Company is focused on the use of its N-acetylgalactosamine (GalNAc)-conjugate platform for delivery of small interfering RNAs (siRNAs).
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