Brokers Set Expectations for Alnylam Pharmaceuticals, Inc.’s Q2 2024 Earnings (NASDAQ:ALNY)

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) – Equities researchers at Leerink Partnrs boosted their Q2 2024 earnings per share (EPS) estimates for shares of Alnylam Pharmaceuticals in a report released on Tuesday, June 25th. Leerink Partnrs analyst M. Foroohar now anticipates that the biopharmaceutical company will post earnings of ($0.90) per share for the quarter, up from their previous forecast of ($1.09). The consensus estimate for Alnylam Pharmaceuticals’ current full-year earnings is ($3.90) per share. Leerink Partnrs also issued estimates for Alnylam Pharmaceuticals’ Q3 2024 earnings at ($0.91) EPS, Q4 2024 earnings at ($1.27) EPS, FY2024 earnings at ($3.61) EPS and FY2025 earnings at ($2.50) EPS.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.23. The company had revenue of $494.33 million during the quarter, compared to analyst estimates of $428.01 million. The business’s revenue was up 54.8% compared to the same quarter last year. During the same period last year, the firm earned ($1.40) earnings per share.

A number of other brokerages also recently commented on ALNY. Royal Bank of Canada lifted their price target on shares of Alnylam Pharmaceuticals from $235.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, June 25th. Citigroup increased their price target on Alnylam Pharmaceuticals from $227.00 to $291.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. SVB Leerink lifted their price objective on Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the company a “market perform” rating in a research report on Tuesday, June 25th. Barclays upped their target price on Alnylam Pharmaceuticals from $236.00 to $291.00 and gave the company an “overweight” rating in a research note on Tuesday, June 25th. Finally, StockNews.com raised Alnylam Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $247.09.

Alnylam Pharmaceuticals Trading Down 1.6 %

Shares of ALNY stock opened at $243.00 on Friday. The company has a market capitalization of $30.74 billion, a price-to-earnings ratio of -90.67 and a beta of 0.30. The firm has a 50-day moving average price of $159.86 and a 200 day moving average price of $164.67. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $252.87.

Insider Buying and Selling

In other news, CMO Pushkal Garg sold 2,103 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $230.99, for a total transaction of $485,771.97. Following the sale, the chief marketing officer now owns 15,609 shares in the company, valued at $3,605,522.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CMO Pushkal Garg sold 2,103 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total transaction of $485,771.97. Following the completion of the sale, the chief marketing officer now directly owns 15,609 shares in the company, valued at $3,605,522.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amy W. Schulman sold 21,700 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 8,436 shares in the company, valued at approximately $1,253,589.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,357 shares of company stock valued at $13,436,711. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Alnylam Pharmaceuticals by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 11,994,261 shares of the biopharmaceutical company’s stock valued at $1,792,542,000 after acquiring an additional 50,366 shares during the last quarter. Wellington Management Group LLP grew its stake in Alnylam Pharmaceuticals by 6.0% in the third quarter. Wellington Management Group LLP now owns 6,431,814 shares of the biopharmaceutical company’s stock worth $1,139,074,000 after purchasing an additional 364,021 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Alnylam Pharmaceuticals by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock worth $550,837,000 after purchasing an additional 201,784 shares in the last quarter. Capital International Investors increased its holdings in Alnylam Pharmaceuticals by 1.8% in the first quarter. Capital International Investors now owns 3,651,217 shares of the biopharmaceutical company’s stock valued at $545,674,000 after buying an additional 64,560 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in Alnylam Pharmaceuticals by 7.3% during the first quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock valued at $470,018,000 after buying an additional 214,908 shares in the last quarter. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

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.