Alnylam Pharmaceuticals Stock Rating Reaffirmed by Zacks (ALNY)

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Zacks restated their neutral rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a report released on Tuesday, American Banking and Market News reports. Zacks currently has a $60.00 price objective on the stock.

Zacks’ analyst wrote, “Alnylam’s first quarter 2014 loss of $0.39 per share was wider than the year-ago loss of $0.15 but narrower than the Zacks Consensus Estimate of a loss of $1.18 per share. We are encouraged by Alnylam’s progress with its pipeline, especially the ATTR program. However, any negative news related to the pipeline will weigh heavily on the stock. We expect investor focus to remain on the development of the pipeline. Meanwhile, Alnylam’s deal with Sanofi is encouraging. The deal ensures continued pipeline progress apart from boosting Alnylam’s balance sheet. We see limited upside potential from current levels and hence maintain our Neutral stance on Alnylam.”

Alnylam Pharmaceuticals (NASDAQ:ALNY) traded down 2.11% on Tuesday, hitting $56.70. 665,132 shares of the company’s stock traded hands. Alnylam Pharmaceuticals has a one year low of $26.57 and a one year high of $112.57. The stock has a 50-day moving average of $57.30 and a 200-day moving average of $66.69. The company’s market cap is $4.281 billion.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, May 8th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.15. The company had revenue of $8.30 million for the quarter, compared to the consensus estimate of $10.80 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The company’s revenue for the quarter was down 55.4% on a year-over-year basis. On average, analysts predict that Alnylam Pharmaceuticals will post $-2.45 earnings per share for the current fiscal year.

Separately, analysts at Needham & Company LLC raised their price target on shares of Alnylam Pharmaceuticals from $65.00 to $84.00 in a research note on Friday, February 14th. They now have a buy rating on the stock. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $76.63.

Alnylam Pharmaceuticals, Inc (NASDAQ:ALNY) is a biopharmaceutical company developing therapeutics based on ribonucleic acid interface (RNAi).

To view Zacks’ full report, visit Zacks’ official website.

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