Needham Believes Alnylam Pharma (ALNY) Won’t Stop Here
Needham analyst Joseph Stringer assigned a Buy rating to Alnylam Pharma (ALNY) today and set a price target of $180.00. The company’s shares closed last Thursday at $165.38, close to its 52-week high of $178.41.
According to TipRanks.com, Stringer is a 3-star analyst with an average return of 25.1% and a 77.8% success rate. Stringer covers the Healthcare sector, focusing on stocks such as Apellis Pharmaceuticals, Annexon Biosciences, and Stoke Therapeutics.
Currently, the analyst consensus on Alnylam Pharma is a Moderate Buy with an average price target of $169.47, implying a 1.5% upside from current levels. In a report released yesterday, Piper Sandler also maintained a Buy rating on the stock with a $181.00 price target.
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Based on Alnylam Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $126 million and GAAP net loss of $253 million. In comparison, last year the company earned revenue of $70.06 million and had a GAAP net loss of $209 million.
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Alnylam Pharmaceuticals, Inc. operates as biopharmaceutical company, which engages in the discovery, development and commercialization of RNAi therapeutics. It is the translation of RNAi as a new class of innovative medicines with a core focus on RNAi therapeutics for the treatment of genetically defined diseases. The company was founded by John Kennedy Clarke, Paul R. Schimmel and Phillip A. Sharp on June 14, 2002 and is headquartered in Cambridge, MA.