Credit Suisse Thinks Alnylam Pharma’s Stock is Going to Recover

By Ryan Adsit

In a report issued on November 3, Alethia Young from Credit Suisse reiterated a Buy rating on Alnylam Pharma (NASDAQ: ALNY), with a price target of $50. The company’s shares closed last Friday at $33.75, close to its 52-week low of $31.38.

According to TipRanks.com, Young is ranked 0 out of 5 stars with an average return of -11.6% and a 24.2% success rate. Young covers the Healthcare sector, focusing on stocks such as Achillion Pharmaceuticals, Ionis Pharmaceuticals Inc, and Alexion Pharmaceuticals.

Currently, the analyst consensus on Alnylam Pharma is Moderate Buy and the average price target is $65.25, representing a 93.3% upside.

In a report issued on October 24, Piper Jaffray also reiterated a Buy rating on the stock with a $106 price target.

Based on Alnylam Pharma’s latest earnings report from June 30, the company posted quarterly revenue of $8.71M and quarterly net profit of -$90.13M. In comparison, last year the company earned revenue of $6.32M and had a net profit of -$76.79M.

Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ALNY in relation to earlier this year. Last month, John Maraganore, the CEO of ALNY bought 7,540 shares for a total of $99,994.

Alnylam Pharmaceuticals, Inc. is a biopharmaceutical company, which 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.