StockNews.com Downgrades Alnylam Pharmaceuticals (NASDAQ:ALNY) to Hold

Alnylam Pharmaceuticals (NASDAQ:ALNY) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Several other research analysts have also commented on ALNY. Cantor Fitzgerald reiterated a “neutral” rating and issued a $220.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday, October 11th. Canaccord Genuity Group lifted their target price on Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Piper Sandler restated an “overweight” rating and set a $296.00 price target on shares of Alnylam Pharmaceuticals in a report on Monday, November 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday, November 1st. Finally, Bank of America increased their target price on shares of Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the company a “buy” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $298.61.

Alnylam Pharmaceuticals Price Performance

NASDAQ:ALNY traded up $4.60 during trading hours on Thursday, reaching $240.55. The stock had a trading volume of 653,976 shares, compared to its average volume of 529,635. The stock has a market capitalization of $31.03 billion, a PE ratio of -91.81 and a beta of 0.34. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $304.39. The company has a 50 day moving average price of $249.60 and a two-hundred day moving average price of $259.41. The company has a debt-to-equity ratio of 31.64, a quick ratio of 2.69 and a current ratio of 2.75.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.36). The company had revenue of $500.90 million for the quarter, compared to the consensus estimate of $532.91 million. During the same quarter in the previous year, the company earned $1.15 EPS. The business’s revenue was down 33.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alnylam Pharmaceuticals will post -2.21 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Yvonne Greenstreet sold 5,219 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total transaction of $1,309,864.62. Following the completion of the sale, the chief executive officer now owns 78,880 shares in the company, valued at approximately $19,797,302.40. This represents a 6.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Pushkal Garg sold 1,682 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total value of $422,148.36. Following the transaction, the chief marketing officer now owns 17,457 shares in the company, valued at approximately $4,381,357.86. This trade represents a 8.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,122 shares of company stock worth $2,540,455. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Large investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in Alnylam Pharmaceuticals by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,147,203 shares of the biopharmaceutical company’s stock worth $589,209,000 after purchasing an additional 66,928 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Alnylam Pharmaceuticals by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 487,348 shares of the biopharmaceutical company’s stock worth $134,035,000 after buying an additional 16,756 shares during the last quarter. Avoro Capital Advisors LLC lifted its stake in shares of Alnylam Pharmaceuticals by 33.3% during the second quarter. Avoro Capital Advisors LLC now owns 400,000 shares of the biopharmaceutical company’s stock worth $97,200,000 after buying an additional 100,000 shares during the period. Swiss National Bank grew its holdings in shares of Alnylam Pharmaceuticals by 0.3% during the third quarter. Swiss National Bank now owns 375,400 shares of the biopharmaceutical company’s stock valued at $103,246,000 after buying an additional 1,000 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its position in shares of Alnylam Pharmaceuticals by 25.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 309,589 shares of the biopharmaceutical company’s stock valued at $85,889,000 after acquiring an additional 63,385 shares during the period. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Company Profile

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.