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

Alnylam Pharmaceuticals (NASDAQ:ALNY) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Other research analysts have also recently issued reports about the company. Sanford C. Bernstein reduced their price target on Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating for the company in a research report on Tuesday. TD Cowen lifted their target price on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the company a “buy” rating in a report on Monday, October 21st. Chardan Capital reissued a “buy” rating and set a $300.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. Raymond James lifted their price objective on shares of Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Piper Sandler reissued an “overweight” rating and set a $296.00 target price on shares of Alnylam Pharmaceuticals in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $298.61.

Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ:ALNY traded up $4.60 during midday trading on Thursday, reaching $240.55. The company’s stock had a trading volume of 653,976 shares, compared to its average volume of 529,635. The company has a quick ratio of 2.69, a current ratio of 2.75 and a debt-to-equity ratio of 31.64. The stock has a fifty day moving average of $249.60 and a 200 day moving average of $259.41. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $304.39. The firm has a market capitalization of $31.03 billion, a PE ratio of -91.81 and a beta of 0.34.

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 business had revenue of $500.90 million during the quarter, compared to the consensus estimate of $532.91 million. The business’s revenue for the quarter was down 33.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.15 earnings per share. On average, equities analysts expect that Alnylam Pharmaceuticals will post -2.21 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CMO Pushkal Garg sold 1,752 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $251.00, for a total transaction of $439,752.00. Following the transaction, the chief marketing officer now owns 15,705 shares of the company’s stock, valued at approximately $3,941,955. The trade was a 10.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Tolga Tanguler sold 1,469 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total transaction of $368,689.62. Following the sale, the executive vice president now owns 13,191 shares of the company’s stock, valued at approximately $3,310,677.18. The trade was a 10.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,122 shares of company stock worth $2,540,455. 1.50% of the stock is owned by insiders.

Institutional Trading of Alnylam Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new stake in Alnylam Pharmaceuticals during the second quarter worth $26,000. Huntington National Bank grew its holdings in shares of Alnylam Pharmaceuticals by 91.8% during the 3rd quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 45 shares during the period. Hollencrest Capital Management acquired a new stake in shares of Alnylam Pharmaceuticals during the 3rd quarter worth about $29,000. Washington Trust Advisors Inc. purchased a new stake in Alnylam Pharmaceuticals in the 3rd quarter valued at about $42,000. Finally, True Wealth Design LLC lifted its position in Alnylam Pharmaceuticals by 15,300.0% in the third quarter. True Wealth Design LLC now owns 154 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 92.97% of the company’s stock.

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.