Alnylam Pharmaceuticals (NASDAQ:ALNY) Trading Down 6.7% – What’s Next?

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)’s stock price fell 6.7% during trading on Tuesday . The company traded as low as $240.66 and last traded at $240.95. Approximately 408,778 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 618,691 shares. The stock had previously closed at $258.27.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. William Blair reiterated an “outperform” rating on shares of Alnylam Pharmaceuticals in a research note on Tuesday, November 19th. TD Cowen increased their target price on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. HC Wainwright reaffirmed a “buy” rating and issued a $400.00 price target on shares of Alnylam Pharmaceuticals in a research report on Monday. Sanford C. Bernstein decreased their price target on Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, Chardan Capital reissued a “buy” rating and issued a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $298.61.

Alnylam Pharmaceuticals Price Performance

The company’s 50 day simple moving average is $247.25 and its two-hundred day simple moving average is $259.68. The company has a debt-to-equity ratio of 31.64, a current ratio of 2.75 and a quick ratio of 2.69. The stock has a market capitalization of $32.14 billion, a P/E ratio of -95.10 and a beta of 0.34.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.36). The company had revenue of $500.90 million during the quarter, compared to analysts’ expectations of $532.91 million. During the same period last year, the company earned $1.15 earnings per share. Alnylam Pharmaceuticals’s quarterly revenue was down 33.3% on a year-over-year basis. As a group, equities analysts expect that Alnylam Pharmaceuticals, Inc. will post -2.21 EPS for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals 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 value of $439,752.00. Following the completion of the transaction, the chief marketing officer now directly owns 15,705 shares of the company’s stock, valued at approximately $3,941,955. The trade was a 10.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Yvonne Greenstreet sold 5,219 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total transaction of $1,309,864.62. Following the sale, the chief executive officer now directly owns 78,880 shares in the company, valued at $19,797,302.40. This trade represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,122 shares of company stock valued at $2,540,455 over the last ninety days. 1.50% of the stock is owned by insiders.

Institutional Trading of Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Alnylam Pharmaceuticals during the 2nd quarter worth approximately $26,000. Dimensional Fund Advisors LP boosted its stake in Alnylam Pharmaceuticals by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 266,206 shares of the biopharmaceutical company’s stock valued at $64,702,000 after acquiring an additional 11,027 shares during the last quarter. E Fund Management Co. Ltd. grew its holdings in Alnylam Pharmaceuticals by 75.1% during the 2nd quarter. E Fund Management Co. Ltd. now owns 4,926 shares of the biopharmaceutical company’s stock worth $1,197,000 after acquiring an additional 2,112 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Alnylam Pharmaceuticals by 15.3% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,030 shares of the biopharmaceutical company’s stock valued at $493,000 after acquiring an additional 270 shares during the last quarter. Finally, Amalgamated Bank raised its position in shares of Alnylam Pharmaceuticals by 3.7% during the 2nd quarter. Amalgamated Bank now owns 8,354 shares of the biopharmaceutical company’s stock valued at $2,030,000 after acquiring an additional 301 shares during the last quarter. 92.97% of the stock is currently owned by institutional investors and hedge funds.

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.