Needham & Company LLC Has Lowered Expectations for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective cut by analysts at Needham & Company LLC from $529.00 to $510.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Needham & Company LLC’s price objective points to a potential upside of 64.28% from the company’s previous close.

ALNY has been the subject of a number of other research reports. Wells Fargo & Company reduced their price objective on Alnylam Pharmaceuticals from $479.00 to $376.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 20th. Morgan Stanley lowered their price target on shares of Alnylam Pharmaceuticals from $495.00 to $408.00 and set an “equal weight” rating on the stock in a report on Friday, January 30th. HC Wainwright cut their price objective on Alnylam Pharmaceuticals from $570.00 to $510.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Piper Sandler reissued an “overweight” rating and issued a $489.00 price target (up previously from $449.00) on shares of Alnylam Pharmaceuticals in a report on Friday, October 31st. Finally, Raymond James Financial reissued an “outperform” rating and set a $472.00 target price on shares of Alnylam Pharmaceuticals in a research note on Monday, January 12th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $476.34.

Alnylam Pharmaceuticals Stock Down 3.7%

Shares of ALNY stock traded down $11.83 during mid-day trading on Thursday, hitting $310.45. The stock had a trading volume of 1,863,670 shares, compared to its average volume of 1,602,579. Alnylam Pharmaceuticals has a 12-month low of $205.87 and a 12-month high of $495.55. The company has a debt-to-equity ratio of 4.45, a current ratio of 2.54 and a quick ratio of 2.49. The firm’s 50-day moving average is $380.99 and its two-hundred day moving average is $424.91. The firm has a market capitalization of $41.01 billion, a P/E ratio of 1,293.88 and a beta of 0.35.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, February 12th. The biopharmaceutical company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.61). The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Alnylam Pharmaceuticals had a net margin of 1.36% and a return on equity of 26.61%. The company’s revenue for the quarter was up 84.9% on a year-over-year basis. During the same period last year, the business posted ($0.65) EPS. On average, analysts predict that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In related news, CEO Yvonne Greenstreet sold 9,577 shares of the stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $362.86, for a total value of $3,475,110.22. Following the sale, the chief executive officer directly owned 78,411 shares of the company’s stock, valued at approximately $28,452,215.46. This represents a 10.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Pushkal Garg sold 1,510 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $362.87, for a total transaction of $547,933.70. Following the completion of the sale, the executive vice president directly owned 22,511 shares in the company, valued at $8,168,566.57. This trade represents a 6.29% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 31,305 shares of company stock worth $12,459,785. 1.50% of the stock is currently owned by company insiders.

Institutional Trading of Alnylam Pharmaceuticals

A number of hedge funds have recently bought and sold shares of ALNY. Thematics Asset Management purchased a new position in Alnylam Pharmaceuticals during the second quarter worth approximately $1,995,000. Mediolanum International Funds Ltd acquired a new stake in Alnylam Pharmaceuticals during the third quarter worth about $11,389,000. Teacher Retirement System of Texas lifted its stake in shares of Alnylam Pharmaceuticals by 3.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 36,408 shares of the biopharmaceutical company’s stock valued at $11,872,000 after purchasing an additional 1,123 shares in the last quarter. Rakuten Investment Management Inc. purchased a new stake in shares of Alnylam Pharmaceuticals during the 3rd quarter worth about $14,205,000. Finally, Generali Asset Management SPA SGR increased its position in Alnylam Pharmaceuticals by 6,368.0% during the 3rd quarter. Generali Asset Management SPA SGR now owns 3,234 shares of the biopharmaceutical company’s stock worth $1,475,000 after purchasing an additional 3,184 shares in the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc (NASDAQ: ALNY) is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.