Alnylam Pharmaceuticals (NASDAQ:ALNY) Hits New 12-Month Low After Analyst Downgrade

Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) reached a new 52-week low during trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $420.00 to $400.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Alnylam Pharmaceuticals traded as low as $264.21 and last traded at $266.99, with a volume of 1104594 shares. The stock had previously closed at $271.37.

A number of other analysts also recently issued reports on ALNY. Royal Bank Of Canada dropped their price objective on shares of Alnylam Pharmaceuticals from $450.00 to $445.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Weiss Ratings raised Alnylam Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Chardan Capital restated a “buy” rating and set a $425.00 price target on shares of Alnylam Pharmaceuticals in a research report on Wednesday, March 25th. Truist Financial dropped their price target on Alnylam Pharmaceuticals from $505.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Finally, Citigroup began coverage on Alnylam Pharmaceuticals in a report on Tuesday, May 19th. They issued a “buy” rating and a $380.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $452.13.

Insider Activity

In related news, Director David E. I. Pyott sold 3,830 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the transaction, the director owned 1,582 shares of the company’s stock, valued at approximately $473,302.76. This trade represents a 70.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.86% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in ALNY. Geode Capital Management LLC increased its holdings in shares of Alnylam Pharmaceuticals by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 2,650,722 shares of the biopharmaceutical company’s stock worth $1,056,884,000 after buying an additional 151,480 shares during the period. Norges Bank purchased a new stake in Alnylam Pharmaceuticals during the 4th quarter valued at about $895,816,000. Orbis Allan Gray Ltd grew its position in Alnylam Pharmaceuticals by 29.8% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company’s stock worth $691,771,000 after acquiring an additional 486,489 shares during the last quarter. Legal & General Group Plc grew its position in Alnylam Pharmaceuticals by 8.3% during the 4th quarter. Legal & General Group Plc now owns 961,496 shares of the biopharmaceutical company’s stock worth $382,339,000 after acquiring an additional 73,716 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Alnylam Pharmaceuticals by 23.6% in the 4th quarter. AQR Capital Management LLC now owns 919,959 shares of the biopharmaceutical company’s stock worth $365,822,000 after purchasing an additional 175,951 shares during the period. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Stock Up 0.7%

The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94. The stock has a 50 day simple moving average of $292.52 and a 200 day simple moving average of $316.95. The firm has a market capitalization of $35.88 billion, a PE ratio of 73.43 and a beta of 0.27.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $1.12. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the firm posted ($0.44) earnings per share. The business’s quarterly revenue was up 96.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Alnylam Pharmaceuticals, Inc. will post 7.35 earnings per share for the current year.

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.