Alnylam Pharmaceuticals Inc. (ALNY) Sets New 1-Year Low After Analyst Downgrade
Shares of Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) hit a new 52-week low during mid-day trading on Friday after Morgan Stanley downgraded the stock from an overweight rating to an equal weight rating. Morgan Stanley now has a $36.00 price target on the stock, down from their previous price target of $38.00. Alnylam Pharmaceuticals traded as low as $34.18 and last traded at $34.32, with a volume of 3,003,293 shares trading hands. The stock had previously closed at $36.21.
A number of other analysts have also issued reports on ALNY. Credit Suisse Group AG reissued a “buy” rating on shares of Alnylam Pharmaceuticals in a research note on Sunday, June 12th. Cowen and Company restated a “buy” rating on shares of Alnylam Pharmaceuticals in a report on Sunday, June 12th. Leerink Swann restated a “buy” rating on shares of Alnylam Pharmaceuticals in a report on Sunday, June 12th. Zacks Investment Research downgraded Alnylam Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Finally, FBR & Co restated a “buy” rating on shares of Alnylam Pharmaceuticals in a report on Friday, June 10th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $85.75.
In other news, CEO John Maraganore sold 30,151 shares of the business’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $64.69, for a total transaction of $1,950,468.19. Following the sale, the chief executive officer now owns 148,465 shares in the company, valued at $9,604,200.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.00% of the company’s stock.
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A number of large investors have recently modified their holdings of ALNY. Slate Path Capital LP raised its stake in shares of Alnylam Pharmaceuticals by 56.6% in the first quarter. Slate Path Capital LP now owns 1,135,000 shares of the biopharmaceutical company’s stock worth $71,244,000 after buying an additional 410,000 shares in the last quarter. State Street Corp raised its stake in shares of Alnylam Pharmaceuticals by 15.7% in the first quarter. State Street Corp now owns 1,936,520 shares of the biopharmaceutical company’s stock worth $121,553,000 after buying an additional 262,783 shares in the last quarter. Bridger Management LLC purchased a new stake in shares of Alnylam Pharmaceuticals during the first quarter worth approximately $50,041,000. Schroder Investment Management Group raised its stake in shares of Alnylam Pharmaceuticals by 235.0% in the second quarter. Schroder Investment Management Group now owns 18,592 shares of the biopharmaceutical company’s stock worth $1,032,000 after buying an additional 13,042 shares in the last quarter. Finally, Turner Investments L.P. purchased a new stake in shares of Alnylam Pharmaceuticals during the second quarter worth approximately $575,000. Hedge funds and other institutional investors own 85.96% of the company’s stock.
The company’s 50 day moving average price is $71.80 and its 200 day moving average price is $66.24. The stock’s market cap is $2.95 billion.
Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.05) EPS for the quarter, beating analysts’ consensus estimates of ($1.24) by $0.19. Alnylam Pharmaceuticals had a negative return on equity of 29.60% and a negative net margin of 1,204.91%. The company earned $8.70 million during the quarter, compared to analysts’ expectations of $8.09 million. During the same period last year, the business posted ($0.85) EPS. Alnylam Pharmaceuticals’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts expect that Alnylam Pharmaceuticals Inc. will post ($4.68) EPS for the current year.
About Alnylam Pharmaceuticals
Alnylam Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in developing therapeutics based on ribonucleic acid (RNA) interference (RNAi). It is focused on the use of its N-acetylgalactosamine (GalNAc)-conjugate strategy for delivery of small interfering RNAs (siRNAs). Its pipeline of investigational RNAi therapeutics focuses in three Strategic Therapeutic Areas (STArs): Genetic Medicines; Cardio-Metabolic Disease, and Hepatic Infectious Disease.
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