Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Alnylam expects 2017 to be a pivotal year with its first phase III data read out from the APOLLO study for its late-stage pipeline candidate patisiran. It also plans to advance two additional programs into late-stage trials in 2017 and already commenced a phase III study for one of its candidates-fitusiran in July 2017. The company expects to achieve the profile of three marketed products by the end of 2020. Shares of the company have outperformed the Medical-Biomedical/Genetics industry year-to-date. The company’s RNAi technology has allowed it to ink collaborations with leading pharmaceutical and life sciences companies like Novartis, Roche, Monsanto and Sanofi. These deals not only provide it with funds but also take its RNAi technology outside the core focus area. However, the company’s dependence on collaborations for revenues is concerning.”

Several other research analysts have also issued reports on the company. Ladenburg Thalmann Financial Services upped their target price on Alnylam Pharmaceuticals from $80.00 to $90.00 and gave the company a “positive” rating in a research report on Monday. Cowen and Company reaffirmed a “buy” rating and set a $100.00 target price on shares of Alnylam Pharmaceuticals in a research report on Tuesday, July 11th. Credit Suisse Group set a $96.00 target price on Alnylam Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, July 11th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Alnylam Pharmaceuticals in a research report on Monday, July 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $98.00 target price on shares of Alnylam Pharmaceuticals in a research report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $78.83.

Shares of Alnylam Pharmaceuticals (ALNY) traded down 1.35% during trading on Monday, hitting $77.68. The stock had a trading volume of 650,316 shares. The stock has a 50-day moving average price of $73.05 and a 200 day moving average price of $53.57. The company’s market cap is $6.70 billion. Alnylam Pharmaceuticals has a 12 month low of $31.38 and a 12 month high of $86.92.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings data on Friday, May 5th. The biopharmaceutical company reported ($1.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.22) by $0.03. Alnylam Pharmaceuticals had a negative return on equity of 42.90% and a negative net margin of 705.11%. The company had revenue of $19 million for the quarter, compared to analysts’ expectations of $22.91 million. During the same quarter last year, the company earned ($1.21) earnings per share. The company’s revenue for the quarter was up 160.3% compared to the same quarter last year. Equities analysts expect that Alnylam Pharmaceuticals will post ($5.24) EPS for the current fiscal year.

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In related news, major shareholder Sanofi bought 297,501 shares of the stock in a transaction dated Wednesday, May 31st. The shares were purchased at an average price of $71.87 per share, for a total transaction of $21,381,396.87. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael Mason sold 9,375 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $70.00, for a total value of $656,250.00. Following the completion of the sale, the vice president now owns 5,625 shares in the company, valued at approximately $393,750. The disclosure for this sale can be found here. Insiders sold 64,125 shares of company stock worth $4,325,000 in the last 90 days. Company insiders own 4.30% of the company’s stock.

Several hedge funds have recently modified their holdings of ALNY. First Manhattan Co. bought a new stake in shares of Alnylam Pharmaceuticals during the first quarter worth approximately $135,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Alnylam Pharmaceuticals during the first quarter worth approximately $148,000. Capstone Asset Management Co. bought a new stake in shares of Alnylam Pharmaceuticals during the second quarter worth approximately $232,000. Westpac Banking Corp bought a new stake in shares of Alnylam Pharmaceuticals during the first quarter worth approximately $202,000. Finally, Prudential Financial Inc. bought a new stake in shares of Alnylam Pharmaceuticals during the first quarter worth approximately $215,000. Hedge funds and other institutional investors own 89.22% of the company’s stock.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of ribonucleic acid (RNA) interference (RNAi) therapeutics. The Company is focused on the use of its N-acetylgalactosamine (GalNAc)-conjugate platform for delivery of small interfering RNAs (siRNAs).

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Analyst Recommendations for Alnylam Pharmaceuticals (NASDAQ:ALNY)

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