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

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)’s stock price hit a new 52-week low during mid-day 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.

ALNY has been the subject of several other reports. Citigroup assumed coverage on Alnylam Pharmaceuticals in a report on Tuesday, May 19th. They issued a “buy” rating and a $380.00 target price for the company. Truist Financial cut their price target on Alnylam Pharmaceuticals from $505.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, July 13th. Morgan Stanley lifted their price objective on Alnylam Pharmaceuticals from $370.00 to $400.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. Royal Bank Of Canada lowered their price objective on shares of Alnylam Pharmaceuticals from $450.00 to $445.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Finally, HC Wainwright raised their target price on shares of Alnylam Pharmaceuticals from $470.00 to $485.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $452.13.

Insider Transactions at Alnylam Pharmaceuticals

In other news, Director David E. I. Pyott sold 3,830 shares of Alnylam Pharmaceuticals stock in a transaction on Monday, June 1st. The stock was sold at an average price of $299.18, for a total value of $1,145,859.40. Following the transaction, the director directly owned 1,582 shares in the company, valued at approximately $473,302.76. This trade represents a 70.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. MV Capital Management Inc. purchased a new position in Alnylam Pharmaceuticals in the fourth quarter valued at about $25,000. HM Payson & Co. purchased a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter valued at about $27,000. Golden State Wealth Management LLC lifted its position in shares of Alnylam Pharmaceuticals by 100.0% during the fourth quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 36 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at about $29,000. Finally, Manchester Capital Management LLC boosted its holdings in shares of Alnylam Pharmaceuticals by 600.0% in the 4th quarter. Manchester Capital Management LLC now owns 84 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 72 shares in the last quarter. Institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Stock Performance

The business’s 50-day moving average price is $293.02 and its 200-day moving average price is $317.88. 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 market cap of $35.65 billion, a PE ratio of 72.95 and a beta of 0.27.

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

Alnylam Pharmaceuticals Company Profile

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.