Alnylam Pharmaceuticals (NASDAQ:ALNY) Rating Lowered to “Buy” at Wall Street Zen

Alnylam Pharmaceuticals (NASDAQ:ALNY) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Sunday.

A number of other research analysts also recently commented on the company. Royal Bank Of Canada dropped their price objective on Alnylam Pharmaceuticals from $450.00 to $445.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $330.00 price target (down from $522.00) on shares of Alnylam Pharmaceuticals in a report on Monday, March 16th. Truist Financial lowered their price target on Alnylam Pharmaceuticals from $515.00 to $505.00 and set a “buy” rating for the company in a report on Monday, April 13th. Weiss Ratings raised shares of Alnylam Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Finally, Chardan Capital restated a “buy” rating and set a $425.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Wednesday, March 25th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $463.13.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY stock opened at $278.09 on Friday. The company has a market cap of $37.13 billion, a P/E ratio of 75.98 and a beta of 0.29. The firm has a fifty day moving average price of $300.18 and a 200 day moving average price of $338.11. The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94. Alnylam Pharmaceuticals has a 12 month low of $273.11 and a 12 month high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results 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. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.Alnylam Pharmaceuticals’s quarterly revenue was up 96.4% on a year-over-year basis. During the same period last year, the firm earned ($0.44) earnings per share. Sell-side analysts predict that Alnylam Pharmaceuticals will post 7.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David E. I. Pyott sold 3,830 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $299.18, for a total value of $1,145,859.40. Following the completion of the sale, the director owned 1,582 shares in the company, valued at $473,302.76. This represents a 70.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Melissa Mclaughlin sold 2,286 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $330.42, for a total transaction of $755,340.12. Following the sale, the insider owned 9,443 shares of the company’s stock, valued at approximately $3,120,156.06. This represents a 19.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 7,740 shares of company stock worth $2,420,214. Insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. iA Global Asset Management Inc. boosted its position in Alnylam Pharmaceuticals by 979.5% during the fourth quarter. iA Global Asset Management Inc. now owns 17,780 shares of the biopharmaceutical company’s stock worth $7,070,000 after acquiring an additional 16,133 shares during the last quarter. Perpetual Ltd acquired a new position in Alnylam Pharmaceuticals in the 4th quarter valued at $2,004,000. Linden Advisors LP acquired a new position in Alnylam Pharmaceuticals in the 3rd quarter valued at $6,550,000. WINTON GROUP Ltd lifted its stake in shares of Alnylam Pharmaceuticals by 92.5% during the 3rd quarter. WINTON GROUP Ltd now owns 6,800 shares of the biopharmaceutical company’s stock worth $3,101,000 after purchasing an additional 3,267 shares during the period. Finally, Elo Mutual Pension Insurance Co lifted its stake in shares of Alnylam Pharmaceuticals by 26.5% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 17,865 shares of the biopharmaceutical company’s stock worth $8,146,000 after purchasing an additional 3,738 shares during the period. 92.97% of the stock is owned by hedge funds and other institutional investors.

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.