Alnylam Pharmaceuticals (NASDAQ:ALNY) Downgraded to Underperform Rating by Wolfe Research

Wolfe Research lowered shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) from a peer perform rating to an underperform rating in a report released on Tuesday morning, Marketbeat reports.

Other analysts also recently issued research reports about the stock. Scotiabank increased their target price on shares of Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. TD Cowen raised their target price on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the company a “buy” rating in a research note on Monday, October 21st. HC Wainwright reaffirmed a “buy” rating and set a $400.00 price target on shares of Alnylam Pharmaceuticals in a research report on Monday, November 4th. Chardan Capital restated a “buy” rating and set a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday, November 1st. Finally, Bank of America upped their target price on Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, Alnylam Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $294.50.

Alnylam Pharmaceuticals Trading Down 8.7 %

Shares of ALNY opened at $235.56 on Tuesday. The company has a market capitalization of $30.38 billion, a PE ratio of -89.91 and a beta of 0.39. The company has a debt-to-equity ratio of 31.64, a quick ratio of 2.69 and a current ratio of 2.75. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $304.39. The stock has a fifty day moving average of $274.95 and a two-hundred day moving average of $234.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.36). The company had revenue of $500.90 million for the quarter, compared to analysts’ expectations of $532.91 million. During the same period last year, the business earned $1.15 earnings per share. The business’s revenue was down 33.3% compared to the same quarter last year. As a group, analysts forecast that Alnylam Pharmaceuticals will post -2.22 EPS for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total transaction of $4,200,000.00. Following the completion of the sale, the chief executive officer now owns 73,441 shares in the company, valued at $20,563,480. The trade was a 16.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its stake in Alnylam Pharmaceuticals by 572.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 143 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Alnylam Pharmaceuticals in the 2nd quarter worth approximately $26,000. Huntington National Bank boosted its position in Alnylam Pharmaceuticals by 91.8% during the 3rd quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 45 shares during the period. Hollencrest Capital Management bought a new position in Alnylam Pharmaceuticals during the 3rd quarter worth $29,000. Finally, Altitude Crest Partners Inc. acquired a new stake in Alnylam Pharmaceuticals in the first quarter worth $30,000. 92.97% of the stock is owned by institutional investors and hedge funds.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.