Alnylam Pharmaceuticals (NASDAQ:ALNY) Trading Down 6.6% – What’s Next?

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)’s stock price traded down 6.6% during mid-day trading on Wednesday . The stock traded as low as $206.33 and last traded at $209.53. 309,166 shares were traded during mid-day trading, a decline of 62% from the average session volume of 818,996 shares. The stock had previously closed at $224.32.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ALNY. Chardan Capital reissued a “buy” rating and set a $300.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday, March 21st. Redburn Atlantic started coverage on Alnylam Pharmaceuticals in a research note on Monday, March 31st. They set a “buy” rating and a $353.00 target price for the company. William Blair reiterated an “outperform” rating on shares of Alnylam Pharmaceuticals in a research note on Friday, March 21st. Royal Bank of Canada increased their price target on Alnylam Pharmaceuticals from $310.00 to $330.00 and gave the company an “outperform” rating in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. upgraded Alnylam Pharmaceuticals from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $280.00 to $328.00 in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $315.58.

Alnylam Pharmaceuticals Trading Up 5.1 %

The firm’s 50-day simple moving average is $253.86 and its 200 day simple moving average is $258.62. The stock has a market cap of $30.93 billion, a P/E ratio of -109.57 and a beta of 0.30. The company has a current ratio of 2.78, a quick ratio of 2.71 and a debt-to-equity ratio of 15.27.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). As a group, equities research analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

Insider Activity at Alnylam Pharmaceuticals

In other news, CMO Pushkal Garg sold 52,592 shares of Alnylam Pharmaceuticals stock in a transaction on Monday, January 27th. The stock was sold at an average price of $285.00, for a total transaction of $14,988,720.00. Following the transaction, the chief marketing officer now directly owns 11,989 shares in the company, valued at approximately $3,416,865. This trade represents a 81.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kevin Joseph Fitzgerald sold 663 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $255.21, for a total value of $169,204.23. Following the completion of the sale, the executive vice president now owns 14,321 shares of the company’s stock, valued at approximately $3,654,862.41. This trade represents a 4.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,234 shares of company stock worth $19,958,097 over the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several large investors have recently made changes to their positions in ALNY. Capital World Investors lifted its stake in Alnylam Pharmaceuticals by 0.6% during the fourth quarter. Capital World Investors now owns 16,600,525 shares of the biopharmaceutical company’s stock valued at $3,906,284,000 after purchasing an additional 92,101 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Alnylam Pharmaceuticals by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 12,733,399 shares of the biopharmaceutical company’s stock valued at $2,996,296,000 after buying an additional 98,303 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Alnylam Pharmaceuticals by 32.9% during the 4th quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company’s stock valued at $1,639,767,000 after acquiring an additional 1,724,610 shares during the last quarter. Regeneron Pharmaceuticals Inc. bought a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter worth $1,045,822,000. Finally, T. Rowe Price Investment Management Inc. grew its holdings in shares of Alnylam Pharmaceuticals by 39.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company’s stock worth $1,031,705,000 after acquiring an additional 1,245,195 shares during the last quarter. Institutional investors own 92.97% of the company’s stock.

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.