Alnylam Pharmaceuticals (NASDAQ:ALNY) Trading Down 6.7% – Here’s What Happened

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) shares were down 6.7% during mid-day trading on Tuesday . The company traded as low as $240.66 and last traded at $240.95. Approximately 408,778 shares were traded during trading, a decline of 34% from the average daily volume of 618,691 shares. The stock had previously closed at $258.27.

Analyst Ratings Changes

A number of analysts have recently commented on ALNY shares. Scotiabank upped their price target on Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. Barclays increased their target price on shares of Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. TD Cowen boosted their price target on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the company a “buy” rating in a report on Monday, October 21st. Chardan Capital restated a “buy” rating and issued a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. Finally, StockNews.com lowered Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $298.61.

Alnylam Pharmaceuticals Price Performance

The company has a fifty day moving average price of $247.25 and a two-hundred day moving average price of $259.68. The company has a debt-to-equity ratio of 31.64, a quick ratio of 2.69 and a current ratio of 2.75. The company has a market cap of $32.14 billion, a P/E ratio of -95.10 and a beta of 0.34.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.36). The company had revenue of $500.90 million during the quarter, compared to analyst estimates of $532.91 million. The business’s revenue for the quarter was down 33.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.15 EPS. On average, sell-side analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -2.21 earnings per share for the current fiscal year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, CEO Yvonne Greenstreet sold 5,219 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total transaction of $1,309,864.62. Following the completion of the sale, the chief executive officer now owns 78,880 shares in the company, valued at approximately $19,797,302.40. This trade represents a 6.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Pushkal Garg sold 1,682 shares of Alnylam Pharmaceuticals stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total transaction of $422,148.36. Following the sale, the chief marketing officer now directly owns 17,457 shares of the company’s stock, valued at $4,381,357.86. The trade was a 8.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 10,122 shares of company stock worth $2,540,455. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. Eventide Asset Management LLC grew its position in shares of Alnylam Pharmaceuticals by 157.9% in the third quarter. Eventide Asset Management LLC now owns 224,333 shares of the biopharmaceutical company’s stock valued at $61,698,000 after purchasing an additional 137,333 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Alnylam Pharmaceuticals by 11,433.4% in the third quarter. Los Angeles Capital Management LLC now owns 137,017 shares of the biopharmaceutical company’s stock valued at $37,684,000 after acquiring an additional 135,829 shares during the period. AQR Capital Management LLC grew its stake in shares of Alnylam Pharmaceuticals by 92.5% in the second quarter. AQR Capital Management LLC now owns 271,619 shares of the biopharmaceutical company’s stock valued at $65,862,000 after acquiring an additional 130,482 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new position in shares of Alnylam Pharmaceuticals in the second quarter valued at about $29,111,000. Finally, Avoro Capital Advisors LLC increased its position in Alnylam Pharmaceuticals by 33.3% during the second quarter. Avoro Capital Advisors LLC now owns 400,000 shares of the biopharmaceutical company’s stock worth $97,200,000 after acquiring an additional 100,000 shares during the period. 92.97% of the stock is currently owned by institutional investors and hedge funds.

Alnylam Pharmaceuticals Company Profile

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.