Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Sees Large Decrease in Short Interest

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) was the recipient of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 3,390,000 shares, a decline of 9.4% from the November 15th total of 3,740,000 shares. Based on an average trading volume of 761,800 shares, the short-interest ratio is currently 4.4 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating and set a $220.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday, October 11th. Wolfe Research cut shares of Alnylam Pharmaceuticals from a “peer perform” rating to an “underperform” rating in a research note on Tuesday, November 12th. Needham & Company LLC restated a “buy” rating and set a $320.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. HC Wainwright reaffirmed a “buy” rating and issued a $400.00 target price on shares of Alnylam Pharmaceuticals in a research report on Monday, November 18th. Finally, Piper Sandler restated an “overweight” rating and issued a $296.00 price target on shares of Alnylam Pharmaceuticals in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $298.09.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY opened at $245.44 on Monday. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $304.39. The company has a current ratio of 2.75, a quick ratio of 2.69 and a debt-to-equity ratio of 31.64. The firm’s fifty day simple moving average is $267.01 and its two-hundred day simple moving average is $249.57. The stock has a market capitalization of $31.66 billion, a P/E ratio of -93.68 and a beta of 0.32.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.36). The company had revenue of $500.90 million for the quarter, compared to the consensus estimate of $532.91 million. The firm’s revenue for the quarter was down 33.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.15 EPS. As a group, analysts predict that Alnylam Pharmaceuticals will post -2.21 EPS for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CMO Pushkal Garg sold 1,752 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $251.00, for a total transaction of $439,752.00. Following the sale, the chief marketing officer now directly owns 15,705 shares of the company’s stock, valued at $3,941,955. The trade was a 10.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Tolga Tanguler sold 1,469 shares of Alnylam Pharmaceuticals stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total value of $368,689.62. Following the completion of the sale, the executive vice president now directly owns 13,191 shares in the company, valued at approximately $3,310,677.18. This represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,122 shares of company stock valued at $2,540,455. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Eventide Asset Management LLC grew its holdings 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 acquiring an additional 137,333 shares in the last quarter. Los Angeles Capital Management LLC grew its position in Alnylam Pharmaceuticals by 11,433.4% during 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 buying an additional 135,829 shares during the period. AQR Capital Management LLC raised its position in Alnylam Pharmaceuticals by 92.5% in the second quarter. AQR Capital Management LLC now owns 271,619 shares of the biopharmaceutical company’s stock worth $65,862,000 after acquiring an additional 130,482 shares during the period. Deerfield Management Company L.P. Series C bought a new position in shares of Alnylam Pharmaceuticals during the 2nd quarter valued at approximately $29,111,000. Finally, Avoro Capital Advisors LLC lifted its stake in Alnylam Pharmaceuticals by 33.3% in the second quarter. Avoro Capital Advisors LLC now owns 400,000 shares of the biopharmaceutical company’s stock valued at $97,200,000 after purchasing an additional 100,000 shares during the last quarter. 92.97% of the stock is owned by hedge funds and other institutional investors.

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.