StockNews.com Downgrades Alnylam Pharmaceuticals (NASDAQ:ALNY) to Hold

Alnylam Pharmaceuticals (NASDAQ:ALNY) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

Several other research firms also recently commented on ALNY. Chardan Capital restated a “buy” rating and set a $300.00 price objective on shares of Alnylam Pharmaceuticals in a report on Wednesday, February 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $310.00 price target on shares of Alnylam Pharmaceuticals in a report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price target on Alnylam Pharmaceuticals from $272.00 to $280.00 and gave the company a “neutral” rating in a report on Tuesday, March 11th. Morgan Stanley lifted their price target on Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Finally, Canaccord Genuity Group lifted their price target on Alnylam Pharmaceuticals from $384.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $310.22.

Alnylam Pharmaceuticals Trading Up 11.8 %

ALNY opened at $283.34 on Friday. The stock’s fifty day moving average is $257.16 and its two-hundred day moving average is $259.69. The company has a market capitalization of $36.68 billion, a P/E ratio of -130.57 and a beta of 0.39. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $304.39. The company has a quick ratio of 2.71, a current ratio of 2.78 and a debt-to-equity ratio of 15.27.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.03). Analysts forecast that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Jeffrey V. Poulton sold 967 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $255.17, for a total value of $246,749.39. Following the completion of the transaction, the chief financial officer now owns 32,786 shares of the company’s stock, valued at $8,366,003.62. The trade was a 2.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Pushkal Garg sold 52,592 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $285.00, for a total value of $14,988,720.00. Following the completion of the transaction, the chief marketing officer now directly owns 11,989 shares of the company’s stock, valued at approximately $3,416,865. This trade represents a 81.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,234 shares of company stock valued at $19,958,097. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Jennison Associates LLC acquired a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at about $61,160,000. Strategic Financial Concepts LLC purchased a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at about $41,529,000. Truist Financial Corp increased its stake in shares of Alnylam Pharmaceuticals by 136.6% in the 4th quarter. Truist Financial Corp now owns 4,398 shares of the biopharmaceutical company’s stock valued at $1,035,000 after purchasing an additional 2,539 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Alnylam Pharmaceuticals by 3.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 286,703 shares of the biopharmaceutical company’s stock valued at $67,464,000 after purchasing an additional 8,462 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Alnylam Pharmaceuticals by 13.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 19,918 shares of the biopharmaceutical company’s stock valued at $4,687,000 after purchasing an additional 2,285 shares in the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

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.