Alnylam Pharmaceuticals (NASDAQ:ALNY) Cut to “Underperform” at Wolfe Research

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

A number of other research analysts have also recently issued reports on the company. Canaccord Genuity Group lifted their price objective on Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the company a “buy” rating in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. The Goldman Sachs Group raised Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their price target for the company from $198.00 to $370.00 in a report on Friday, August 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $220.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $294.50.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY opened at $257.91 on Tuesday. The firm has a market cap of $33.27 billion, a PE ratio of -98.44 and a beta of 0.39. The firm’s 50 day moving average price is $275.18 and its 200 day moving average price is $233.68. The company has a debt-to-equity ratio of 31.64, a quick ratio of 2.69 and a current ratio of 2.75. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $304.39.

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

Insider Activity at Alnylam Pharmaceuticals

In other 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 transaction, the chief executive officer now directly owns 73,441 shares in the company, valued at $20,563,480. The trade was a 16.96 % decrease in their position. 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 company insiders.

Institutional Trading of Alnylam Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in ALNY. Allspring Global Investments Holdings LLC grew its holdings 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 worth $25,000 after purchasing an additional 143 shares during the period. Janney Montgomery Scott LLC grew its holdings in Alnylam Pharmaceuticals by 47.4% in the first quarter. Janney Montgomery Scott LLC now owns 2,775 shares of the biopharmaceutical company’s stock worth $415,000 after purchasing an additional 892 shares during the period. ProShare Advisors LLC grew its holdings in shares of Alnylam Pharmaceuticals by 10.1% during the first quarter. ProShare Advisors LLC now owns 8,827 shares of the biopharmaceutical company’s stock valued at $1,319,000 after buying an additional 809 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Alnylam Pharmaceuticals by 0.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 137,022 shares of the biopharmaceutical company’s stock valued at $20,478,000 after buying an additional 1,135 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Alnylam Pharmaceuticals by 22.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 68,790 shares of the biopharmaceutical company’s stock valued at $10,281,000 after buying an additional 12,646 shares during the last quarter. 92.97% of the stock is owned by institutional investors.

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.