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

Alnylam Pharmaceuticals (NASDAQ:ALNY) was downgraded by stock analysts at Wolfe Research from a “peer perform” rating to an “underperform” rating in a research note issued on Tuesday, Marketbeat.com reports.

A number of other equities analysts have also recently issued reports on ALNY. Royal Bank of Canada restated an “outperform” rating and issued a $300.00 target price 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 stock from $198.00 to $370.00 in a research note on Friday, August 16th. Chardan Capital reaffirmed a “buy” rating and set a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday, November 1st. Canaccord Genuity Group raised their target price on shares of Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Scotiabank boosted their price target on shares of Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $294.50.

Alnylam Pharmaceuticals Price Performance

Shares of Alnylam Pharmaceuticals stock opened at $264.60 on Tuesday. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week 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 stock has a market cap of $34.13 billion, a PE ratio of -100.99 and a beta of 0.39. The company’s 50-day moving average price is $275.05 and its two-hundred day moving average price is $233.51.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its 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 for the quarter, compared to analyst estimates of $532.91 million. Alnylam Pharmaceuticals’s quarterly revenue was down 33.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.15 EPS. As a group, sell-side analysts anticipate that Alnylam Pharmaceuticals will post -2.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total transaction of $4,200,000.00. Following the transaction, the chief executive officer now directly owns 73,441 shares in the company, valued at $20,563,480. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Plato Investment Management Ltd lifted its position in Alnylam Pharmaceuticals by 2,666.3% during the 1st quarter. Plato Investment Management Ltd now owns 4,509 shares of the biopharmaceutical company’s stock worth $674,000 after acquiring an additional 4,346 shares during the last quarter. Diversified Trust Co bought a new stake in Alnylam Pharmaceuticals during the 2nd quarter valued at approximately $1,210,000. Breakwater Capital Group acquired a new stake in Alnylam Pharmaceuticals in the 2nd quarter valued at approximately $249,000. Sanctuary Advisors LLC acquired a new position in shares of Alnylam Pharmaceuticals during the second quarter worth approximately $578,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Alnylam Pharmaceuticals by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock valued at $550,837,000 after acquiring an additional 201,784 shares during the period. Institutional investors 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.