Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Short Interest Down 23.6% in October

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 3,700,000 shares, a decrease of 23.6% from the October 15th total of 4,840,000 shares. Based on an average trading volume of 812,200 shares, the short-interest ratio is presently 4.6 days.

Insider Transactions at Alnylam Pharmaceuticals

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

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several hedge funds have recently made changes to their positions in ALNY. Allspring Global Investments Holdings LLC raised its position in Alnylam Pharmaceuticals by 572.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 143 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Alnylam Pharmaceuticals during the second quarter worth $26,000. Huntington National Bank raised its holdings in shares of Alnylam Pharmaceuticals by 91.8% during the third quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 45 shares during the last quarter. Hollencrest Capital Management purchased a new stake in Alnylam Pharmaceuticals in the third quarter valued at $29,000. Finally, Altitude Crest Partners Inc. purchased a new stake in Alnylam Pharmaceuticals in the first quarter valued at $30,000. 92.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group raised Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price target for the company from $198.00 to $370.00 in a report on Friday, August 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. HC Wainwright reaffirmed a “buy” rating and set a $400.00 price target on shares of Alnylam Pharmaceuticals in a research report on Monday, November 4th. Scotiabank raised their price objective on shares of Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st. Finally, Citigroup boosted their target price on shares of Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $294.50.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY opened at $264.60 on Thursday. 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 has a market cap of $34.13 billion, a PE ratio of -100.99 and a beta of 0.39. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $304.39. The stock has a fifty day moving average price of $275.05 and a 200-day moving average price of $233.51.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted 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 analysts’ expectations of $532.91 million. The firm’s quarterly revenue was down 33.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.15 EPS. Equities research analysts predict that Alnylam Pharmaceuticals will post -2.22 earnings per share for the current fiscal year.

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.