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

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) saw a large decrease in short interest during the month of 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 days-to-cover ratio is currently 4.6 days.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY stock opened at $235.56 on Friday. The company has a market capitalization of $30.38 billion, a P/E ratio of -89.91 and a beta of 0.39. The company has a current ratio of 2.75, a quick ratio of 2.69 and a debt-to-equity ratio of 31.64. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $304.39. The stock has a 50 day moving average of $274.95 and a two-hundred day moving average of $234.30.

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

Analysts Set New Price Targets

ALNY has been the topic of a number of research reports. Citigroup upped their target price on Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the company a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on shares of Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Chardan Capital reissued a “buy” rating and set a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. Royal Bank of Canada restated an “outperform” rating and set a $300.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, November 1st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $294.50.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, CEO Yvonne Greenstreet sold 15,000 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total value of $4,200,000.00. Following the completion of the sale, the chief executive officer now owns 73,441 shares in the company, valued at $20,563,480. This represents a 16.96 % decrease in their ownership of the stock. 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 owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALNY. Geode Capital Management LLC grew its stake in shares of Alnylam Pharmaceuticals by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,147,203 shares of the biopharmaceutical company’s stock valued at $589,209,000 after purchasing an additional 66,928 shares during the period. Prestige Wealth Management Group LLC grew its position in Alnylam Pharmaceuticals by 65.8% in the third quarter. Prestige Wealth Management Group LLC now owns 451 shares of the biopharmaceutical company’s stock valued at $124,000 after acquiring an additional 179 shares during the period. Vestcor Inc raised its stake in Alnylam Pharmaceuticals by 20.6% during the third quarter. Vestcor Inc now owns 2,458 shares of the biopharmaceutical company’s stock worth $676,000 after acquiring an additional 420 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Alnylam Pharmaceuticals by 7.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 85,445 shares of the biopharmaceutical company’s stock valued at $23,500,000 after acquiring an additional 6,148 shares during the period. Finally, MML Investors Services LLC boosted its stake in shares of Alnylam Pharmaceuticals by 5.7% in the 3rd quarter. MML Investors Services LLC now owns 3,086 shares of the biopharmaceutical company’s stock valued at $849,000 after purchasing an additional 166 shares in the last quarter. 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.