Alnylam Pharmaceuticals (NASDAQ:ALNY) Shares Down 6.7% – Here’s Why

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)’s stock price traded down 6.7% during trading on Tuesday . The company traded as low as $240.66 and last traded at $240.95. 408,778 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 618,691 shares. The stock had previously closed at $258.27.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ALNY shares. Canaccord Genuity Group lifted their target price on Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Scotiabank boosted their price objective on shares of Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the company a “sector outperform” rating in a research report on Friday, November 1st. Cantor Fitzgerald restated a “neutral” rating and issued a $220.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, October 11th. Barclays upped their price target on shares of Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, TD Cowen raised their price objective on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $298.61.

Alnylam Pharmaceuticals Stock Performance

The firm has a 50-day moving average of $248.64 and a 200-day moving average of $259.83. 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 capitalization of $31.17 billion, a price-to-earnings ratio of -92.25 and a beta of 0.34.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.36). The company had revenue of $500.90 million for the quarter, compared to the consensus estimate of $532.91 million. During the same quarter in the previous year, the business posted $1.15 EPS. The company’s revenue for the quarter was down 33.3% compared to the same quarter last year. As a group, sell-side analysts predict that Alnylam Pharmaceuticals, Inc. will post -2.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Yvonne Greenstreet sold 5,219 shares of Alnylam Pharmaceuticals stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total value of $1,309,864.62. Following the sale, the chief executive officer now owns 78,880 shares in the company, valued at $19,797,302.40. This trade represents a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Pushkal Garg sold 1,682 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total value of $422,148.36. Following the completion of the sale, the chief marketing officer now directly owns 17,457 shares in the company, valued at $4,381,357.86. This represents a 8.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,122 shares of company stock valued at $2,540,455. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALNY. Burney Co. raised its position in shares of Alnylam Pharmaceuticals by 22.9% in the fourth quarter. Burney Co. now owns 25,738 shares of the biopharmaceutical company’s stock valued at $6,056,000 after buying an additional 4,791 shares during the last quarter. Park Avenue Securities LLC lifted its position in Alnylam Pharmaceuticals by 64.8% during the fourth quarter. Park Avenue Securities LLC now owns 1,368 shares of the biopharmaceutical company’s stock worth $322,000 after buying an additional 538 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in 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 buying an additional 2,285 shares in the last quarter. Pallas Capital Advisors LLC raised its holdings in shares of Alnylam Pharmaceuticals by 2.6% during the 4th quarter. Pallas Capital Advisors LLC now owns 3,408 shares of the biopharmaceutical company’s stock worth $802,000 after acquiring an additional 87 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Alnylam Pharmaceuticals by 2.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 2,650 shares of the biopharmaceutical company’s stock valued at $624,000 after acquiring an additional 63 shares during the last quarter. Hedge funds and other 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.