Alnylam Pharmaceuticals (NASDAQ:ALNY) Trading Up 7.1% – What’s Next?

Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) shot up 7.1% on Monday . The company traded as high as $257.06 and last traded at $254.89. 351,702 shares changed hands during trading, a decline of 32% from the average session volume of 515,574 shares. The stock had previously closed at $237.98.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ALNY shares. StockNews.com lowered Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. TD Cowen lifted their price target on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Canaccord Genuity Group boosted their price target on shares of Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Scotiabank lifted their target price 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, Royal Bank of Canada reiterated an “outperform” rating and set a $300.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $298.61.

Alnylam Pharmaceuticals Stock Up 4.4 %

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 company has a market capitalization of $32.38 billion, a P/E ratio of -95.81 and a beta of 0.34. The firm’s 50 day moving average price is $248.15 and its two-hundred day moving average price is $259.81.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results 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 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 firm earned $1.15 EPS. The company’s revenue was down 33.3% on a year-over-year basis. Equities research analysts forecast that Alnylam Pharmaceuticals, Inc. will post -2.21 EPS for the current year.

Insider Activity at Alnylam Pharmaceuticals

In related news, CMO Pushkal Garg sold 1,682 shares of Alnylam Pharmaceuticals stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total transaction of $422,148.36. Following the completion of the transaction, the chief marketing officer now owns 17,457 shares in the company, valued at approximately $4,381,357.86. This trade represents a 8.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Tolga Tanguler sold 1,469 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total value of $368,689.62. Following the completion of the sale, the executive vice president now owns 13,191 shares in the company, valued at $3,310,677.18. This represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,122 shares of company stock valued at $2,540,455. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALNY. Huntington National Bank lifted its stake in shares of Alnylam Pharmaceuticals by 91.8% during the 3rd quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 45 shares during the last quarter. Hollencrest Capital Management acquired a new position in Alnylam Pharmaceuticals in the 3rd quarter valued at about $29,000. Ashton Thomas Private Wealth LLC acquired a new stake in Alnylam Pharmaceuticals during the second quarter worth approximately $26,000. Washington Trust Advisors Inc. acquired a new stake in Alnylam Pharmaceuticals during the third quarter worth approximately $42,000. Finally, True Wealth Design LLC boosted its holdings in shares of Alnylam Pharmaceuticals by 15,300.0% during the third quarter. True Wealth Design LLC now owns 154 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 153 shares during the period. 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.