Alnylam Pharmaceuticals (NASDAQ:ALNY) Downgraded by Wolfe Research to Underperform

Wolfe Research lowered shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) from a peer perform rating to an underperform rating in a research report released on Tuesday morning, MarketBeat Ratings reports.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $300.00 price objective on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $220.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, October 11th. Bank of America raised their price objective on shares of Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Chardan Capital restated a “buy” rating and issued a $300.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. Finally, HC Wainwright reiterated a “buy” rating and set a $400.00 price target on shares of Alnylam Pharmaceuticals in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $294.50.

Alnylam Pharmaceuticals Stock Down 8.7 %

Shares of NASDAQ:ALNY opened at $235.56 on Tuesday. The company has a quick ratio of 2.69, a current ratio of 2.75 and a debt-to-equity ratio of 31.64. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $304.39. The stock has a market cap of $30.38 billion, a price-to-earnings ratio of -89.91 and a beta of 0.39. The firm’s 50 day moving average price is $274.95 and its 200 day moving average price is $234.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released 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 analyst estimates of $532.91 million. The company’s revenue was down 33.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.15 earnings per share. As a group, equities research analysts predict that Alnylam Pharmaceuticals will post -2.22 earnings per share for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals 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 transaction, the chief executive officer now owns 73,441 shares in the company, valued at approximately $20,563,480. This represents a 16.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Prestige Wealth Management Group LLC lifted its stake in shares of 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 purchasing an additional 179 shares during the period. Vestcor Inc lifted its position in shares of Alnylam Pharmaceuticals by 20.6% during the 3rd quarter. Vestcor Inc now owns 2,458 shares of the biopharmaceutical company’s stock valued at $676,000 after acquiring an additional 420 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Alnylam Pharmaceuticals by 7.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 85,445 shares of the biopharmaceutical company’s stock worth $23,500,000 after acquiring an additional 6,148 shares in the last quarter. MML Investors Services LLC grew its holdings 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 worth $849,000 after acquiring an additional 166 shares during the period. Finally, Orion Portfolio Solutions LLC increased its stake in Alnylam Pharmaceuticals by 14.8% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 3,541 shares of the biopharmaceutical company’s stock valued at $974,000 after purchasing an additional 457 shares in the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

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.