Alnylam Pharmaceuticals (NASDAQ:ALNY) Sets New 1-Year Low – Here’s What Happened

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) reached a new 52-week low during trading on Thursday . The stock traded as low as $275.79 and last traded at $278.6750, with a volume of 163558 shares traded. The stock had previously closed at $282.72.

Analyst Upgrades and Downgrades

Several research firms recently commented on ALNY. Weiss Ratings upgraded Alnylam Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Citigroup began coverage on Alnylam Pharmaceuticals in a report on Tuesday, May 19th. They issued a “buy” rating and a $380.00 price objective for the company. Chardan Capital reissued a “buy” rating and issued a $425.00 target price on shares of Alnylam Pharmaceuticals in a research report on Wednesday, March 25th. Truist Financial dropped their target price on Alnylam Pharmaceuticals from $515.00 to $505.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $330.00 price objective (down from $522.00) on shares of Alnylam Pharmaceuticals in a research report on Monday, March 16th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $463.13.

Alnylam Pharmaceuticals Trading Down 1.9%

The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94. The firm has a market cap of $37.01 billion, a P/E ratio of 75.72 and a beta of 0.29. The stock has a 50 day simple moving average of $302.00 and a 200-day simple moving average of $339.75.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $1.12. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The company’s quarterly revenue was up 96.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.44) EPS. On average, equities research analysts expect that Alnylam Pharmaceuticals, Inc. will post 7.47 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Melissa Mclaughlin sold 2,286 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $330.42, for a total transaction of $755,340.12. Following the completion of the transaction, the insider directly owned 9,443 shares in the company, valued at approximately $3,120,156.06. This represents a 19.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director David E. I. Pyott sold 3,830 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $299.18, for a total value of $1,145,859.40. Following the transaction, the director owned 1,582 shares of the company’s stock, valued at $473,302.76. This represents a 70.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,740 shares of company stock valued at $2,420,214 over the last quarter. Corporate insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Large investors have recently modified their holdings of the stock. iA Global Asset Management Inc. increased its position in shares of Alnylam Pharmaceuticals by 979.5% during the 4th quarter. iA Global Asset Management Inc. now owns 17,780 shares of the biopharmaceutical company’s stock valued at $7,070,000 after purchasing an additional 16,133 shares during the last quarter. Perpetual Ltd purchased a new position in Alnylam Pharmaceuticals during the 4th quarter valued at $2,004,000. Linden Advisors LP purchased a new position in Alnylam Pharmaceuticals during the 3rd quarter valued at $6,550,000. WINTON GROUP Ltd boosted its holdings in Alnylam Pharmaceuticals by 92.5% during the 3rd quarter. WINTON GROUP Ltd now owns 6,800 shares of the biopharmaceutical company’s stock valued at $3,101,000 after acquiring an additional 3,267 shares during the period. Finally, Elo Mutual Pension Insurance Co boosted its holdings in Alnylam Pharmaceuticals by 26.5% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 17,865 shares of the biopharmaceutical company’s stock valued at $8,146,000 after acquiring an additional 3,738 shares during the period. Institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc (NASDAQ: ALNY) is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.