Alnylam Pharmaceuticals (NASDAQ:ALNY) Shares Gap Down – Here’s What Happened

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $330.34, but opened at $319.48. Alnylam Pharmaceuticals shares last traded at $314.2240, with a volume of 310,947 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on Alnylam Pharmaceuticals from $479.00 to $376.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 20th. Truist Financial decreased their target price on Alnylam Pharmaceuticals from $535.00 to $530.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Canaccord Genuity Group increased their target price on Alnylam Pharmaceuticals from $415.00 to $429.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Morgan Stanley decreased their target price on Alnylam Pharmaceuticals from $495.00 to $408.00 and set an “equal weight” rating for the company in a research report on Friday, January 30th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $472.00 target price on shares of Alnylam Pharmaceuticals in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $473.87.

Alnylam Pharmaceuticals Price Performance

The company has a current ratio of 2.76, a quick ratio of 2.71 and a debt-to-equity ratio of 1.28. The company has a market cap of $41.98 billion, a PE ratio of 185.13 and a beta of 0.39. The firm has a 50 day moving average of $326.15 and a two-hundred day moving average of $393.92.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, February 12th. The biopharmaceutical company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.18). The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Alnylam Pharmaceuticals had a return on equity of 69.02% and a net margin of 6.43%.The business’s quarterly revenue was up 84.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.65) EPS. Research analysts predict that Alnylam Pharmaceuticals, Inc. will post -1.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, EVP Kevin Joseph Fitzgerald sold 1,652 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $319.73, for a total transaction of $528,193.96. Following the sale, the executive vice president directly owned 21,860 shares in the company, valued at approximately $6,989,297.80. This trade represents a 7.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey V. Poulton sold 2,206 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $327.65, for a total value of $722,795.90. Following the sale, the executive vice president owned 64,273 shares in the company, valued at approximately $21,059,048.45. This represents a 3.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 53,923 shares of company stock worth $18,072,087. Insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. OFI Invest Asset Management boosted its stake in shares of Alnylam Pharmaceuticals by 5.8% in the 3rd quarter. OFI Invest Asset Management now owns 403 shares of the biopharmaceutical company’s stock worth $184,000 after buying an additional 22 shares during the last quarter. Howard Capital Management Inc. boosted its stake in shares of Alnylam Pharmaceuticals by 2.9% in the 3rd quarter. Howard Capital Management Inc. now owns 854 shares of the biopharmaceutical company’s stock worth $389,000 after buying an additional 24 shares during the last quarter. Frank Rimerman Advisors LLC boosted its stake in shares of Alnylam Pharmaceuticals by 2.0% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 1,251 shares of the biopharmaceutical company’s stock worth $570,000 after buying an additional 24 shares during the last quarter. Coastal Bridge Advisors LLC boosted its stake in shares of Alnylam Pharmaceuticals by 2.3% in the 3rd quarter. Coastal Bridge Advisors LLC now owns 1,097 shares of the biopharmaceutical company’s stock worth $500,000 after buying an additional 25 shares during the last quarter. Finally, Meridian Financial Advisors LLC boosted its stake in shares of Alnylam Pharmaceuticals by 3.5% in the 3rd quarter. Meridian Financial Advisors LLC now owns 828 shares of the biopharmaceutical company’s stock worth $378,000 after buying an additional 28 shares during the last quarter. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

About Alnylam Pharmaceuticals

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.