Alnylam Pharmaceuticals (NASDAQ:ALNY) Shares Down 5% – Here’s What Happened

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) fell 5% on Monday . The stock traded as low as $285.72 and last traded at $288.0490. 376,737 shares traded hands during trading, a decline of 70% from the average session volume of 1,240,858 shares. The stock had previously closed at $303.05.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ALNY. Royal Bank Of Canada lowered their price target on Alnylam Pharmaceuticals from $450.00 to $445.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Freedom Capital raised Alnylam Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 17th. Chardan Capital reissued a “buy” rating and set a $425.00 price target on shares of Alnylam Pharmaceuticals in a report on Wednesday, March 25th. Wells Fargo & Company increased their price target on Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Finally, Truist Financial lowered their price target on Alnylam Pharmaceuticals from $515.00 to $505.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Two investment 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 data from MarketBeat, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $463.13.

Alnylam Pharmaceuticals Trading Up 1.9%

The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.06 and a current ratio of 3.13. The stock has a fifty day moving average of $306.55 and a 200 day moving average of $346.23. The company has a market capitalization of $39.74 billion, a P/E ratio of 81.34 and a beta of 0.29.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly 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 business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The business’s quarterly revenue was up 96.4% on a year-over-year basis. During the same period last year, the firm earned ($0.44) earnings per share. As a group, equities research analysts anticipate that Alnylam Pharmaceuticals, Inc. will post 7.47 EPS for the current fiscal year.

Insider Transactions at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, insider Melissa Mclaughlin sold 2,286 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $330.42, for a total transaction of $755,340.12. Following the sale, the insider directly owned 9,443 shares of the company’s stock, valued at $3,120,156.06. This trade represents a 19.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 firm’s stock in a transaction dated 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 sale, the director directly owned 1,582 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 7,740 shares of company stock worth $2,420,214. Insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Large investors have recently made changes to their positions in the company. MV Capital Management Inc. bought a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter worth about $25,000. Caitong International Asset Management Co. Ltd purchased a new position in Alnylam Pharmaceuticals in the third quarter worth about $29,000. HM Payson & Co. purchased a new position in Alnylam Pharmaceuticals in the fourth quarter worth about $27,000. Ameriflex Group Inc. purchased a new position in Alnylam Pharmaceuticals in the third quarter worth about $32,000. Finally, Golden State Wealth Management LLC grew its position in Alnylam Pharmaceuticals by 100.0% in the fourth quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 36 shares in the last quarter. 92.97% of the stock is owned by institutional investors.

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.