Alnylam Pharmaceuticals (NASDAQ:ALNY) Sets New 52-Week Low After Analyst Downgrade

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) reached a new 52-week low during trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $420.00 to $400.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Alnylam Pharmaceuticals traded as low as $264.21 and last traded at $266.99, with a volume of 1104594 shares changing hands. The stock had previously closed at $271.37.

A number of other brokerages also recently issued reports on ALNY. Chardan Capital reissued a “buy” rating and issued a $425.00 price target on shares of Alnylam Pharmaceuticals in a report on Wednesday, March 25th. Morgan Stanley boosted their price objective on shares of Alnylam Pharmaceuticals from $370.00 to $400.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. Citigroup initiated coverage on shares of Alnylam Pharmaceuticals in a report on Tuesday, May 19th. They set a “buy” rating and a $380.00 target price on the stock. Weiss Ratings raised shares of Alnylam Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Finally, Bank of America reduced their price target on shares of Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $452.13.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of the business’s 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 completion of the transaction, the director owned 1,582 shares of the company’s stock, valued at $473,302.76. The trade was a 70.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. iA Global Asset Management Inc. grew its position in Alnylam Pharmaceuticals by 979.5% during the fourth quarter. iA Global Asset Management Inc. now owns 17,780 shares of the biopharmaceutical company’s stock valued at $7,070,000 after acquiring an additional 16,133 shares during the last quarter. Perpetual Ltd purchased a new position in shares of Alnylam Pharmaceuticals during the fourth quarter worth approximately $2,004,000. Hussman Strategic Advisors Inc. bought a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter worth approximately $2,505,000. GF Fund Management CO. LTD. boosted its stake in shares of Alnylam Pharmaceuticals by 989.1% in the 4th quarter. GF Fund Management CO. LTD. now owns 30,462 shares of the biopharmaceutical company’s stock valued at $12,113,000 after purchasing an additional 27,665 shares in the last quarter. Finally, Brighton Jones LLC purchased a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter valued at $243,000. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Stock Performance

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 company’s fifty day moving average is $292.22 and its 200 day moving average is $316.64. The company has a market cap of $36.28 billion, a P/E ratio of 74.25 and a beta of 0.27.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $1.12. Alnylam Pharmaceuticals had a net margin of 11.72% and a return on equity of 85.76%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the company earned ($0.44) EPS. The firm’s revenue was up 96.4% compared to the same quarter last year. As a group, equities analysts predict that Alnylam Pharmaceuticals, Inc. will post 7.35 earnings per share for the current fiscal year.

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.