Alnylam Pharmaceuticals Inc. (ALNY) Lowered to Equal Weight at Barclays PLC
Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) was downgraded by analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating in a research report issued on Thursday. They presently have a $50.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $85.00. Barclays PLC’s price target suggests a potential downside of 28.88% from the company’s previous close.
A number of other research analysts also recently issued reports on ALNY. Jefferies Group restated a “buy” rating and set a $80.00 price target (down previously from $119.00) on shares of Alnylam Pharmaceuticals in a research note on Wednesday, June 8th. FBR & Co restated a “buy” rating on shares of Alnylam Pharmaceuticals in a research note on Friday, June 10th. Needham & Company LLC restated a “buy” rating on shares of Alnylam Pharmaceuticals in a research note on Monday, June 13th. Cowen and Company restated a “buy” rating on shares of Alnylam Pharmaceuticals in a research note on Sunday, June 12th. Finally, Leerink Swann restated a “buy” rating on shares of Alnylam Pharmaceuticals in a research note on Sunday, June 12th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $106.13.
Shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) opened at 70.30 on Thursday. The stock’s market cap is $6.03 billion. Alnylam Pharmaceuticals has a 12 month low of $49.96 and a 12 month high of $110.75. The company has a 50-day moving average price of $72.86 and a 200-day moving average price of $66.46.
Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.05) earnings per share for the quarter, topping the consensus estimate of ($1.24) by $0.19. Alnylam Pharmaceuticals had a negative return on equity of 29.60% and a negative net margin of 1,204.91%. The business had revenue of $8.70 million for the quarter, compared to analyst estimates of $8.09 million. During the same quarter last year, the company earned ($0.85) EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts expect that Alnylam Pharmaceuticals will post ($4.64) EPS for the current fiscal year.
In related news, CEO John Maraganore sold 30,151 shares of Alnylam Pharmaceuticals stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $64.69, for a total transaction of $1,950,468.19. Following the completion of the transaction, the chief executive officer now directly owns 148,465 shares of the company’s stock, valued at $9,604,200.85. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of ALNY. Slate Path Capital LP boosted its position in shares of Alnylam Pharmaceuticals by 56.6% in the first quarter. Slate Path Capital LP now owns 1,135,000 shares of the biopharmaceutical company’s stock valued at $71,244,000 after buying an additional 410,000 shares in the last quarter. State Street Corp boosted its position in shares of Alnylam Pharmaceuticals by 15.7% in the first quarter. State Street Corp now owns 1,936,520 shares of the biopharmaceutical company’s stock valued at $121,553,000 after buying an additional 262,783 shares in the last quarter. Bridger Management LLC purchased a new position in shares of Alnylam Pharmaceuticals during the first quarter valued at about $50,041,000. Turner Investments L.P. purchased a new position in shares of Alnylam Pharmaceuticals during the second quarter valued at about $575,000. Finally, Geode Capital Management LLC boosted its position in shares of Alnylam Pharmaceuticals by 7.1% in the first quarter. Geode Capital Management LLC now owns 480,181 shares of the biopharmaceutical company’s stock valued at $30,123,000 after buying an additional 31,627 shares in the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.
About Alnylam Pharmaceuticals
Alnylam Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in developing therapeutics based on ribonucleic acid (RNA) interference (RNAi). It is focused on the use of its N-acetylgalactosamine (GalNAc)-conjugate strategy for delivery of small interfering RNAs (siRNAs). Its pipeline of investigational RNAi therapeutics focuses in three Strategic Therapeutic Areas (STArs): Genetic Medicines; Cardio-Metabolic Disease, and Hepatic Infectious Disease.
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