Jefferies Group Cuts Alnylam Pharmaceuticals Inc. (ALNY) Price Target to $58.00
Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) had its price objective dropped by stock analysts at Jefferies Group from $86.00 to $58.00 in a report released on Thursday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Jefferies Group’s target price points to a potential downside of 17.50% from the stock’s current price.
ALNY has been the subject of a number of other research reports. Janney Montgomery Scott initiated coverage on Alnylam Pharmaceuticals in a research note on Wednesday, September 28th. They issued a “neutral” rating and a $74.00 target price for the company. Credit Suisse Group AG set a $145.00 target price on Alnylam Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, September 30th. FBR & Co reaffirmed a “buy” rating on shares of Alnylam Pharmaceuticals in a report on Thursday, September 8th. Leerink Swann reaffirmed a “buy” rating on shares of Alnylam Pharmaceuticals in a report on Monday, September 26th. Finally, Zacks Investment Research raised Alnylam Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, June 21st. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $100.27.
Shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) opened at 70.30 on Thursday. Alnylam Pharmaceuticals has a 12 month low of $49.96 and a 12 month high of $110.75. The company’s 50 day moving average price is $72.86 and its 200-day moving average price is $66.46. The firm’s market capitalization is $6.03 billion.
Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.24) by $0.19. The company earned $8.70 million during the quarter, compared to analyst estimates of $8.09 million. Alnylam Pharmaceuticals had a negative return on equity of 29.60% and a negative net margin of 1,204.91%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.85) earnings per share. On average, equities analysts predict that Alnylam Pharmaceuticals will post ($4.64) earnings per share for the current fiscal year.
In other news, CEO John Maraganore sold 30,151 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $64.69, for a total value of $1,950,468.19. Following the transaction, the chief executive officer now directly owns 148,465 shares of the company’s stock, valued at approximately $9,604,200.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its position in Alnylam Pharmaceuticals by 12.1% in the first quarter. Wellington Management Group LLP now owns 11,945,607 shares of the biopharmaceutical company’s stock valued at $749,826,000 after buying an additional 1,288,123 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Alnylam Pharmaceuticals by 3.5% in the second quarter. Vanguard Group Inc. now owns 5,385,509 shares of the biopharmaceutical company’s stock valued at $298,843,000 after buying an additional 182,614 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of Alnylam Pharmaceuticals by 0.3% in the second quarter. Baillie Gifford & Co. now owns 3,390,252 shares of the biopharmaceutical company’s stock valued at $188,125,000 after buying an additional 10,317 shares during the last quarter. Dodge & Cox acquired a new stake in shares of Alnylam Pharmaceuticals during the second quarter valued at approximately $139,650,000. Finally, State Street Corp boosted its stake in shares of Alnylam Pharmaceuticals by 13.4% in the second quarter. State Street Corp now owns 2,195,504 shares of the biopharmaceutical company’s stock valued at $121,832,000 after buying an additional 258,984 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.
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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