Alnylam Pharmaceuticals Inc. (ALNY) Cut to “Equal Weight” at Morgan Stanley
Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) was downgraded by research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report released on Friday.
Other analysts have also issued research reports about the company. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Alnylam Pharmaceuticals in a research report on Sunday, June 12th. Cowen and Company reaffirmed a “buy” rating on shares of Alnylam Pharmaceuticals in a research report on Sunday, June 12th. Leerink Swann reaffirmed a “buy” rating on shares of Alnylam Pharmaceuticals in a research report on Sunday, June 12th. Barclays PLC lowered Alnylam Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $85.00 to $50.00 in a research report on Thursday. Finally, Goldman Sachs Group Inc. cut their price objective on Alnylam Pharmaceuticals from $65.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Alnylam Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $89.31.
Shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) opened at 36.21 on Friday. The stock has a 50 day moving average price of $71.80 and a 200-day moving average price of $66.24. Alnylam Pharmaceuticals has a 52-week low of $35.31 and a 52-week high of $110.75. The firm’s market cap is $3.10 billion.
Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.05) earnings per share for the quarter, topping analysts’ consensus estimates 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 in the prior year, the company earned ($0.85) earnings per share. The company’s revenue was up .2% on a year-over-year basis. On average, equities analysts anticipate that Alnylam Pharmaceuticals will post ($4.68) EPS for the current fiscal year.
In other news, CEO John Maraganore sold 30,151 shares of the stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $64.69, for a total transaction of $1,950,468.19. Following the completion of the sale, the chief executive officer now owns 148,465 shares in the company, valued at $9,604,200.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.00% of the company’s stock.
A number of large investors have recently made changes to their positions in ALNY. Nisa Investment Advisors LLC purchased a new stake in shares of Alnylam Pharmaceuticals during the second quarter worth approximately $128,000. Seven Eight Capital LLC increased its stake in shares of Alnylam Pharmaceuticals by 200.0% in the first quarter. Seven Eight Capital LLC now owns 2,700 shares of the biopharmaceutical company’s stock worth $169,000 after buying an additional 1,800 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Alnylam Pharmaceuticals during the second quarter worth approximately $175,000. Bank of Montreal Can purchased a new stake in shares of Alnylam Pharmaceuticals during the second quarter worth approximately $193,000. Finally, BlueMountain Capital Management LLC increased its stake in shares of Alnylam Pharmaceuticals by 89.3% in the first quarter. BlueMountain Capital Management LLC now owns 3,179 shares of the biopharmaceutical company’s stock worth $200,000 after buying an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.
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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