Alnylam Pharmaceuticals Inc. (ALNY) Downgraded by Needham & Company LLC to Buy
Needham & Company LLC downgraded shares of Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) to a buy rating in a research report report published on Thursday morning. Needham & Company LLC currently has $137.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $152.00.
A number of other analysts have also issued reports on the company. Chardan Capital boosted their price target on Alnylam Pharmaceuticals from $77.00 to $115.00 and gave the company a buy rating in a report on Thursday. JPMorgan Chase & Co. downgraded shares of Alnylam Pharmaceuticals from an overweight rating to a neutral rating in a research note on Thursday. Leerink Swann downgraded shares of Alnylam Pharmaceuticals from an outperform rating to a market perform rating and reduced their price objective for the stock from $107.00 to $40.00 in a research note on Thursday. Barclays PLC downgraded shares of Alnylam Pharmaceuticals from an overweight rating to an equal weight rating and reduced their price objective for the stock from $85.00 to $50.00 in a research note on Thursday. Finally, Credit Suisse Group AG set a $145.00 price objective on shares of Alnylam Pharmaceuticals and gave the stock a buy rating in a research note on Friday, September 30th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Alnylam Pharmaceuticals has an average rating of Buy and a consensus target price of $85.75.
Shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) traded down 4.69% during mid-day trading on Thursday, reaching $34.51. The company’s stock had a trading volume of 2,828,885 shares. Alnylam Pharmaceuticals has a one year low of $34.18 and a one year high of $110.75. The firm’s market cap is $2.96 billion. The firm’s 50 day moving average is $71.80 and its 200 day moving average is $66.24.
Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.24) by $0.19. The firm 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%. Alnylam Pharmaceuticals’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.85) earnings per share. On average, equities analysts anticipate that Alnylam Pharmaceuticals will post ($4.68) earnings per share for the current fiscal year.
In related news, CEO John Maraganore sold 30,151 shares of the company’s stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.00% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in ALNY. Slate Path Capital LP increased its position in 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 during the last quarter. State Street Corp increased its position in 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 during the last quarter. Bridger Management LLC purchased a new position in Alnylam Pharmaceuticals during the first quarter valued at about $50,041,000. Schroder Investment Management Group increased its position in Alnylam Pharmaceuticals by 235.0% in the second quarter. Schroder Investment Management Group now owns 18,592 shares of the biopharmaceutical company’s stock valued at $1,032,000 after buying an additional 13,042 shares during the last quarter. Finally, Turner Investments L.P. purchased a new position in Alnylam Pharmaceuticals during the second quarter valued at about $575,000. 85.96% of the stock is currently 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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