Alnylam Pharmaceuticals Inc. (ALNY) Reaches New 1-Year Low After Analyst Downgrade
Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY)’s share price hit a new 52-week low during mid-day trading on Friday after Morgan Stanley downgraded the stock from an overweight rating to an equal weight rating. Morgan Stanley now has a $36.00 price target on the stock, down from their previous price target of $38.00. Alnylam Pharmaceuticals traded as low as $34.18 and last traded at $34.32, with a volume of 3,003,293 shares trading hands. The stock had previously closed at $36.21.
Other equities research analysts have also recently issued reports about the stock. 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 cut shares of Alnylam Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $85.00 to $50.00 in a research report on Thursday. Finally, Stifel Nicolaus cut their price objective on shares of Alnylam Pharmaceuticals from $68.00 to $36.00 and set a “hold” rating on the stock in a research report on Thursday. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $84.00.
In related news, CEO John Maraganore sold 30,151 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were 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 owns 148,465 shares in the company, valued at approximately $9,604,200.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 4.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dodge & Cox bought a new position in shares of Alnylam Pharmaceuticals during the second quarter worth approximately $139,650,000. Wellington Management Group LLP raised its position in shares of 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 worth $749,826,000 after buying an additional 1,288,123 shares during the period. Bridger Management LLC bought a new position in shares of Alnylam Pharmaceuticals during the first quarter worth approximately $50,041,000. Slate Path Capital LP raised 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 worth $71,244,000 after buying an additional 410,000 shares during the period. Finally, Deerfield Management Co. bought a new position in shares of Alnylam Pharmaceuticals during the second quarter worth approximately $18,645,000. Institutional investors and hedge funds own 85.96% of the company’s stock.
The company’s 50-day moving average price is $70.69 and its 200 day moving average price is $66.05. The company’s market cap is $2.94 billion.
Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.05) EPS for the quarter, topping analysts’ consensus estimates of ($1.24) by $0.19. The business earned $8.70 million during the quarter, compared to analysts’ expectations of $8.09 million. Alnylam Pharmaceuticals had a negative net margin of 1,204.91% and a negative return on equity of 29.60%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the company posted ($0.85) earnings per share. Equities research analysts forecast that Alnylam Pharmaceuticals Inc. will post ($4.68) earnings per share for the current year.
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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