Alnylam Pharmaceuticals (ALNY) Shares Down 6.8% on Insider Selling
Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) dropped 6.8% on Tuesday after an insider sold shares in the company. The stock traded as low as $126.56 and last traded at $128.01. Approximately 1,306,200 shares traded hands during trading, an increase of 14% from the average daily volume of 1,150,462 shares. The stock had previously closed at $137.31.
Specifically, Director Dennis A. Ausiello sold 20,000 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $130.00, for a total value of $2,600,000.00. Following the sale, the director now directly owns 20,000 shares in the company, valued at approximately $2,600,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Barry E. Greene sold 85,316 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $125.00, for a total transaction of $10,664,500.00. The disclosure for this sale can be found here. Insiders sold a total of 393,212 shares of company stock worth $48,109,436 over the last 90 days. Company insiders own 4.30% of the company’s stock.
ALNY has been the topic of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $85.00 price objective (down from $98.00) on shares of Alnylam Pharmaceuticals in a report on Thursday, September 7th. Jefferies Group set a $102.00 price objective on shares of Alnylam Pharmaceuticals and gave the company a “buy” rating in a report on Friday, August 25th. BidaskClub lowered shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 16th. Credit Suisse Group reiterated a “buy” rating and set a $96.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, August 11th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $56.00 price target (up from $47.00) on shares of Alnylam Pharmaceuticals in a research note on Thursday, August 10th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $121.85.
Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($1.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.23) by ($0.11). The firm had revenue of $17.10 million during the quarter, compared to analysts’ expectations of $28.15 million. Alnylam Pharmaceuticals had a negative net margin of 664.70% and a negative return on equity of 46.94%. The firm’s revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.21) EPS. research analysts expect that Alnylam Pharmaceuticals, Inc. will post -5.21 earnings per share for the current year.
Several large investors have recently modified their holdings of ALNY. QS Investors LLC boosted its holdings in shares of Alnylam Pharmaceuticals by 59.7% in the second quarter. QS Investors LLC now owns 2,408 shares of the biopharmaceutical company’s stock valued at $192,000 after acquiring an additional 900 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Alnylam Pharmaceuticals by 7.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,541 shares of the biopharmaceutical company’s stock valued at $203,000 after acquiring an additional 167 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in shares of Alnylam Pharmaceuticals in the second quarter valued at about $221,000. Neuberger Berman Group LLC purchased a new stake in shares of Alnylam Pharmaceuticals in the second quarter valued at about $229,000. Finally, Fayerweather Charles purchased a new stake in shares of Alnylam Pharmaceuticals in the third quarter valued at about $230,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.
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About Alnylam Pharmaceuticals
Alnylam Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of ribonucleic acid (RNA) interference (RNAi) therapeutics. The Company is focused on the use of its N-acetylgalactosamine (GalNAc)-conjugate platform for delivery of small interfering RNAs (siRNAs).
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