Alnylam Pharmaceuticals (NASDAQ:ALNY) Shares Gap Down – Here’s What Happened

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) shares gapped down prior to trading on Tuesday . The stock had previously closed at $330.34, but opened at $319.48. Alnylam Pharmaceuticals shares last traded at $314.2240, with a volume of 310,947 shares.

Analyst Upgrades and Downgrades

ALNY has been the subject of a number of research reports. Canaccord Genuity Group upped their price objective on Alnylam Pharmaceuticals from $415.00 to $429.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Chardan Capital reiterated a “buy” rating and issued a $425.00 price objective on shares of Alnylam Pharmaceuticals in a report on Wednesday, March 25th. Freedom Capital upgraded Alnylam Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 17th. Truist Financial lowered their target price on Alnylam Pharmaceuticals from $535.00 to $530.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Finally, Barclays started coverage on Alnylam Pharmaceuticals in a research note on Wednesday, January 28th. They issued an “overweight” rating and a $527.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $473.87.

Alnylam Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.71 and a current ratio of 2.76. The business has a 50 day moving average price of $326.15 and a two-hundred day moving average price of $393.92. The company has a market cap of $41.98 billion, a P/E ratio of 185.13 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, February 12th. The biopharmaceutical company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.18). The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.16 billion. Alnylam Pharmaceuticals had a net margin of 6.43% and a return on equity of 69.02%. The company’s revenue for the quarter was up 84.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.65) EPS. On average, sell-side analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, EVP Pushkal Garg sold 2,242 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $310.08, for a total transaction of $695,199.36. Following the completion of the transaction, the executive vice president owned 24,848 shares of the company’s stock, valued at $7,704,867.84. This represents a 8.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 2,290 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $370.33, for a total value of $848,055.70. Following the transaction, the executive vice president directly owned 21,264 shares of the company’s stock, valued at $7,874,697.12. The trade was a 9.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 53,923 shares of company stock worth $18,072,087. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Alnylam Pharmaceuticals by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 13,565,452 shares of the biopharmaceutical company’s stock worth $6,185,846,000 after acquiring an additional 268,313 shares in the last quarter. Capital Research Global Investors raised its position in shares of Alnylam Pharmaceuticals by 0.4% in the 3rd quarter. Capital Research Global Investors now owns 7,222,840 shares of the biopharmaceutical company’s stock worth $3,293,516,000 after acquiring an additional 31,184 shares in the last quarter. Groupama Asset Managment raised its position in shares of Alnylam Pharmaceuticals by 160.4% in the 3rd quarter. Groupama Asset Managment now owns 4,032,082 shares of the biopharmaceutical company’s stock worth $18,610,000 after acquiring an additional 2,483,697 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Alnylam Pharmaceuticals by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 2,650,722 shares of the biopharmaceutical company’s stock worth $1,056,884,000 after acquiring an additional 151,480 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Alnylam Pharmaceuticals in the 4th quarter worth approximately $895,816,000. Institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc (NASDAQ: ALNY) is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.