Alnylam Pharmaceuticals (NASDAQ:ALNY) Hits New 12-Month Low Following Analyst Downgrade

Key Points

• Alnylam Pharmaceuticals hit a new 52-week low after JPMorgan cut its price target from $420 to $400, even while keeping an overweight rating. The shares fell as low as $264.21 in Thursday trading.
• Several other analysts recently adjusted their views, with some lowering targets and others raising them; the overall consensus remains Moderate Buy with an average price target of $452.13.
• The company posted a strong first-quarter earnings beat, reporting $1.99 EPS versus $0.87 expected and revenue of $1.17 billion, up 96.4% year over year. A director also sold shares in a pre-arranged Rule 10b5-1 transaction.

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Get Free Report)'s share price hit a new 52-week low during trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $420.00 to $400.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Alnylam Pharmaceuticals traded as low as $264.21 and last traded at $266.99, with a volume of 1104594 shares trading hands. The stock had previously closed at $271.37.

A number of other equities research analysts also recently issued reports on the company. Truist Financial decreased their price objective on Alnylam Pharmaceuticals from $505.00 to $410.00 and set a "buy" rating on the stock in a research report on Monday, July 13th. HC Wainwright lifted their target price on Alnylam Pharmaceuticals from $470.00 to $485.00 and gave the stock a "buy" rating in a report on Monday, July 13th. Morgan Stanley boosted their target price on Alnylam Pharmaceuticals from $370.00 to $400.00 and gave the company an "equal weight" rating in a research report on Friday, July 10th. Chardan Capital restated a "buy" rating and set a $425.00 price target on shares of Alnylam Pharmaceuticals in a report on Wednesday, March 25th. Finally, Bank of America dropped their price objective on shares of Alnylam Pharmaceuticals from $460.00 to $410.00 and set a "buy" rating for the company in a research note on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Alnylam Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $452.13.

Insider Activity

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the completion of the transaction, the director owned 1,582 shares in the company, valued at $473,302.76. The trade was a 70.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. MV Capital Management Inc. purchased a new stake in Alnylam Pharmaceuticals in the fourth quarter worth $25,000. HM Payson & Co. purchased a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter valued at $27,000. Golden State Wealth Management LLC boosted its stake in shares of Alnylam Pharmaceuticals by 100.0% during the fourth quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 36 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Alnylam Pharmaceuticals in the third quarter worth about $29,000. Finally, Manchester Capital Management LLC grew its holdings in shares of Alnylam Pharmaceuticals by 600.0% in the fourth quarter. Manchester Capital Management LLC now owns 84 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 92.97% of the company's stock.

Alnylam Pharmaceuticals Stock Down 1.6%

The company has a market cap of $35.65 billion, a PE ratio of 72.95 and a beta of 0.27. The company's 50 day moving average is $293.02 and its 200 day moving average is $317.88. The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $1.12. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. Alnylam Pharmaceuticals had a net margin of 11.72% and a return on equity of 85.76%. The firm's revenue for the quarter was up 96.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.44) EPS. As a group, analysts predict that Alnylam Pharmaceuticals, Inc. will post 7.35 earnings per share for the current fiscal year.

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.

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