Alnylam Pharmaceuticals (NASDAQ:ALNY) Downgraded by StockNews.com to "Hold"

StockNews.com downgraded shares of Alnylam Pharmaceuticals (NASDAQ:ALNY - Free Report) from a buy rating to a hold rating in a research note published on Wednesday.

A number of other research firms have also issued reports on ALNY. Redburn Atlantic assumed coverage on shares of Alnylam Pharmaceuticals in a report on Monday, March 31st. They issued a "buy" rating and a $353.00 target price on the stock. Chardan Capital restated a "buy" rating and set a $300.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday, March 21st. Canaccord Genuity Group raised their price objective on Alnylam Pharmaceuticals from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Friday, March 21st. Needham & Company LLC restated a "buy" rating and issued a $320.00 price target on shares of Alnylam Pharmaceuticals in a report on Wednesday, April 9th. Finally, Citigroup increased their price objective on shares of Alnylam Pharmaceuticals from $338.00 to $351.00 and gave the stock a "buy" rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $319.17.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ ALNY traded up $4.26 on Wednesday, hitting $259.39. The company's stock had a trading volume of 729,702 shares, compared to its average volume of 885,109. The stock has a 50 day moving average of $248.21 and a 200-day moving average of $255.31. The company has a market capitalization of $33.74 billion, a price-to-earnings ratio of -119.53 and a beta of 0.17. Alnylam Pharmaceuticals has a 12-month low of $144.73 and a 12-month high of $304.39. The company has a debt-to-equity ratio of 15.27, a current ratio of 2.78 and a quick ratio of 2.71.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.07). The company had revenue of $594.19 million during the quarter, compared to analysts' expectations of $584.32 million. During the same quarter in the prior year, the firm posted ($0.16) earnings per share. The business's quarterly revenue was up 20.2% compared to the same quarter last year. As a group, research analysts predict that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insider Buying and Selling

In other news, CEO Yvonne Greenstreet sold 1,213 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $255.17, for a total value of $309,521.21. Following the completion of the sale, the chief executive officer now owns 81,526 shares of the company's stock, valued at approximately $20,802,989.42. The trade was a 1.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 1,440 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $251.56, for a total value of $362,246.40. Following the sale, the executive vice president now directly owns 12,881 shares in the company, valued at approximately $3,240,344.36. This represents a 10.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,392 shares of company stock worth $1,875,627. 1.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Regeneron Pharmaceuticals Inc. acquired a new position in Alnylam Pharmaceuticals in the fourth quarter valued at approximately $1,045,822,000. Norges Bank bought a new position in Alnylam Pharmaceuticals during the 4th quarter worth $577,941,000. Capital Research Global Investors increased its position in Alnylam Pharmaceuticals by 32.9% in the fourth quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company's stock worth $1,639,767,000 after buying an additional 1,724,610 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in Alnylam Pharmaceuticals by 39.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company's stock valued at $1,031,705,000 after buying an additional 1,245,195 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Alnylam Pharmaceuticals by 496.6% during the fourth quarter. Marshall Wace LLP now owns 378,649 shares of the biopharmaceutical company's stock valued at $89,100,000 after acquiring an additional 315,182 shares during the period. 92.97% of the stock is owned by institutional investors and hedge funds.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.