Alnylam Pharmaceuticals (NASDAQ:ALNY) Reaches New 52-Week Low - Time to Sell?

Key Points

• Alnylam Pharmaceuticals hit a new 52-week low, trading as low as $272, and was down about 4.5% on the day amid heavy volume.
• Despite the stock weakness, analysts remain broadly constructive: the consensus rating is “Moderate Buy” with an average target price of $455.31, though several firms recently trimmed their price targets.
• The company recently beat expectations in its latest quarter, reporting $1.99 EPS versus $0.87 expected and $1.17 billion in revenue, while insiders and institutional investors continue to hold meaningful positions.

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Get Free Report)'s share price hit a new 52-week low during trading on Friday . The company traded as low as $272.00 and last traded at $271.6850, with a volume of 390019 shares trading hands. The stock had previously closed at $283.15.

Analyst Upgrades and Downgrades

ALNY has been the topic of several analyst reports. Royal Bank Of Canada dropped their target price on shares of Alnylam Pharmaceuticals from $450.00 to $445.00 and set an "outperform" rating on the stock in a research note on Friday, May 1st. Bank of America decreased their price objective on Alnylam Pharmaceuticals from $460.00 to $410.00 and set a "buy" rating on the stock in a report on Tuesday. Morgan Stanley increased their price target on Alnylam Pharmaceuticals from $370.00 to $400.00 and gave the company an "equal weight" rating in a report on Friday, July 10th. Truist Financial lowered their target price on shares of Alnylam Pharmaceuticals from $505.00 to $410.00 and set a "buy" rating for the company in a research note on Monday. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $425.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Wednesday, March 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $455.31.

Alnylam Pharmaceuticals Trading Down 4.5%

The company has a quick ratio of 3.06, a current ratio of 3.13 and a debt-to-equity ratio of 0.94. The firm has a market cap of $36.11 billion, a price-to-earnings ratio of 73.81 and a beta of 0.27. The company's 50-day moving average price is $294.71 and its 200-day moving average price is $321.49.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $1.12. The firm had revenue of $1.17 billion for 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%. Alnylam Pharmaceuticals's quarterly revenue was up 96.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.44) earnings per share. Equities analysts expect that Alnylam Pharmaceuticals, Inc. will post 7.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director David E. I. Pyott sold 3,830 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $299.18, for a total value of $1,145,859.40. Following the transaction, the director owned 1,582 shares in the company, valued at approximately $473,302.76. This represents a 70.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in ALNY. Groupama Asset Managment grew its stake in Alnylam Pharmaceuticals by 160.4% during the third quarter. Groupama Asset Managment now owns 4,032,082 shares of the biopharmaceutical company's stock worth $18,610,000 after buying an additional 2,483,697 shares during the period. Norges Bank bought a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter valued at about $895,816,000. Qube Research & Technologies Ltd acquired a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter worth about $369,943,000. AQR Capital Management LLC increased its holdings in shares of Alnylam Pharmaceuticals by 295.2% during the third quarter. AQR Capital Management LLC now owns 744,008 shares of the biopharmaceutical company's stock valued at $336,009,000 after purchasing an additional 555,759 shares during the period. Finally, Orbis Allan Gray Ltd lifted its holdings in shares of Alnylam Pharmaceuticals by 29.8% in the second quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company's stock valued at $691,771,000 after buying an additional 486,489 shares during the period. 92.97% of the stock is currently owned by institutional investors and hedge funds.

About Alnylam Pharmaceuticals

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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