Alnylam Pharmaceuticals (NASDAQ:ALNY) Rating Lowered to "Hold" at Stifel Nicolaus

Key Points

• Stifel Nicolaus downgraded Alnylam Pharmaceuticals to “Hold” from “Buy,” setting a $225 price target—about 20% above the reported trading price. Despite the downgrade, analysts overall maintain a “Moderate Buy” consensus with an average target of $360.52.
• Shares fell 19.3% to $187.56, near the company’s 52-week low and well below its 50-day and 200-day moving averages. Trading volume also significantly exceeded the stock’s average.
• Alnylam’s latest quarterly results exceeded expectations, with $16.26 in earnings per share and $1.46 billion in revenue, while revenue grew 16.7% year over year. Institutional investors own approximately 93% of the company’s shares.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) was downgraded by equities researchers at Stifel Nicolaus from a "buy" rating to a "hold" rating in a research report issued on Thursday, MarketBeat Ratings reports. They presently have a $225.00 target price on the biopharmaceutical company's stock. Stifel Nicolaus's price objective would suggest a potential upside of 19.96% from the stock's current price.

A number of other equities research analysts have also commented on ALNY. BMO Capital Markets reaffirmed an "outperform" rating on shares of Alnylam Pharmaceuticals in a research note on Monday, August 31st. Barclays lowered their target price on shares of Alnylam Pharmaceuticals from $527.00 to $450.00 and set an "overweight" rating for the company in a research note on Monday, August 3rd. Truist Financial dropped their target price on shares of Alnylam Pharmaceuticals from $410.00 to $315.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. Weiss Ratings raised shares of Alnylam Pharmaceuticals from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, July 31st. Finally, Oppenheimer decreased their price target on Alnylam Pharmaceuticals from $500.00 to $350.00 and set an "outperform" rating for the company in a report on Friday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $360.52.

Alnylam Pharmaceuticals Trading Down 19.3%

Shares of ALNY traded down $44.84 during mid-day trading on Thursday, reaching $187.56. 4,059,717 shares of the company were exchanged, compared to its average volume of 1,453,492. The business has a 50 day simple moving average of $239.15 and a two-hundred day simple moving average of $288.34. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.99 and a current ratio of 3.05. The stock has a market capitalization of $25.10 billion, a PE ratio of 35.04 and a beta of 0.28. Alnylam Pharmaceuticals has a 52 week low of $179.87 and a 52 week high of $479.79.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its earnings results on Thursday, October 29th. The biopharmaceutical company reported $16.26 EPS for the quarter, beating the consensus estimate of $1.66 by $14.60. Alnylam Pharmaceuticals had a return on equity of 84.93% and a net margin of 15.26%. The business had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.43 billion. During the same period in the prior year, the business posted $2.90 earnings per share. The firm's revenue was up 16.7% on a year-over-year basis. On average, analysts predict that Alnylam Pharmaceuticals will post 6.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Bryan Supran sold 1,758 shares of the company's stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $226.88, for a total value of $398,855.04. Following the completion of the transaction, the executive vice president directly owned 12,807 shares of the company's stock, valued at $2,905,652.16. This represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.86% of the company's stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of Alnylam Pharmaceuticals by 9.0% during the 2nd quarter. Wellington Management Group LLP now owns 2,110,407 shares of the biopharmaceutical company's stock valued at $635,296,000 after buying an additional 174,482 shares in the last quarter. Legal & General Group Plc purchased a new position in Alnylam Pharmaceuticals during the 2nd quarter valued at about $278,321,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Alnylam Pharmaceuticals by 7.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,848 shares of the biopharmaceutical company's stock valued at $219,104,000 after buying an additional 50,329 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Alnylam Pharmaceuticals in the second quarter worth about $148,128,000. Finally, Swiss National Bank boosted its position in shares of Alnylam Pharmaceuticals by 7.9% in the first quarter. Swiss National Bank now owns 387,720 shares of the biopharmaceutical company's stock valued at $128,285,000 after acquiring an additional 28,520 shares during the period. 92.97% of the stock is owned by institutional investors.

Alnylam Pharmaceuticals News Summary

Here are the key news stories impacting Alnylam Pharmaceuticals this week:

• Positive Sentiment: Q3 results exceeded expectations: Alnylam reported earnings of $16.26 per share, well above consensus estimates ranging from $1.66 to $2.19. Revenue reached $1.46 billion, topping the $1.43 billion analyst forecast. Alnylam Pharmaceuticals Q3 Earnings and Revenues Top Estimates
• Positive Sentiment: Revenue growth remained solid: Quarterly revenue increased 16.7% from the prior-year period, while the company posted a 15.26% net margin and 84.93% return on equity. Alnylam Pharmaceuticals Earnings Report
• Positive Sentiment: Brezosiran data supports the bullish case: A recent analysis argued that ALNY could be substantially undervalued following clinical data for brezosiran, potentially providing an additional pipeline catalyst. Alnylam Could Be 39% Undervalued Following Brezosiran Data
• Neutral Sentiment: Trading was briefly halted: ALNY experienced a Limit Up-Limit Down pause shortly after the open, highlighting unusually sharp volatility around the earnings release.
• Negative Sentiment: Investors may have viewed the stock as fully valued: Commentary before earnings described ALNY as potentially “fully priced” after a 52% decline, which may have limited the market’s reaction to the earnings beat. Alnylam Stock Looks Fully Priced
• Negative Sentiment: The earnings beat may not fully ease concerns: The unusually large EPS result compared with $2.90 a year earlier could prompt investors to scrutinize the composition and repeatability of quarterly earnings, while shares remain near their 12-month low and below key moving averages.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines based on RNA interference (RNAi). The company's therapies are designed to silence specific genes involved in disease, with the goal of addressing the underlying causes of genetic and other serious conditions.

Alnylam's marketed products include ONPATTRO (patisiran) and AMVUTTRA (vutrisiran) for hereditary transthyretin-mediated amyloidosis, GIVLAARI (givosiran) for acute hepatic porphyria, and OXLUMO (lumasiran) for primary hyperoxaluria type 1.

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