Alnylam Pharmaceuticals (NASDAQ:ALNY) Shares Down 6.7% – What’s Next?

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) shares fell 6.7% during trading on Tuesday . The stock traded as low as $240.66 and last traded at $240.95. 408,778 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 618,691 shares. The stock had previously closed at $258.27.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ALNY shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $220.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday, October 11th. Barclays increased their price target on shares of Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Raymond James boosted their target price on Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. William Blair restated an “outperform” rating on shares of Alnylam Pharmaceuticals in a research report on Tuesday, November 19th. Finally, TD Cowen raised their target price on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a “buy” rating in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $298.61.

Alnylam Pharmaceuticals Trading Down 6.4 %

The stock has a market cap of $31.17 billion, a PE ratio of -92.25 and a beta of 0.34. The stock’s fifty day moving average price is $248.64 and its 200 day moving average price is $259.83. The company has a quick ratio of 2.69, a current ratio of 2.75 and a debt-to-equity ratio of 31.64.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.36). The firm had revenue of $500.90 million during the quarter, compared to analysts’ expectations of $532.91 million. Alnylam Pharmaceuticals’s revenue was down 33.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.15 EPS. On average, sell-side analysts forecast that Alnylam Pharmaceuticals, Inc. will post -2.21 EPS for the current year.

Insiders Place Their Bets

In related news, CMO Pushkal Garg sold 1,682 shares of Alnylam Pharmaceuticals stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total value of $422,148.36. Following the completion of the sale, the chief marketing officer now owns 17,457 shares of the company’s stock, valued at $4,381,357.86. The trade was a 8.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Tolga Tanguler sold 1,469 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total value of $368,689.62. Following the completion of the transaction, the executive vice president now directly owns 13,191 shares in the company, valued at approximately $3,310,677.18. This represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,122 shares of company stock valued at $2,540,455. 1.50% of the stock is owned by insiders.

Institutional Trading of Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Eventide Asset Management LLC grew its holdings in Alnylam Pharmaceuticals by 157.9% during the third quarter. Eventide Asset Management LLC now owns 224,333 shares of the biopharmaceutical company’s stock valued at $61,698,000 after purchasing an additional 137,333 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of Alnylam Pharmaceuticals by 11,433.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 137,017 shares of the biopharmaceutical company’s stock valued at $37,684,000 after purchasing an additional 135,829 shares during the last quarter. AQR Capital Management LLC grew its holdings in Alnylam Pharmaceuticals by 92.5% during the 2nd quarter. AQR Capital Management LLC now owns 271,619 shares of the biopharmaceutical company’s stock valued at $65,862,000 after buying an additional 130,482 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in shares of Alnylam Pharmaceuticals during the 2nd quarter worth approximately $29,111,000. Finally, Avoro Capital Advisors LLC grew its holdings in shares of Alnylam Pharmaceuticals by 33.3% in the second quarter. Avoro Capital Advisors LLC now owns 400,000 shares of the biopharmaceutical company’s stock valued at $97,200,000 after purchasing an additional 100,000 shares in the last quarter. 92.97% of the stock is owned by hedge funds and other institutional investors.

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.