Alnylam Pharmaceuticals (NASDAQ:ALNY) Shares Down 5% – What’s Next?

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) shares were down 5% on Monday . The company traded as low as $285.72 and last traded at $288.0490. Approximately 376,737 shares changed hands during trading, a decline of 70% from the average daily volume of 1,240,858 shares. The stock had previously closed at $303.05.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ALNY shares. Canaccord Genuity Group boosted their target price on shares of Alnylam Pharmaceuticals from $415.00 to $429.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Bank of America restated a “buy” rating on shares of Alnylam Pharmaceuticals in a report on Thursday, February 12th. Jefferies Financial Group restated a “hold” rating and set a $330.00 target price (down from $522.00) on shares of Alnylam Pharmaceuticals in a report on Monday, March 16th. Chardan Capital restated a “buy” rating and set a $425.00 target price on shares of Alnylam Pharmaceuticals in a report on Wednesday, March 25th. Finally, Royal Bank Of Canada lowered their target price on shares of Alnylam Pharmaceuticals from $450.00 to $445.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $463.13.

Alnylam Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.94, a current ratio of 3.13 and a quick ratio of 3.06. The stock’s 50-day simple moving average is $307.66 and its 200 day simple moving average is $348.58. The stock has a market capitalization of $39.04 billion, a P/E ratio of 79.85 and a beta of 0.29.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $1.12. Alnylam Pharmaceuticals had a net margin of 11.72% and a return on equity of 85.76%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the business posted ($0.44) earnings per share. The company’s revenue for the quarter was up 96.4% compared to the same quarter last year. Research analysts expect that Alnylam Pharmaceuticals, Inc. will post 7.47 EPS for the current fiscal year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, insider Melissa Mclaughlin sold 2,286 shares of the business’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $330.42, for a total value of $755,340.12. Following the completion of the sale, the insider owned 9,443 shares of the company’s stock, valued at approximately $3,120,156.06. The trade was a 19.49% decrease in their ownership of the stock. The sale 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director David E. I. Pyott sold 3,830 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the completion of the sale, the director directly owned 1,582 shares of the company’s stock, valued at approximately $473,302.76. The trade was a 70.77% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 7,740 shares of company stock valued at $2,420,214. 0.86% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of institutional investors have recently modified their holdings of ALNY. MV Capital Management Inc. bought a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter valued at about $25,000. HM Payson & Co. bought a new stake in Alnylam Pharmaceuticals during the fourth quarter worth about $27,000. Golden State Wealth Management LLC lifted its position in Alnylam Pharmaceuticals by 100.0% during the fourth quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 36 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Alnylam Pharmaceuticals during the third quarter worth about $29,000. Finally, Ameriflex Group Inc. bought a new stake in Alnylam Pharmaceuticals during the third quarter worth about $32,000. Institutional investors own 92.97% of the company’s stock.

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.