Alnylam Pharmaceuticals (NASDAQ:ALNY) Sets New 1-Year Low – Here’s What Happened

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $275.79 and last traded at $278.6750, with a volume of 163558 shares changing hands. The stock had previously closed at $282.72.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ALNY shares. Jefferies Financial Group reiterated a “hold” rating and issued a $330.00 target price (down from $522.00) on shares of Alnylam Pharmaceuticals in a report on Monday, March 16th. Citigroup started coverage on Alnylam Pharmaceuticals in a report on Tuesday, May 19th. They issued a “buy” rating and a $380.00 target price for the company. Royal Bank Of Canada lowered their target price on Alnylam Pharmaceuticals from $450.00 to $445.00 and set an “outperform” rating for the company in a report on Friday, May 1st. HC Wainwright reissued a “buy” rating and issued a $510.00 price target on shares of Alnylam Pharmaceuticals in a research report on Thursday, June 4th. Finally, Wells Fargo & Company boosted their price target on Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $463.13.

Alnylam Pharmaceuticals Stock Down 1.9%

The business has a fifty day moving average price of $302.00 and a two-hundred day moving average price of $339.75. 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 firm has a market capitalization of $37.01 billion, a price-to-earnings ratio of 75.72 and a beta of 0.29.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $1.12. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The company’s revenue was up 96.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.44) earnings per share. On average, equities analysts expect that Alnylam Pharmaceuticals, Inc. will post 7.47 earnings per share for the current year.

Insider Buying and Selling

In other news, Director David E. I. Pyott sold 3,830 shares of the firm’s stock in a transaction that occurred on 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 $473,302.76. This trade represents a 70.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Melissa Mclaughlin sold 2,286 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider owned 9,443 shares in the company, valued at approximately $3,120,156.06. This trade represents a 19.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold 7,740 shares of company stock valued at $2,420,214 over the last 90 days. Company insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC lifted its position in shares of Alnylam Pharmaceuticals by 7.9% in the first quarter. Parallel Advisors LLC now owns 891 shares of the biopharmaceutical company’s stock valued at $295,000 after acquiring an additional 65 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in Alnylam Pharmaceuticals by 8.3% in the 1st quarter. Glenmede Trust Co. NA now owns 731 shares of the biopharmaceutical company’s stock valued at $242,000 after acquiring an additional 56 shares during the last quarter. Groupama Asset Managment raised its holdings in Alnylam Pharmaceuticals by 2.5% in the 1st quarter. Groupama Asset Managment now owns 36,767 shares of the biopharmaceutical company’s stock valued at $12,165,000 after acquiring an additional 889 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Alnylam Pharmaceuticals in the 1st quarter valued at about $641,000. Finally, Janus Henderson Group PLC raised its holdings in Alnylam Pharmaceuticals by 7.8% in the 1st quarter. Janus Henderson Group PLC now owns 147,089 shares of the biopharmaceutical company’s stock valued at $48,661,000 after acquiring an additional 10,664 shares during the last quarter. Hedge funds and other 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.