Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price Up 6.9% – What’s Next?

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) shares shot up 6.9% on Friday. The stock traded as high as $165.37 and last traded at $167.3820. Approximately 184,975 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 1,591,964 shares. The stock had previously closed at $156.65.

Analyst Ratings Changes

A number of brokerages have weighed in on ALNY. Royal Bank Of Canada reduced their price target on Alnylam Pharmaceuticals from $345.00 to $280.00 and set an “outperform” rating on the stock in a research note on Friday, October 30th. Chardan Capital lowered their price objective on Alnylam Pharmaceuticals from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Friday, October 30th. Citigroup lowered their price objective on Alnylam Pharmaceuticals from $340.00 to $320.00 and set a “buy” rating for the company in a research report on Wednesday, October 14th. BMO Capital Markets reiterated an “outperform” rating and issued a $290.00 target price on shares of Alnylam Pharmaceuticals in a research note on Friday, October 30th. Finally, Zacks Research downgraded Alnylam Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $305.86.

Alnylam Pharmaceuticals Stock Performance

The company has a quick ratio of 2.43, a current ratio of 2.48 and a debt-to-equity ratio of 0.18. The company has a market cap of $22.11 billion, a PE ratio of 8.57 and a beta of 0.42. The stock’s 50 day simple moving average is $219.25 and its two-hundred day simple moving average is $276.00.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings data on Thursday, October 29th. The biopharmaceutical company reported $16.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $14.60. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Alnylam Pharmaceuticals had a net margin of 52.85% and a return on equity of 155.33%. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.90 EPS. As a group, research analysts anticipate that Alnylam Pharmaceuticals, Inc. will post 6.85 earnings per share for the current year.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, EVP Bryan Supran sold 1,758 shares of the business’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $226.88, for a total transaction of $398,855.04. Following the completion of the sale, the executive vice president owned 12,807 shares of the company’s stock, valued at approximately $2,905,652.16. The trade was a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Nova Scotia boosted its stake in Alnylam Pharmaceuticals by 0.6% during the first quarter. Bank of Nova Scotia now owns 7,798 shares of the biopharmaceutical company’s stock valued at $2,580,000 after buying an additional 49 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in Alnylam Pharmaceuticals by 27.8% during the third quarter. SBI Securities Co. Ltd. now owns 225 shares of the biopharmaceutical company’s stock worth $56,000 after acquiring an additional 49 shares during the period. Prestige Wealth Management Group LLC grew its holdings in Alnylam Pharmaceuticals by 30.6% during the first quarter. Prestige Wealth Management Group LLC now owns 226 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 53 shares during the period. Fortitude Family Office LLC raised its position in Alnylam Pharmaceuticals by 10.5% in the third quarter. Fortitude Family Office LLC now owns 578 shares of the biopharmaceutical company’s stock worth $143,000 after acquiring an additional 55 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its position in Alnylam Pharmaceuticals by 8.3% in the first quarter. Glenmede Trust Co. NA now owns 731 shares of the biopharmaceutical company’s stock worth $242,000 after acquiring an additional 56 shares in the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals is a biopharmaceutical company focused on discovering, developing and commercializing medicines based on RNA interference (RNAi), a biological process that can reduce the production of specific disease-causing proteins. Founded in 2002 and headquartered in Cambridge, Massachusetts, the company helped advance RNAi from a scientific discovery into a therapeutic approach. Its marketed medicines 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.