Alnylam Pharmaceuticals (NASDAQ:ALNY) Shares Gap Down – Here’s What Happened

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) shares gapped down before the market opened on Friday . The stock had previously closed at $236.56, but opened at $224.47. Alnylam Pharmaceuticals shares last traded at $233.35, with a volume of 288,927 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALNY. Stifel Nicolaus cut their price target on Alnylam Pharmaceuticals from $444.00 to $318.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Needham & Company LLC lowered their price target on Alnylam Pharmaceuticals from $510.00 to $357.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Royal Bank Of Canada lowered their price target on Alnylam Pharmaceuticals from $445.00 to $350.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Barclays dropped their price target on Alnylam Pharmaceuticals from $527.00 to $450.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Finally, Truist Financial cut their price objective on shares of Alnylam Pharmaceuticals from $410.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $386.14.

Alnylam Pharmaceuticals Stock Down 0.3%

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 firm has a market capitalization of $31.57 billion, a PE ratio of 43.86 and a beta of 0.30. The company has a fifty day moving average price of $263.44 and a 200-day moving average price of $294.13.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.21. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the firm posted ($0.51) EPS. The business’s quarterly revenue was up 66.9% on a year-over-year basis. As a group, analysts expect that Alnylam Pharmaceuticals, Inc. will post 6.59 earnings per share for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of the stock in a transaction 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 sale, 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 document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of ALNY. Daiwa Securities Group Inc. lifted its holdings in shares of Alnylam Pharmaceuticals by 0.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company’s stock worth $4,220,000 after buying an additional 35 shares during the period. Golden State Wealth Management LLC increased its stake in shares of Alnylam Pharmaceuticals by 100.0% during the fourth quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 36 shares during the period. Coldstream Capital Management Inc. raised its holdings in shares of Alnylam Pharmaceuticals by 2.4% in the third quarter. Coldstream Capital Management Inc. now owns 1,640 shares of the biopharmaceutical company’s stock valued at $748,000 after acquiring an additional 38 shares in the last quarter. Atlantic Union Bankshares Corp raised its holdings in shares of Alnylam Pharmaceuticals by 20.9% in the fourth quarter. Atlantic Union Bankshares Corp now owns 231 shares of the biopharmaceutical company’s stock valued at $92,000 after acquiring an additional 40 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC lifted its stake in Alnylam Pharmaceuticals by 3.3% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 1,266 shares of the biopharmaceutical company’s stock worth $577,000 after acquiring an additional 40 shares during the period. 92.97% of the stock is owned by institutional investors.

Alnylam Pharmaceuticals Company Profile

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.