Morgan Stanley cut shares of Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) from an overweight rating to an equal weight rating in a research note published on Friday morning. The brokerage currently has $36.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $38.00.
Several other analysts have also recently issued reports on ALNY. Credit Suisse Group AG reissued a buy rating on shares of Alnylam Pharmaceuticals in a research note on Sunday, June 12th. Cowen and Company reissued a buy rating on shares of Alnylam Pharmaceuticals in a research note on Sunday, June 12th. Leerink Swann reissued a buy rating on shares of Alnylam Pharmaceuticals in a research note on Sunday, June 12th. Zacks Investment Research cut Alnylam Pharmaceuticals from a hold rating to a sell rating in a research note on Monday, June 27th. Finally, FBR & Co reaffirmed a buy rating on shares of Alnylam Pharmaceuticals in a research report on Friday, June 10th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $80.88.
Shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) traded up 4.99% during mid-day trading on Friday, hitting $35.98. The stock had a trading volume of 1,531,150 shares. Alnylam Pharmaceuticals has a 52-week low of $33.16 and a 52-week high of $110.75. The firm’s market cap is $3.08 billion. The stock’s 50-day moving average price is $70.69 and its 200-day moving average price is $66.05.
Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.24) by $0.19. The company had revenue of $8.70 million for the quarter, compared to analysts’ expectations of $8.09 million. Alnylam Pharmaceuticals had a negative return on equity of 29.60% and a negative net margin of 1,204.91%. Alnylam Pharmaceuticals’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm earned ($0.85) earnings per share. On average, analysts anticipate that Alnylam Pharmaceuticals will post ($4.68) earnings per share for the current fiscal year.
In other Alnylam Pharmaceuticals news, CEO John Maraganore sold 30,151 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $64.69, for a total transaction of $1,950,468.19. Following the completion of the sale, the chief executive officer now directly owns 148,465 shares in the company, valued at approximately $9,604,200.85. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 4.00% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Slate Path Capital LP raised its stake in shares of Alnylam Pharmaceuticals by 56.6% in the first quarter. Slate Path Capital LP now owns 1,135,000 shares of the biopharmaceutical company’s stock worth $71,244,000 after buying an additional 410,000 shares in the last quarter. State Street Corp raised its stake in shares of Alnylam Pharmaceuticals by 15.7% in the first quarter. State Street Corp now owns 1,936,520 shares of the biopharmaceutical company’s stock worth $121,553,000 after buying an additional 262,783 shares in the last quarter. Bridger Management LLC bought a new stake in shares of Alnylam Pharmaceuticals during the first quarter worth $50,041,000. Schroder Investment Management Group raised its stake in shares of Alnylam Pharmaceuticals by 235.0% in the second quarter. Schroder Investment Management Group now owns 18,592 shares of the biopharmaceutical company’s stock worth $1,032,000 after buying an additional 13,042 shares in the last quarter. Finally, Turner Investments L.P. bought a new stake in shares of Alnylam Pharmaceuticals during the second quarter worth $575,000. Institutional investors and hedge funds own 85.96% of the company’s stock.
About Alnylam Pharmaceuticals
Alnylam Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in developing therapeutics based on ribonucleic acid (RNA) interference (RNAi). It is focused on the use of its N-acetylgalactosamine (GalNAc)-conjugate strategy for delivery of small interfering RNAs (siRNAs). Its pipeline of investigational RNAi therapeutics focuses in three Strategic Therapeutic Areas (STArs): Genetic Medicines; Cardio-Metabolic Disease, and Hepatic Infectious Disease.
Receive News & Ratings for Alnylam Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alnylam Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.