Shares of Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) reached a new 52-week low on Friday after Morgan Stanley downgraded the stock from an overweight rating to an equal weight rating. Morgan Stanley now has a $36.00 price target on the stock, down from their previous price target of $38.00. Alnylam Pharmaceuticals traded as low as $34.18 and last traded at $34.32, with a volume of 3,003,293 shares. The stock had previously closed at $36.21.
A number of other analysts have also weighed in on the company. FBR & Co lowered their target price on Alnylam Pharmaceuticals from $180.00 to $100.00 and set an “outperform” rating for the company in a report on Thursday. Goldman Sachs Group Inc. lowered their target price on Alnylam Pharmaceuticals from $65.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday. Stifel Nicolaus decreased their price objective on Alnylam Pharmaceuticals from $68.00 to $36.00 and set a “hold” rating for the company in a report on Thursday. Jefferies Group decreased their price objective on Alnylam Pharmaceuticals from $86.00 to $58.00 and set a “buy” rating for the company in a report on Thursday. Finally, Needham & Company LLC lowered Alnylam Pharmaceuticals to a “buy” rating and decreased their price objective for the company from $152.00 to $137.00 in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $80.88.
In other news, CEO John Maraganore sold 30,151 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $64.69, for a total transaction of $1,950,468.19. Following the sale, the chief executive officer now directly owns 148,465 shares in the company, valued at approximately $9,604,200.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.00% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Dodge & Cox acquired a new stake in Alnylam Pharmaceuticals during the second quarter worth approximately $139,650,000. Wellington Management Group LLP boosted its stake in Alnylam Pharmaceuticals by 12.1% in the first quarter. Wellington Management Group LLP now owns 11,945,607 shares of the biopharmaceutical company’s stock worth $749,826,000 after buying an additional 1,288,123 shares during the period. Bridger Management LLC acquired a new stake in Alnylam Pharmaceuticals during the first quarter worth approximately $50,041,000. Slate Path Capital LP boosted its stake in 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 during the period. Finally, Deerfield Management Co. acquired a new stake in Alnylam Pharmaceuticals during the second quarter worth approximately $18,645,000. Hedge funds and other institutional investors own 85.96% of the company’s stock.
The firm’s market cap is $2.94 billion. The company’s 50 day moving average price is $70.69 and its 200-day moving average price is $66.05.
Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.24) by $0.19. Alnylam Pharmaceuticals had a negative net margin of 1,204.91% and a negative return on equity of 29.60%. The firm earned $8.70 million during the quarter, compared to analysts’ expectations of $8.09 million. During the same period in the previous year, the company earned ($0.85) earnings per share. Alnylam Pharmaceuticals’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts predict that Alnylam Pharmaceuticals Inc. will post ($4.68) earnings per share for the current fiscal year.
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.
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