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

Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) gapped up before the market opened on Thursday . The stock had previously closed at $323.50, but opened at $378.49. Alnylam Pharmaceuticals shares last traded at $360.4360, with a volume of 1,583,015 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ALNY shares. Truist Financial reduced their target price on Alnylam Pharmaceuticals from $515.00 to $505.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Royal Bank Of Canada lowered their price target on Alnylam Pharmaceuticals from $450.00 to $445.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Citigroup began coverage on Alnylam Pharmaceuticals in a research report on Tuesday, May 19th. They set a “buy” rating and a $380.00 price objective for the company. Wall Street Zen lowered shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $425.00 target price on shares of Alnylam Pharmaceuticals in a research report on Wednesday, March 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $461.39.

Alnylam Pharmaceuticals Trading Up 7.4%

The company has a quick ratio of 3.06, a current ratio of 3.13 and a debt-to-equity ratio of 0.94. The business has a 50-day simple moving average of $296.11 and a 200-day simple moving average of $326.31. The company has a market cap of $46.40 billion, a PE ratio of 94.77 and a beta of 0.27.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, topping the consensus estimate of $0.87 by $1.12. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the business posted ($0.44) earnings per share. The company’s quarterly revenue was up 96.4% on a year-over-year basis. On average, analysts predict that Alnylam Pharmaceuticals, Inc. will post 7.29 EPS for the current fiscal year.

Insider Transactions at Alnylam Pharmaceuticals

In related news, Director David E. I. Pyott sold 3,830 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the transaction, the director owned 1,582 shares of the company’s stock, valued at approximately $473,302.76. This represents a 70.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Brighton Jones LLC purchased a new position in shares of Alnylam Pharmaceuticals in the fourth quarter valued at approximately $243,000. Geneos Wealth Management Inc. grew its holdings in shares of Alnylam Pharmaceuticals by 372.3% in the first quarter. Geneos Wealth Management Inc. now owns 222 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 175 shares in the last quarter. Flow Traders U.S. LLC purchased a new stake in Alnylam Pharmaceuticals during the 2nd quarter worth approximately $241,000. Daiwa Securities Group Inc. increased its stake in Alnylam Pharmaceuticals by 0.3% during 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. Finally, NewEdge Advisors LLC lifted its holdings in Alnylam Pharmaceuticals by 70,300.0% during the 2nd quarter. NewEdge Advisors LLC now owns 704 shares of the biopharmaceutical company’s stock worth $229,000 after buying an additional 703 shares in the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

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.