Barclays Has Lowered Expectations for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective dropped by research analysts at Barclays from $527.00 to $450.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Barclays‘s price objective indicates a potential upside of 118.96% from the stock’s previous close.

Several other equities research analysts also recently weighed in on ALNY. Royal Bank Of Canada reduced their price objective on shares of Alnylam Pharmaceuticals from $445.00 to $350.00 and set an “outperform” rating for the company in a report on Friday. HC Wainwright reiterated a “buy” rating on shares of Alnylam Pharmaceuticals in a research report on Friday. Oppenheimer decreased their target price on Alnylam Pharmaceuticals from $500.00 to $350.00 and set an “outperform” rating for the company in a research note on Friday. Weiss Ratings raised shares of Alnylam Pharmaceuticals from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday. Finally, Morgan Stanley lowered their price objective on shares of Alnylam Pharmaceuticals from $400.00 to $300.00 and set an “equal weight” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $407.05.

Alnylam Pharmaceuticals Stock Performance

ALNY stock opened at $205.52 on Monday. The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94. The stock’s 50 day simple moving average is $287.96 and its 200 day simple moving average is $310.90. Alnylam Pharmaceuticals has a 12-month low of $197.81 and a 12-month high of $495.55. The firm has a market cap of $27.50 billion, a P/E ratio of 38.20 and a beta of 0.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $1.12. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 104.81%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the company posted ($0.44) earnings per share. The company’s revenue for the quarter was up 96.4% compared to the same quarter last year. As a group, equities research analysts predict that Alnylam Pharmaceuticals will post 7.22 EPS for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, Director David E. I. Pyott sold 3,830 shares of the stock in a transaction on Monday, June 1st. The shares were 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 in the company, valued at $473,302.76. This represents a 70.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of institutional investors have recently modified their holdings of ALNY. iA Global Asset Management Inc. grew its position in Alnylam Pharmaceuticals by 979.5% in the 4th quarter. iA Global Asset Management Inc. now owns 17,780 shares of the biopharmaceutical company’s stock worth $7,070,000 after purchasing an additional 16,133 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in Alnylam Pharmaceuticals in the fourth quarter valued at about $2,505,000. GF Fund Management CO. LTD. raised its holdings in shares of Alnylam Pharmaceuticals by 989.1% in the 4th quarter. GF Fund Management CO. LTD. now owns 30,462 shares of the biopharmaceutical company’s stock worth $12,113,000 after buying an additional 27,665 shares in the last quarter. Hsbc Holdings PLC raised its stake in Alnylam Pharmaceuticals by 22.6% during the fourth quarter. Hsbc Holdings PLC now owns 89,517 shares of the biopharmaceutical company’s stock worth $35,675,000 after acquiring an additional 16,503 shares in the last quarter. Finally, Brighton Jones LLC bought a new position in Alnylam Pharmaceuticals during the 4th quarter valued at about $243,000. Institutional investors own 92.97% of the company’s stock.

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.