Morgan Stanley cut shares of Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) from an overweight rating to an equal weight rating in a research report released on Friday. Morgan Stanley currently has $36.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $38.00.
A number of other equities analysts have also issued reports on the company. FBR & Co cut their target price on Alnylam Pharmaceuticals from $180.00 to $100.00 and set an outperform rating on the stock in a research report on Thursday, October 6th. Goldman Sachs Group Inc. cut their target price on Alnylam Pharmaceuticals from $65.00 to $34.00 and set a neutral rating on the stock in a research report on Thursday, October 6th. Stifel Nicolaus cut their target price on Alnylam Pharmaceuticals from $68.00 to $36.00 and set a hold rating on the stock in a research report on Thursday, October 6th. Jefferies Group cut their target price on Alnylam Pharmaceuticals from $86.00 to $58.00 and set a buy rating on the stock in a research report on Thursday, October 6th. Finally, Needham & Company LLC lowered Alnylam Pharmaceuticals to a buy rating and cut their target price for the company from $152.00 to $137.00 in a research report on Thursday, October 6th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Alnylam Pharmaceuticals currently has a consensus rating of Buy and a consensus target price of $79.50.
Alnylam Pharmaceuticals (NASDAQ:ALNY) opened at 34.83 on Friday. Alnylam Pharmaceuticals has a 52-week low of $33.16 and a 52-week high of $110.75. The stock’s market capitalization is $2.99 billion. The company has a 50-day moving average of $68.44 and a 200-day moving average of $65.73.
Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.24) by $0.19. Alnylam Pharmaceuticals had a negative return on equity of 29.60% and a negative net margin of 1,204.91%. The company had revenue of $8.70 million for the quarter, compared to analyst estimates of $8.09 million. During the same period in the prior year, the company posted ($0.85) EPS. Alnylam Pharmaceuticals’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts expect that Alnylam Pharmaceuticals will post ($4.68) EPS for the current year.
In other news, CEO John Maraganore sold 30,151 shares of the stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $64.69, for a total value of $1,950,468.19. Following the completion of the transaction, the chief executive officer now owns 148,465 shares of the company’s stock, valued at $9,604,200.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.00% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALNY. Macquarie Group Ltd. boosted its position in Alnylam Pharmaceuticals by 2,138.1% in the second quarter. Macquarie Group Ltd. now owns 20,143 shares of the biopharmaceutical company’s stock valued at $1,118,000 after buying an additional 19,243 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Alnylam Pharmaceuticals by 63.0% in the second quarter. Royal Bank of Canada now owns 51,314 shares of the biopharmaceutical company’s stock valued at $2,847,000 after buying an additional 19,827 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Alnylam Pharmaceuticals by 3.6% in the second quarter. Public Employees Retirement System of Ohio now owns 28,961 shares of the biopharmaceutical company’s stock valued at $1,607,000 after buying an additional 1,000 shares in the last quarter. Calvert Investment Management Inc. boosted its position in shares of Alnylam Pharmaceuticals by 0.8% in the second quarter. Calvert Investment Management Inc. now owns 4,313 shares of the biopharmaceutical company’s stock valued at $239,000 after buying an additional 36 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in shares of Alnylam Pharmaceuticals during the second quarter valued at $859,000. 85.96% of the stock is owned by institutional investors.
Alnylam Pharmaceuticals Company Profile
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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