Alnylam Pharmaceuticals (NASDAQ:ALNY) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other analysts also recently issued reports on ALNY. Bank of America raised their price objective on Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Needham & Company LLC reissued a “buy” rating and set a $320.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Wednesday, April 9th. JPMorgan Chase & Co. raised their price objective on Alnylam Pharmaceuticals from $330.00 to $338.00 and gave the stock an “overweight” rating in a research report on Thursday, June 12th. Canaccord Genuity Group raised their price objective on Alnylam Pharmaceuticals from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Finally, UBS Group raised their price objective on Alnylam Pharmaceuticals from $331.00 to $349.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $319.58.

Alnylam Pharmaceuticals Stock Up 0.3%

Shares of ALNY opened at $308.78 on Friday. Alnylam Pharmaceuticals has a 52-week low of $152.30 and a 52-week high of $310.22. The company has a market capitalization of $40.26 billion, a PE ratio of -142.29 and a beta of 0.22. The stock has a fifty day simple moving average of $271.78 and a two-hundred day simple moving average of $259.48. The company has a quick ratio of 2.71, a current ratio of 2.78 and a debt-to-equity ratio of 15.27.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.07). The business had revenue of $594.19 million during the quarter, compared to analyst estimates of $584.32 million. During the same period in the previous year, the business earned ($0.16) earnings per share. The firm’s revenue was up 20.2% on a year-over-year basis. As a group, equities analysts forecast that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insider Activity

In other news, CEO Yvonne Greenstreet sold 19,297 shares of Alnylam Pharmaceuticals stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $306.00, for a total value of $5,904,882.00. Following the completion of the transaction, the chief executive officer now owns 48,948 shares in the company, valued at approximately $14,978,088. This trade represents a 28.28% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Regeneron Pharmaceuticals Inc. purchased a new stake in Alnylam Pharmaceuticals during the fourth quarter worth approximately $1,045,822,000. Norges Bank purchased a new stake in Alnylam Pharmaceuticals during the fourth quarter worth approximately $577,941,000. Capital Research Global Investors lifted its stake in Alnylam Pharmaceuticals by 32.9% during the fourth quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company’s stock worth $1,639,767,000 after purchasing an additional 1,724,610 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Alnylam Pharmaceuticals by 39.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company’s stock worth $1,031,705,000 after purchasing an additional 1,245,195 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Alnylam Pharmaceuticals by 2.5% during the first quarter. Vanguard Group Inc. now owns 13,056,605 shares of the biopharmaceutical company’s stock worth $3,525,544,000 after purchasing an additional 323,206 shares during the last quarter. Hedge funds and other institutional investors own 92.97% of the company’s stock.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.