StockNews.com Downgrades Alnylam Pharmaceuticals (NASDAQ:ALNY) to Hold

StockNews.com downgraded shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) from a buy rating to a hold rating in a report issued on Sunday morning.

Several other research firms have also commented on ALNY. HC Wainwright reiterated a buy rating and set a $395.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Tuesday, March 5th. Royal Bank of Canada reiterated an outperform rating and set a $235.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Tuesday, February 20th. The Goldman Sachs Group lowered shares of Alnylam Pharmaceuticals from a buy rating to a neutral rating and reduced their price objective for the stock from $230.00 to $173.00 in a research note on Friday, February 16th. Needham & Company LLC restated a buy rating and set a $200.00 price target on shares of Alnylam Pharmaceuticals in a research note on Thursday, February 15th. Finally, Wells Fargo & Company cut their price target on shares of Alnylam Pharmaceuticals from $171.00 to $161.00 and set an equal weight rating on the stock in a research note on Friday, February 16th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $216.12.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY opened at $143.80 on Friday. The company has a 50 day moving average price of $150.77 and a 200-day moving average price of $166.28. Alnylam Pharmaceuticals has a fifty-two week low of $143.50 and a fifty-two week high of $218.88. The stock has a market capitalization of $18.11 billion, a PE ratio of -40.39 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.10) earnings per share for the quarter, topping the consensus estimate of ($1.20) by $0.10. The business had revenue of $439.72 million during the quarter, compared to analysts’ expectations of $439.38 million. During the same period in the previous year, the company posted ($1.68) EPS. Alnylam Pharmaceuticals’s revenue for the quarter was up 31.2% on a year-over-year basis. Equities research analysts forecast that Alnylam Pharmaceuticals will post -4.54 EPS for the current year.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. lifted its holdings in Alnylam Pharmaceuticals by 1.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 2,938 shares of the biopharmaceutical company’s stock valued at $562,000 after purchasing an additional 51 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in Alnylam Pharmaceuticals by 6.4% during the third quarter. EP Wealth Advisors LLC now owns 1,177 shares of the biopharmaceutical company’s stock valued at $208,000 after purchasing an additional 71 shares in the last quarter. Commerce Bank lifted its holdings in Alnylam Pharmaceuticals by 1.7% during the fourth quarter. Commerce Bank now owns 4,683 shares of the biopharmaceutical company’s stock valued at $896,000 after purchasing an additional 77 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Alnylam Pharmaceuticals by 7.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,368 shares of the biopharmaceutical company’s stock valued at $262,000 after purchasing an additional 89 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in Alnylam Pharmaceuticals by 2.1% during the third quarter. Oppenheimer & Co. Inc. now owns 4,519 shares of the biopharmaceutical company’s stock valued at $800,000 after purchasing an additional 93 shares in the last quarter. 92.97% of the stock is owned by hedge funds and other institutional investors.

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.