Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Lowered to $310.00 at Sanford C. Bernstein

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective lowered by investment analysts at Sanford C. Bernstein from $314.00 to $310.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Sanford C. Bernstein’s price target would indicate a potential upside of 31.64% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Canaccord Genuity Group boosted their price objective on Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the company a “buy” rating in a report on Friday, November 1st. HC Wainwright restated a “buy” rating and issued a $400.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Monday, November 18th. StockNews.com raised shares of Alnylam Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, December 27th. Needham & Company LLC restated a “buy” rating and set a $320.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. Finally, TD Cowen lifted their target price on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the company a “buy” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $298.61.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY traded up $2.34 during trading hours on Tuesday, reaching $235.49. 171,273 shares of the company traded hands, compared to its average volume of 381,781. The business has a fifty day moving average price of $251.91 and a 200-day moving average price of $259.18. Alnylam Pharmaceuticals has a 12-month low of $141.98 and a 12-month high of $304.39. The company has a quick ratio of 2.69, a current ratio of 2.75 and a debt-to-equity ratio of 31.64. The stock has a market capitalization of $30.37 billion, a P/E ratio of -89.88 and a beta of 0.34.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.36). The company had revenue of $500.90 million during the quarter, compared to analysts’ expectations of $532.91 million. During the same period last year, the business earned $1.15 earnings per share. The firm’s revenue for the quarter was down 33.3% on a year-over-year basis. Equities analysts anticipate that Alnylam Pharmaceuticals will post -2.21 EPS for the current fiscal year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, CMO Pushkal Garg sold 1,682 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total value of $422,148.36. Following the sale, the chief marketing officer now directly owns 17,457 shares in the company, valued at approximately $4,381,357.86. This trade represents a 8.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Yvonne Greenstreet sold 5,219 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total value of $1,309,864.62. Following the completion of the transaction, the chief executive officer now directly owns 78,880 shares in the company, valued at $19,797,302.40. This trade represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,122 shares of company stock worth $2,540,455 in the last 90 days. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of hedge funds have recently modified their holdings of ALNY. Souders Financial Advisors increased its stake in Alnylam Pharmaceuticals by 1.0% in the second quarter. Souders Financial Advisors now owns 3,512 shares of the biopharmaceutical company’s stock valued at $853,000 after purchasing an additional 36 shares during the period. Huntington National Bank grew its stake in shares of Alnylam Pharmaceuticals by 91.8% in the 3rd quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 45 shares during the last quarter. SYM FINANCIAL Corp increased its holdings in shares of Alnylam Pharmaceuticals by 6.2% in the third quarter. SYM FINANCIAL Corp now owns 947 shares of the biopharmaceutical company’s stock valued at $260,000 after purchasing an additional 55 shares during the period. Lindbrook Capital LLC raised its stake in shares of Alnylam Pharmaceuticals by 11.1% during the third quarter. Lindbrook Capital LLC now owns 570 shares of the biopharmaceutical company’s stock worth $157,000 after purchasing an additional 57 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Alnylam Pharmaceuticals by 77.6% during the 4th quarter. Versant Capital Management Inc now owns 190 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 83 shares during the last quarter. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Company Profile

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.