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

Alnylam Pharmaceuticals (NASDAQ:ALNY) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Several other equities research analysts also recently weighed in on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $165.00 price target on shares of Alnylam Pharmaceuticals in a report on Tuesday, February 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $235.00 target price on shares of Alnylam Pharmaceuticals in a report on Tuesday, February 20th. BMO Capital Markets reissued an “outperform” rating and issued a $234.00 target price on shares of Alnylam Pharmaceuticals in a report on Wednesday, March 27th. Morgan Stanley reduced their target price on Alnylam Pharmaceuticals from $184.00 to $176.00 and set an “equal weight” rating for the company in a report on Tuesday, February 13th. Finally, Wolfe Research assumed coverage on Alnylam Pharmaceuticals in a report on Thursday, February 15th. They issued a “peer perform” rating for the company. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Alnylam Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $216.12.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ ALNY opened at $144.41 on Friday. The stock has a fifty day moving average price of $151.56 and a 200 day moving average price of $166.75. Alnylam Pharmaceuticals has a 1-year low of $143.50 and a 1-year high of $218.88. The company has a market cap of $18.19 billion, a PE ratio of -40.56 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued 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 company had revenue of $439.72 million for the quarter, compared to analyst estimates of $439.38 million. During the same period in the prior year, the business earned ($1.68) earnings per share. Alnylam Pharmaceuticals’s revenue for the quarter was up 31.2% compared to the same quarter last year. Analysts anticipate that Alnylam Pharmaceuticals will post -4.54 earnings per share for the current fiscal year.

Institutional Trading of Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its position in Alnylam Pharmaceuticals by 572.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 143 shares in the last quarter. Quent Capital LLC increased its position in Alnylam Pharmaceuticals by 246.0% during the 4th quarter. Quent Capital LLC now owns 173 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 123 shares in the last quarter. KB Financial Partners LLC purchased a new stake in Alnylam Pharmaceuticals during the 1st quarter worth about $35,000. Anchor Investment Management LLC purchased a new stake in Alnylam Pharmaceuticals during the 4th quarter worth about $38,000. Finally, GAMMA Investing LLC purchased a new stake in Alnylam Pharmaceuticals during the 4th quarter worth about $52,000. 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.