Morgan Stanley Cuts Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $268.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective cut by Morgan Stanley from $284.00 to $268.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an equal weight rating on the biopharmaceutical company’s stock.

ALNY has been the subject of several other research reports. Stifel Nicolaus increased their price objective on shares of Alnylam Pharmaceuticals from $300.00 to $345.00 and gave the stock a “buy” rating in a research note on Monday, March 31st. Sanford C. Bernstein dropped their price target on shares of Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. William Blair reissued an “outperform” rating on shares of Alnylam Pharmaceuticals in a research report on Friday, March 21st. Royal Bank of Canada raised their target price on Alnylam Pharmaceuticals from $310.00 to $330.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. Finally, Redburn Atlantic assumed coverage on Alnylam Pharmaceuticals in a report on Monday, March 31st. They set a “buy” rating and a $353.00 price target for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $315.58.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY stock opened at $237.77 on Friday. The company has a quick ratio of 2.71, a current ratio of 2.78 and a debt-to-equity ratio of 15.27. The company has a 50 day moving average price of $253.20 and a 200-day moving average price of $258.26. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $304.39. The firm has a market capitalization of $30.93 billion, a PE ratio of -109.57 and a beta of 0.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). As a group, equities research analysts expect that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Activity at Alnylam Pharmaceuticals

In other news, CMO Pushkal Garg sold 52,592 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $285.00, for a total transaction of $14,988,720.00. Following the sale, the chief marketing officer now directly owns 11,989 shares in the company, valued at approximately $3,416,865. This represents a 81.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Phillip A. Sharp sold 11,250 shares of Alnylam Pharmaceuticals stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $275.00, for a total value of $3,093,750.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,234 shares of company stock valued at $19,958,097. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several large investors have recently modified their holdings of the stock. Whipplewood Advisors LLC boosted its stake in Alnylam Pharmaceuticals by 208.8% during the first quarter. Whipplewood Advisors LLC now owns 105 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 71 shares during the period. Merit Financial Group LLC grew its holdings in Alnylam Pharmaceuticals by 113.0% during the 1st quarter. Merit Financial Group LLC now owns 5,314 shares of the biopharmaceutical company’s stock valued at $1,435,000 after purchasing an additional 2,819 shares during the last quarter. Rhumbline Advisers raised its position in Alnylam Pharmaceuticals by 1.0% in the 1st quarter. Rhumbline Advisers now owns 181,463 shares of the biopharmaceutical company’s stock worth $48,999,000 after purchasing an additional 1,885 shares during the period. Summit Global Investments bought a new stake in Alnylam Pharmaceuticals in the first quarter worth about $849,000. Finally, GAMMA Investing LLC boosted its position in shares of Alnylam Pharmaceuticals by 30,759.4% during the first quarter. GAMMA Investing LLC now owns 166,332 shares of the biopharmaceutical company’s stock valued at $44,913,000 after buying an additional 165,793 shares during the period. Institutional investors own 92.97% of the company’s stock.

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.