Morgan Stanley Cuts Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $124.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price reduced by Morgan Stanley from $126.00 to $124.00 in a research note released on Wednesday, BenzingaRatingsTable reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

Several other equities analysts have also weighed in on ALNY. Stifel Nicolaus lifted their price target on Alnylam Pharmaceuticals from $110.00 to $116.00 and gave the company a buy rating in a research note on Monday, April 15th. Goldman Sachs Group restated a neutral rating and issued a $80.00 price target on shares of Alnylam Pharmaceuticals in a research note on Thursday, May 23rd. Evercore ISI started coverage on Alnylam Pharmaceuticals in a research note on Thursday, April 11th. They issued an outperform rating and a $120.00 price target for the company. Zacks Investment Research lowered Alnylam Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, May 8th. Finally, Svb Leerink lifted their price target on Alnylam Pharmaceuticals from $65.00 to $70.00 and gave the company a market perform rating in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $124.50.

Shares of Alnylam Pharmaceuticals stock traded down $2.19 on Wednesday, hitting $80.78. The company’s stock had a trading volume of 711,761 shares, compared to its average volume of 760,153. The company has a quick ratio of 9.12, a current ratio of 6.28 and a debt-to-equity ratio of 0.17. Alnylam Pharmaceuticals has a 1 year low of $60.27 and a 1 year high of $124.21. The firm’s fifty day moving average is $74.13. The firm has a market cap of $8.58 billion, a P/E ratio of -10.67 and a beta of 2.46.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($2.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.06) by $0.04. Alnylam Pharmaceuticals had a negative return on equity of 56.42% and a negative net margin of 848.70%. The firm had revenue of $38.20 million during the quarter, compared to analyst estimates of $42.24 million. During the same quarter in the previous year, the business earned ($1.61) EPS. Alnylam Pharmaceuticals’s revenue for the quarter was up 27.8% compared to the same quarter last year. As a group, equities analysts forecast that Alnylam Pharmaceuticals will post -8.46 earnings per share for the current fiscal year.

In related news, CEO John Maraganore sold 49,457 shares of Alnylam Pharmaceuticals stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $70.00, for a total value of $3,461,990.00. Following the sale, the chief executive officer now directly owns 239,450 shares in the company, valued at approximately $16,761,500. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.60% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ALNY. Capital Investment Advisory Services LLC acquired a new stake in Alnylam Pharmaceuticals in the 2nd quarter worth about $25,000. Meeder Asset Management Inc. boosted its holdings in Alnylam Pharmaceuticals by 332.9% in the 1st quarter. Meeder Asset Management Inc. now owns 342 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 263 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Alnylam Pharmaceuticals by 543.2% in the 1st quarter. Quadrant Capital Group LLC now owns 521 shares of the biopharmaceutical company’s stock worth $46,000 after buying an additional 440 shares during the last quarter. Price Wealth Management Inc. acquired a new position in shares of Alnylam Pharmaceuticals during the 2nd quarter worth approximately $46,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Alnylam Pharmaceuticals during the 1st quarter worth approximately $47,000. Institutional investors own 89.71% of the company’s stock.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing RNA interference (RNAi) therapeutics. The company's pipeline of investigational RNAi therapeutics focus on genetic medicines, cardio-metabolic diseases, hepatic infectious diseases, and central nervous system/ocular diseases.

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