Morgan Stanley Cuts Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $159.00

Alnylam Pharmaceuticals (NASDAQ:ALNY – Get Rating) had its target price reduced by Morgan Stanley from $164.00 to $159.00 in a research note issued to investors on Friday, Marketbeat.com reports. Morgan Stanley currently has an equal weight rating on the biopharmaceutical company’s stock.

A number of other research analysts have also recently commented on the company. Guggenheim cut Alnylam Pharmaceuticals from a buy rating to a neutral rating in a research note on Monday, June 27th. Oppenheimer restated an outperform rating and set a $205.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Wednesday, April 6th. HC Wainwright boosted their price objective on Alnylam Pharmaceuticals from $400.00 to $430.00 in a research note on Monday, May 2nd. William Blair started coverage on Alnylam Pharmaceuticals in a research note on Tuesday, June 7th. They set an outperform rating on the stock. Finally, Needham & Company LLC assumed coverage on Alnylam Pharmaceuticals in a research note on Thursday, June 16th. They set a buy rating and a $205.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alnylam Pharmaceuticals presently has a consensus rating of Moderate Buy and an average target price of $212.18.

Alnylam Pharmaceuticals Price Performance

Shares of Alnylam Pharmaceuticals stock opened at $142.04 on Friday. Alnylam Pharmaceuticals has a twelve month low of $117.58 and a twelve month high of $212.00. The stock has a market capitalization of $17.16 billion, a P/E ratio of -18.96 and a beta of 0.80. The company has a current ratio of 4.27, a quick ratio of 4.14 and a debt-to-equity ratio of 1.69. The business’s fifty day moving average price is $139.22 and its 200 day moving average price is $146.53.

Alnylam Pharmaceuticals (NASDAQ:ALNY – Get Rating) last issued its earnings results on Thursday, July 28th. The biopharmaceutical company reported ($2.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.62) by ($0.67). The firm had revenue of $224.80 million during the quarter, compared to analyst estimates of $256.06 million. Alnylam Pharmaceuticals had a negative net margin of 101.46% and a negative return on equity of 137.44%. Alnylam Pharmaceuticals’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.61) EPS. As a group, research analysts anticipate that Alnylam Pharmaceuticals will post -7.05 earnings per share for the current year.

Insider Activity at Alnylam Pharmaceuticals

In related news, EVP Tolga Tanguler sold 1,754 shares of the business’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $150.00, for a total value of $263,100.00. Following the completion of the sale, the executive vice president now directly owns 1,754 shares of the company’s stock, valued at $263,100. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several institutional investors have recently made changes to their positions in ALNY. National Bank of Canada FI bought a new position in shares of Alnylam Pharmaceuticals during the fourth quarter valued at approximately $796,000. Brown Advisory Inc. bought a new position in shares of Alnylam Pharmaceuticals during the fourth quarter valued at approximately $4,507,000. National Asset Management Inc. acquired a new position in shares of Alnylam Pharmaceuticals during the fourth quarter worth approximately $268,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Alnylam Pharmaceuticals during the fourth quarter worth approximately $4,382,000. Finally, Commonwealth Equity Services LLC boosted its position in shares of Alnylam Pharmaceuticals by 22.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 5,211 shares of the biopharmaceutical company’s stock worth $883,000 after buying an additional 942 shares during the period. 92.39% of the stock is owned by institutional investors.

About Alnylam Pharmaceuticals

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

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