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

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target lowered by Sanford C. Bernstein from $314.00 to $310.00 in a research report sent to investors on Tuesday,Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the biopharmaceutical company’s stock.

Several other brokerages also recently weighed in on ALNY. Bank of America upped their target price on shares of Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Wolfe Research cut shares of Alnylam Pharmaceuticals from a “peer perform” rating to an “underperform” rating in a report on Tuesday, November 12th. Scotiabank upped their price target on shares of Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 target price on shares of Alnylam Pharmaceuticals in a research note on Friday, November 1st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $296.00 price objective on shares of Alnylam Pharmaceuticals in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $298.61.

Alnylam Pharmaceuticals Stock Performance

Alnylam Pharmaceuticals stock opened at $240.55 on Tuesday. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $304.39. The company has a market capitalization of $31.03 billion, a price-to-earnings ratio of -91.81 and a beta of 0.34. The stock has a fifty day moving average of $249.60 and a two-hundred day moving average of $259.41. The company has a debt-to-equity ratio of 31.64, a quick ratio of 2.69 and a current ratio of 2.75.

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

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, EVP Tolga Tanguler sold 1,469 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total transaction of $368,689.62. Following the transaction, the executive vice president now directly owns 13,191 shares in the company, valued at $3,310,677.18. This trade represents a 10.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Yvonne Greenstreet sold 5,219 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total value of $1,309,864.62. Following the sale, the chief executive officer now directly owns 78,880 shares of the company’s stock, valued at $19,797,302.40. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,122 shares of company stock worth $2,540,455. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of ALNY. Los Angeles Capital Management LLC lifted its position in Alnylam Pharmaceuticals by 11,433.4% in the third quarter. Los Angeles Capital Management LLC now owns 137,017 shares of the biopharmaceutical company’s stock worth $37,684,000 after purchasing an additional 135,829 shares during the period. Sanctuary Advisors LLC acquired a new stake in Alnylam Pharmaceuticals in the second quarter worth about $578,000. Toronto Dominion Bank boosted its stake in Alnylam Pharmaceuticals by 27.3% in the third quarter. Toronto Dominion Bank now owns 15,466 shares of the biopharmaceutical company’s stock valued at $4,254,000 after acquiring an additional 3,315 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Alnylam Pharmaceuticals by 22.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 73,320 shares of the biopharmaceutical company’s stock worth $20,165,000 after buying an additional 13,422 shares during the period. Finally, Parkman Healthcare Partners LLC bought a new position in shares of Alnylam Pharmaceuticals during the third quarter worth $7,009,000. Institutional investors and hedge funds 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.