Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price Down 6.6% – Should You Sell?

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) shares dropped 6.6% on Wednesday . The company traded as low as $206.33 and last traded at $209.53. Approximately 309,166 shares changed hands during trading, a decline of 62% from the average daily volume of 818,996 shares. The stock had previously closed at $224.32.

Wall Street Analyst Weigh In

ALNY has been the topic of several research analyst reports. Canaccord Genuity Group increased their price objective on shares of Alnylam Pharmaceuticals from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Friday, March 21st. Wells Fargo & Company increased their price target on shares of Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the stock an “equal weight” rating in a research report on Friday, March 21st. Redburn Atlantic initiated coverage on shares of Alnylam Pharmaceuticals in a research report on Monday, March 31st. They set a “buy” rating and a $353.00 price objective for the company. Royal Bank of Canada lifted their price target on shares of Alnylam Pharmaceuticals from $310.00 to $330.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. Finally, Stifel Nicolaus increased their target price on shares of Alnylam Pharmaceuticals from $300.00 to $345.00 and gave the company a “buy” rating in a research report on Monday, March 31st. 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $316.25.

Alnylam Pharmaceuticals Price Performance

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 stock’s 50 day moving average price is $256.07 and its two-hundred day moving average price is $259.24. The stock has a market cap of $28.23 billion, a price-to-earnings ratio of -99.33 and a beta of 0.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). Equities research analysts forecast that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Yvonne Greenstreet sold 1,213 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $255.17, for a total value of $309,521.21. Following the sale, the chief executive officer now directly owns 81,526 shares in the company, valued at $20,802,989.42. The trade was a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jeffrey V. Poulton sold 967 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $255.17, for a total value of $246,749.39. Following the completion of the transaction, the chief financial officer now directly owns 32,786 shares of the company’s stock, valued at $8,366,003.62. The trade was a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,234 shares of company stock worth $19,958,097 in the last quarter. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds have recently modified their holdings of ALNY. Quantinno Capital Management LP lifted its holdings in shares of Alnylam Pharmaceuticals by 50.3% during the 3rd quarter. Quantinno Capital Management LP now owns 3,366 shares of the biopharmaceutical company’s stock valued at $926,000 after acquiring an additional 1,126 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter worth about $669,000. EP Wealth Advisors LLC bought a new position in shares of Alnylam Pharmaceuticals in the third quarter worth $201,000. Orion Portfolio Solutions LLC lifted its position in Alnylam Pharmaceuticals by 14.8% in the third quarter. Orion Portfolio Solutions LLC now owns 3,541 shares of the biopharmaceutical company’s stock worth $974,000 after purchasing an additional 457 shares during the period. Finally, MML Investors Services LLC lifted its position in shares of Alnylam Pharmaceuticals by 5.7% during the 3rd quarter. MML Investors Services LLC now owns 3,086 shares of the biopharmaceutical company’s stock valued at $849,000 after acquiring an additional 166 shares during the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

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.