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

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price trimmed by Morgan Stanley from $284.00 to $268.00 in a report published on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the biopharmaceutical company’s stock.

A number of other brokerages have also recently weighed in on ALNY. StockNews.com cut Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. raised Alnylam Pharmaceuticals from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $280.00 to $328.00 in a research report on Monday, March 24th. Stifel Nicolaus increased their price objective on Alnylam Pharmaceuticals from $300.00 to $345.00 and gave the company a “buy” rating in a report on Monday, March 31st. William Blair reaffirmed an “outperform” rating on shares of Alnylam Pharmaceuticals in a report on Friday, March 21st. Finally, Bank of America increased their price target on shares of Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, March 21st. 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 stock. According to data from MarketBeat, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $315.58.

Alnylam Pharmaceuticals Trading Up 5.1 %

Shares of ALNY opened at $237.77 on Friday. The firm has a market capitalization of $30.93 billion, a price-to-earnings ratio of -109.57 and a beta of 0.30. The company has a debt-to-equity ratio of 15.27, a current ratio of 2.78 and a quick ratio of 2.71. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $304.39. The company has a 50-day moving average of $253.20 and a 200 day moving average of $258.26.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.03). On average, research analysts expect that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insider Activity

In related news, CFO Jeffrey V. Poulton sold 967 shares of the stock in a transaction on Friday, February 14th. The stock was 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 approximately $8,366,003.62. This represents a 2.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Phillip A. Sharp sold 11,250 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were 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. Insiders have sold a total of 71,234 shares of company stock worth $19,958,097 over the last 90 days. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Allworth Financial LP boosted its position in Alnylam Pharmaceuticals by 6.8% during the fourth quarter. Allworth Financial LP now owns 597 shares of the biopharmaceutical company’s stock worth $140,000 after acquiring an additional 38 shares during the last quarter. Investment Management Corp of Ontario boosted its holdings in shares of Alnylam Pharmaceuticals by 0.6% during the 4th quarter. Investment Management Corp of Ontario now owns 7,099 shares of the biopharmaceutical company’s stock worth $1,670,000 after purchasing an additional 40 shares during the last quarter. Nixon Peabody Trust Co. grew its position in shares of Alnylam Pharmaceuticals by 1.9% in the fourth quarter. Nixon Peabody Trust Co. now owns 2,293 shares of the biopharmaceutical company’s stock valued at $540,000 after purchasing an additional 43 shares in the last quarter. Brevan Howard Capital Management LP increased its holdings in shares of Alnylam Pharmaceuticals by 3.4% in the fourth quarter. Brevan Howard Capital Management LP now owns 1,333 shares of the biopharmaceutical company’s stock valued at $314,000 after purchasing an additional 44 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in Alnylam Pharmaceuticals by 24.2% during the fourth quarter. IFP Advisors Inc now owns 241 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 47 shares in the last quarter. 92.97% of the stock is currently 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.