Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Short Interest Down 23.6% in October

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Get Free Report) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 3,700,000 shares, a decrease of 23.6% from the October 15th total of 4,840,000 shares. Based on an average daily volume of 812,200 shares, the days-to-cover ratio is presently 4.6 days.

Alnylam Pharmaceuticals Stock Down 2.5 %

Alnylam Pharmaceuticals stock traded down $6.69 during trading hours on Thursday, hitting $257.91. 648,226 shares of the stock traded hands, compared to its average volume of 871,414. The company has a current ratio of 2.75, a quick ratio of 2.69 and a debt-to-equity ratio of 31.64. The firm's 50-day moving average price is $275.18 and its two-hundred day moving average price is $233.68. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $304.39. The company has a market cap of $33.27 billion, a PE ratio of -98.44 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released 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 company had revenue of $500.90 million during the quarter, compared to analyst estimates of $532.91 million. The company's quarterly revenue was down 33.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.15 earnings per share. On average, research analysts forecast that Alnylam Pharmaceuticals will post -2.22 EPS for the current year.

Insider Buying and Selling

In other news, CEO Yvonne Greenstreet sold 15,000 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total value of $4,200,000.00. Following the sale, the chief executive officer now directly owns 73,441 shares in the company, valued at approximately $20,563,480. This trade represents a 16.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Eventide Asset Management LLC increased its holdings in Alnylam Pharmaceuticals by 157.9% during the third quarter. Eventide Asset Management LLC now owns 224,333 shares of the biopharmaceutical company's stock valued at $61,698,000 after buying an additional 137,333 shares during the period. Captrust Financial Advisors increased its stake in shares of Alnylam Pharmaceuticals by 34.4% during the third quarter. Captrust Financial Advisors now owns 4,833 shares of the biopharmaceutical company's stock worth $1,329,000 after purchasing an additional 1,237 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of Alnylam Pharmaceuticals during the third quarter worth about $293,000. Bridgewater Associates LP acquired a new position in Alnylam Pharmaceuticals during the third quarter worth about $551,000. Finally, Brooklyn Investment Group acquired a new position in Alnylam Pharmaceuticals in the 3rd quarter valued at about $114,000. Institutional investors own 92.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ALNY. JPMorgan Chase & Co. upped their target price on Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the company a "neutral" rating in a research note on Monday, August 26th. The Goldman Sachs Group upgraded Alnylam Pharmaceuticals from a "neutral" rating to a "buy" rating and raised their target price for the company from $198.00 to $370.00 in a research note on Friday, August 16th. Bank of America raised their target price on shares of Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the stock a "buy" rating in a report on Monday, October 14th. Raymond James raised their price target on shares of Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Citigroup raised their price objective on shares of Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $294.50.

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.