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

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price target dropped by analysts at Sanford C. Bernstein from $314.00 to $310.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the biopharmaceutical company's stock. Sanford C. Bernstein's target price would indicate a potential upside of 31.38% from the stock's previous close.

A number of other research firms have also recently issued reports on ALNY. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. Bank of America lifted their price target on Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Canaccord Genuity Group upped their target price on Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the company a "buy" rating in a report on Friday, November 1st. William Blair reaffirmed an "outperform" rating on shares of Alnylam Pharmaceuticals in a research report on Tuesday, November 19th. Finally, Wolfe Research lowered shares of Alnylam Pharmaceuticals from a "peer perform" rating to an "underperform" rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat, Alnylam Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $298.61.

Alnylam Pharmaceuticals Stock Performance

ALNY traded up $2.80 during trading on Tuesday, reaching $235.95. 628,968 shares of the company's stock were exchanged, compared to its average volume of 498,567. The company has a market capitalization of $30.43 billion, a P/E ratio of -90.06 and a beta of 0.34. The company has a quick ratio of 2.69, a current ratio of 2.75 and a debt-to-equity ratio of 31.64. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $304.39. The business has a 50 day moving average price of $250.94 and a 200 day moving average price of $259.67.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $532.91 million. During the same quarter last year, the business posted $1.15 EPS. The firm's quarterly revenue was down 33.3% compared to the same quarter last year. As a group, analysts predict that Alnylam Pharmaceuticals will post -2.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Yvonne Greenstreet sold 5,219 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 78,880 shares of the company's stock, valued at approximately $19,797,302.40. This represents a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO Pushkal Garg sold 1,682 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total transaction of $422,148.36. Following the transaction, the chief marketing officer now directly owns 17,457 shares in the company, valued at $4,381,357.86. The trade was a 8.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,122 shares of company stock worth $2,540,455 in the last three months. Corporate insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC acquired a new position in Alnylam Pharmaceuticals in the 2nd quarter worth approximately $26,000. Huntington National Bank lifted its stake in shares of Alnylam Pharmaceuticals by 91.8% in the 3rd quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 45 shares during the last quarter. Hollencrest Capital Management acquired a new position in shares of Alnylam Pharmaceuticals during the 3rd quarter valued at about $29,000. Washington Trust Advisors Inc. acquired a new position in Alnylam Pharmaceuticals in the 3rd quarter valued at $42,000. Finally, True Wealth Design LLC increased its position in Alnylam Pharmaceuticals by 15,300.0% in the 3rd quarter. True Wealth Design LLC now owns 154 shares of the biopharmaceutical company's stock worth $42,000 after buying an additional 153 shares during the period. 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.