Alnylam Pharmaceuticals (NASDAQ:ALNY) Trading Down 6.7% - Time to Sell?

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Get Free Report)'s share price was down 6.7% during trading on Tuesday . The stock traded as low as $240.66 and last traded at $240.95. Approximately 408,778 shares traded hands during trading, a decline of 34% from the average daily volume of 618,691 shares. The stock had previously closed at $258.27.

Analysts Set New Price Targets

Several equities analysts have recently commented on ALNY shares. Sanford C. Bernstein lowered their price target on shares of Alnylam Pharmaceuticals from $314.00 to $310.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. StockNews.com cut shares of Alnylam Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, January 9th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $220.00 price objective on shares of Alnylam Pharmaceuticals in a report on Friday, October 11th. 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. Finally, Barclays upped their price objective on shares of Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $298.61.

Alnylam Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 31.64, a current ratio of 2.75 and a quick ratio of 2.69. The company's 50 day moving average price is $248.64 and its 200 day moving average price is $259.83. The firm has a market capitalization of $31.02 billion, a P/E ratio of -91.80 and a beta of 0.34.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) 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 analyst estimates of $532.91 million. During the same quarter in the prior year, the business earned $1.15 earnings per share. Alnylam Pharmaceuticals's revenue was down 33.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -2.21 EPS for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

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

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds have recently bought and sold shares of ALNY. Ashton Thomas Private Wealth LLC acquired a new stake in Alnylam Pharmaceuticals in the second quarter worth $26,000. Huntington National Bank raised its holdings in shares of Alnylam Pharmaceuticals by 91.8% during the third quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company's stock worth $26,000 after acquiring an additional 45 shares during the period. Hollencrest Capital Management acquired a new stake in shares of Alnylam Pharmaceuticals during the third quarter worth $29,000. Washington Trust Advisors Inc. acquired a new stake in shares of Alnylam Pharmaceuticals during the third quarter worth $42,000. Finally, True Wealth Design LLC raised its holdings in shares of Alnylam Pharmaceuticals by 15,300.0% during the third quarter. True Wealth Design LLC now owns 154 shares of the biopharmaceutical company's stock worth $42,000 after acquiring an additional 153 shares during the period. 92.97% of the stock is currently owned by institutional investors and hedge funds.

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.