The Morgan Stanley Downgrades Alnylam Pharmaceuticals Inc. (ALNY) to Equal Weight

The Morgan Stanley Downgrades Alnylam Pharmaceuticals Inc. (ALNY) to Equal Weight

Morgan Stanley lowered shares of Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) from an overweight rating to an equal weight rating in a research report sent to investors on Friday. They currently have $36.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $38.00.

A number of other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. cut Alnylam Pharmaceuticals from an overweight rating to a neutral rating and cut their price objective for the stock from $83.00 to $51.00 in a report on Thursday, October 6th. Jefferies Group dropped their target price on Alnylam Pharmaceuticals from $86.00 to $58.00 and set a buy rating for the company in a report on Thursday, October 6th. Credit Suisse Group AG set a $145.00 target price on Alnylam Pharmaceuticals and gave the company a buy rating in a report on Friday, September 30th. FBR & Co restated an outperform rating and set a $180.00 target price on shares of Alnylam Pharmaceuticals in a report on Sunday, July 17th. Finally, Zacks Investment Research cut Alnylam Pharmaceuticals from a hold rating to a sell rating in a report on Monday, July 25th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $79.50.

Shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) opened at 35.76 on Friday. The company’s market capitalization is $3.07 billion. Alnylam Pharmaceuticals has a one year low of $33.16 and a one year high of $110.75. The firm has a 50-day moving average price of $67.30 and a 200-day moving average price of $65.51.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.24) by $0.19. Alnylam Pharmaceuticals had a negative return on equity of 29.60% and a negative net margin of 1,204.91%. The firm earned $8.70 million during the quarter, compared to analysts’ expectations of $8.09 million. During the same period in the prior year, the business earned ($0.85) EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts forecast that Alnylam Pharmaceuticals will post ($4.68) earnings per share for the current year.

In other news, CEO John Maraganore sold 30,151 shares of the stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $64.69, for a total value of $1,950,468.19. Following the completion of the transaction, the chief executive officer now owns 148,465 shares of the company’s stock, valued at approximately $9,604,200.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.00% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC bought a new position in Alnylam Pharmaceuticals during the second quarter worth $128,000. Janney Montgomery Scott LLC bought a new position in Alnylam Pharmaceuticals during the second quarter worth $223,000. Seven Eight Capital LLC raised its position in Alnylam Pharmaceuticals by 200.0% in the first quarter. Seven Eight Capital LLC now owns 2,700 shares of the biopharmaceutical company’s stock worth $169,000 after buying an additional 1,800 shares during the period. Meeder Asset Management Inc. bought a new position in Alnylam Pharmaceuticals during the second quarter worth $175,000. Finally, BlueMountain Capital Management LLC raised its position in Alnylam Pharmaceuticals by 89.3% in the first quarter. BlueMountain Capital Management LLC now owns 3,179 shares of the biopharmaceutical company’s stock worth $200,000 after buying an additional 1,500 shares during the period. 85.96% of the stock is owned by institutional investors.

Alnylam Pharmaceuticals Company Profile

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