Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $72.55, but opened at $76.05. Alnylam Pharmaceuticals shares last traded at $74.49, with a volume of 27450 shares traded.
The biopharmaceutical company reported ($2.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.02) by ($0.41). The company had revenue of $2.07 million during the quarter, compared to the consensus estimate of $22.66 million. Alnylam Pharmaceuticals had a negative return on equity of 38.09% and a negative net margin of 533.52%. The company’s revenue for the quarter was down 87.9% on a year-over-year basis. During the same period last year, the business posted ($1.34) EPS.
Several analysts recently issued reports on ALNY shares. BidaskClub raised Alnylam Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, July 13th. Piper Jaffray Companies reissued an “overweight” rating on shares of Alnylam Pharmaceuticals in a report on Monday, July 23rd. Cowen reissued a “buy” rating and issued a $157.00 price target on shares of Alnylam Pharmaceuticals in a report on Thursday, August 2nd. BMO Capital Markets reissued a “buy” rating and issued a $127.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, August 3rd. Finally, Chardan Capital reissued a “buy” rating and issued a $180.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, August 3rd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $142.94.
In other Alnylam Pharmaceuticals news, COO Yvonne Greenstreet sold 2,500 shares of Alnylam Pharmaceuticals stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $120.00, for a total transaction of $300,000.00. Following the sale, the chief operating officer now owns 1,916 shares of the company’s stock, valued at approximately $229,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.30% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. FMR LLC increased its position in shares of Alnylam Pharmaceuticals by 0.4% during the 2nd quarter. FMR LLC now owns 15,078,361 shares of the biopharmaceutical company’s stock valued at $1,485,068,000 after purchasing an additional 52,653 shares during the period. Baillie Gifford & Co. increased its position in shares of Alnylam Pharmaceuticals by 10.4% during the 2nd quarter. Baillie Gifford & Co. now owns 4,231,881 shares of the biopharmaceutical company’s stock valued at $416,798,000 after purchasing an additional 397,668 shares during the period. BB Biotech AG increased its position in shares of Alnylam Pharmaceuticals by 20.2% during the 3rd quarter. BB Biotech AG now owns 1,370,538 shares of the biopharmaceutical company’s stock valued at $119,949,000 after purchasing an additional 230,000 shares during the period. Point72 Asset Management L.P. increased its position in shares of Alnylam Pharmaceuticals by 49.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,356,408 shares of the biopharmaceutical company’s stock valued at $133,593,000 after purchasing an additional 448,362 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Alnylam Pharmaceuticals by 42.0% during the 3rd quarter. First Trust Advisors LP now owns 937,025 shares of the biopharmaceutical company’s stock valued at $82,008,000 after purchasing an additional 277,259 shares during the period. 90.37% of the stock is currently owned by hedge funds and other institutional investors.
The stock has a market cap of $8.69 billion, a PE ratio of -13.36 and a beta of 2.54. The company has a debt-to-equity ratio of 0.02, a current ratio of 13.22 and a quick ratio of 13.22.
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About Alnylam Pharmaceuticals (NASDAQ:ALNY)
Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, discovers, develops, and commercializes novel therapeutics based on RNA interference (RNAi). Its pipeline of investigational RNAi therapeutics focuses on genetic medicines, cardio-metabolic diseases, and hepatic infectious diseases. The company's clinical development programs include Patisiran, which is in Phase III clinical trial for the treatment of hereditary transthyretin-mediated amyloidosis; Givosiran that is in Phase III trial to treat acute hepatic porphyrias; Fitusiran, an investigational RNAi therapeutic that is in Phase II open-label extension and Phase III clinical trial for the treatment of hemophilia and rare bleeding disorders; and Inclisiran, which is in III clinical trial for hypercholesterolemia.
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