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

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

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,000 shares of the company’s 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 owns 73,441 shares of the company’s stock, valued at approximately $20,563,480. This represents a 16.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Alnylam Pharmaceuticals by 572.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 143 shares during the period. Janney Montgomery Scott LLC grew its holdings in Alnylam Pharmaceuticals by 47.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 2,775 shares of the biopharmaceutical company’s stock worth $415,000 after buying an additional 892 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Alnylam Pharmaceuticals by 10.1% during the first quarter. ProShare Advisors LLC now owns 8,827 shares of the biopharmaceutical company’s stock valued at $1,319,000 after purchasing an additional 809 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in Alnylam Pharmaceuticals by 0.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 137,022 shares of the biopharmaceutical company’s stock worth $20,478,000 after purchasing an additional 1,135 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Alnylam Pharmaceuticals by 22.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 68,790 shares of the biopharmaceutical company’s stock worth $10,281,000 after purchasing an additional 12,646 shares during the period. 92.97% of the stock is currently owned by institutional investors.

Alnylam Pharmaceuticals Price Performance

ALNY opened at $235.56 on Friday. The company has a market capitalization of $30.38 billion, a P/E ratio of -89.91 and a beta of 0.39. The company has a 50-day moving average of $274.95 and a 200-day moving average of $234.30. The company has a debt-to-equity ratio of 31.64, a quick ratio of 2.69 and a current ratio of 2.75. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share 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 analysts’ expectations of $532.91 million. During the same period in the prior year, the company posted $1.15 earnings per share. The firm’s revenue was down 33.3% compared to the same quarter last year. Equities analysts expect that Alnylam Pharmaceuticals will post -2.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ALNY shares. Needham & Company LLC restated a “buy” rating and set a $320.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. Raymond James raised their price objective on Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Bank of America upped their target price on Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, November 1st. Finally, The Goldman Sachs Group upgraded shares of Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $198.00 to $370.00 in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, Alnylam Pharmaceuticals has an average rating of “Moderate Buy” and an average 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.