NewEdge Wealth LLC Takes Position in Alnylam Pharmaceuticals, Inc. $ALNY

NewEdge Wealth LLC purchased a new stake in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,094 shares of the biopharmaceutical company’s stock, valued at approximately $2,738,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Alnylam Pharmaceuticals by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 2,650,722 shares of the biopharmaceutical company’s stock valued at $1,056,884,000 after acquiring an additional 151,480 shares during the period. Norges Bank acquired a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter valued at $895,816,000. Orbis Allan Gray Ltd grew its holdings in shares of Alnylam Pharmaceuticals by 29.8% during the second quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company’s stock worth $691,771,000 after purchasing an additional 486,489 shares during the last quarter. Legal & General Group Plc increased its position in Alnylam Pharmaceuticals by 8.3% in the 4th quarter. Legal & General Group Plc now owns 961,496 shares of the biopharmaceutical company’s stock valued at $382,339,000 after acquiring an additional 73,716 shares during the period. Finally, AQR Capital Management LLC increased its holdings in Alnylam Pharmaceuticals by 23.6% in the fourth quarter. AQR Capital Management LLC now owns 919,959 shares of the biopharmaceutical company’s stock valued at $365,822,000 after purchasing an additional 175,951 shares during the period. Institutional investors and hedge funds own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Stock Down 5.5%

Shares of NASDAQ:ALNY opened at $229.30 on Friday. Alnylam Pharmaceuticals, Inc. has a 52-week low of $197.81 and a 52-week high of $495.55. The firm has a fifty day moving average of $267.95 and a 200 day moving average of $297.75. The firm has a market capitalization of $30.68 billion, a PE ratio of 42.62 and a beta of 0.30. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.99 and a current ratio of 3.05.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.21. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. Alnylam Pharmaceuticals had a return on equity of 84.93% and a net margin of 15.26%.The company’s revenue was up 66.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.51) earnings per share. As a group, research analysts anticipate that Alnylam Pharmaceuticals, Inc. will post 6.59 EPS for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, Director David E. I. Pyott sold 3,830 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $299.18, for a total value of $1,145,859.40. Following the completion of the sale, the director owned 1,582 shares of the company’s stock, valued at approximately $473,302.76. This represents a 70.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

ALNY has been the subject of several research analyst reports. Raymond James Financial raised Alnylam Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and set a $420.00 price objective for the company in a research report on Monday, August 3rd. Sanford C. Bernstein upgraded shares of Alnylam Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, July 29th. Weiss Ratings raised shares of Alnylam Pharmaceuticals from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Morgan Stanley decreased their target price on Alnylam Pharmaceuticals from $400.00 to $300.00 and set an “equal weight” rating for the company in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. reduced their price objective on Alnylam Pharmaceuticals from $400.00 to $375.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $386.62.

More Alnylam Pharmaceuticals News

Here are the key news stories impacting Alnylam Pharmaceuticals this week:

• Positive Sentiment: BMO Capital Markets upgraded Alnylam to “strong buy”, following its initiation of coverage with an “outperform” rating and a $318 price target. The bullish view could support investor confidence by indicating substantial potential upside from recent trading levels. Benzinga analyst coverage report TickerReport Alnylam coverage

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc (NASDAQ: ALNY) is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.