Wealthfront Advisers LLC Makes New Investment in Alnylam Pharmaceuticals, Inc. $ALNY

Wealthfront Advisers LLC bought a new stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,554 shares of the biopharmaceutical company’s stock, valued at approximately $2,876,000.

A number of other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Alnylam Pharmaceuticals during the 4th quarter worth $895,816,000. Qube Research & Technologies Ltd purchased a new position in Alnylam Pharmaceuticals during the 3rd quarter valued at about $369,943,000. AQR Capital Management LLC increased its holdings in Alnylam Pharmaceuticals by 295.2% during the 3rd quarter. AQR Capital Management LLC now owns 744,008 shares of the biopharmaceutical company’s stock valued at $336,009,000 after acquiring an additional 555,759 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Alnylam Pharmaceuticals during the second quarter worth about $148,128,000. Finally, Orbis Allan Gray Ltd raised its position in 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 acquiring an additional 486,489 shares during the last quarter. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ALNY shares. Raymond James Financial upgraded shares of Alnylam Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and set a $420.00 price target on the stock in a research report on Monday, August 3rd. Bank of America reduced their target price on Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating on the stock in a research note on Tuesday, July 14th. Chardan Capital reiterated a “buy” rating and set a $425.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, July 31st. HC Wainwright dropped their price target on Alnylam Pharmaceuticals from $485.00 to $455.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Finally, Citigroup cut their price target on Alnylam Pharmaceuticals from $380.00 to $340.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $386.62.

Alnylam Pharmaceuticals News Roundup

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

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $299.18, for a total value of $1,145,859.40. Following the completion of the transaction, the director directly owned 1,582 shares in the company, valued at approximately $473,302.76. The trade was a 70.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.86% of the company’s stock.

Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ ALNY opened at $229.30 on Friday. The company has a 50-day simple moving average of $267.95 and a 200-day simple moving average of $297.75. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.05 and a quick ratio of 2.99. The company has a market cap of $30.68 billion, a PE ratio of 42.62 and a beta of 0.30. Alnylam Pharmaceuticals, Inc. has a 12 month low of $197.81 and a 12 month high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.21. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the firm posted ($0.51) earnings per share. The company’s quarterly revenue was up 66.9% compared to the same quarter last year. On average, equities analysts anticipate that Alnylam Pharmaceuticals, Inc. will post 6.59 earnings per share for the current year.

Alnylam Pharmaceuticals 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.