23,477 Shares in Alnylam Pharmaceuticals, Inc. $ALNY Bought by OP Asset Management Ltd

Key Points

• OP Asset Management initiated a new stake in Alnylam Pharmaceuticals during the first quarter, buying 23,477 shares valued at about $7.77 million.
• Alnylam’s latest quarterly results were strong, with EPS of $1.99 beating expectations and revenue of $1.17 billion topping estimates as sales nearly doubled year over year.
• Despite the solid earnings, the stock was trading around $293.17, well below its 52-week high of $495.55, while analysts maintained a generally positive view with a Moderate Buy consensus.

OP Asset Management Ltd purchased a new stake in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 23,477 shares of the biopharmaceutical company's stock, valued at approximately $7,768,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALNY. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Alnylam Pharmaceuticals during the 3rd quarter worth about $29,000. MV Capital Management Inc. acquired a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter valued at about $25,000. HM Payson & Co. purchased a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at about $27,000. Ameriflex Group Inc. purchased a new position in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at about $32,000. Finally, Golden State Wealth Management LLC raised its holdings in Alnylam Pharmaceuticals by 100.0% in the 4th quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 36 shares during the period. Hedge funds and other institutional investors own 92.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ALNY shares. Truist Financial lowered their price target on Alnylam Pharmaceuticals from $515.00 to $505.00 and set a "buy" rating on the stock in a research report on Monday, April 13th. Weiss Ratings raised Alnylam Pharmaceuticals from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, May 4th. Jefferies Financial Group reiterated a "hold" rating and set a $330.00 target price (down from $522.00) on shares of Alnylam Pharmaceuticals in a research report on Monday, March 16th. Wells Fargo & Company lifted their price target on shares of Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the company an "equal weight" rating in a research note on Friday, May 1st. Finally, Royal Bank Of Canada cut their price target on shares of Alnylam Pharmaceuticals from $450.00 to $445.00 and set an "outperform" rating for the company in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, Alnylam Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $463.13.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, insider Melissa Mclaughlin sold 2,286 shares of Alnylam Pharmaceuticals stock in a transaction on Monday, April 6th. The shares were sold at an average price of $330.42, for a total transaction of $755,340.12. Following the sale, the insider owned 9,443 shares of the company's stock, valued at $3,120,156.06. The trade was a 19.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director David E. I. Pyott sold 3,830 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the sale, the director directly owned 1,582 shares of the company's stock, valued at $473,302.76. The trade was a 70.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 7,740 shares of company stock valued at $2,420,214. 0.86% of the stock is owned by corporate insiders.

Alnylam Pharmaceuticals Trading Down 0.3%

ALNY stock opened at $293.17 on Friday. Alnylam Pharmaceuticals, Inc. has a 12-month low of $273.11 and a 12-month high of $495.55. The business's 50-day moving average is $297.10 and its 200 day moving average is $332.36. The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94. The stock has a market cap of $39.14 billion, a price-to-earnings ratio of 80.10 and a beta of 0.29.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $1.12. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.12 billion. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The business's revenue was up 96.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.44) earnings per share. On average, sell-side analysts anticipate that Alnylam Pharmaceuticals, Inc. will post 7.47 EPS for the current fiscal year.

About Alnylam Pharmaceuticals

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.

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