3,290 Shares in Alnylam Pharmaceuticals, Inc. $ALNY Acquired by SBI Okasan Asset Management Co.Ltd.

Key Points

• SBI Okasan Asset Management opened a new position in Alnylam Pharmaceuticals, buying 3,290 shares valued at about $1.31 million in the fourth quarter.
• Alnylam reported strong quarterly results, posting EPS of $1.99 versus $0.87 expected and revenue of $1.17 billion, with sales up 96.4% year over year.
• Despite insider selling and mixed analyst target cuts, Wall Street still largely remains positive: the stock carries a Moderate Buy consensus with an average price target of $463.13.

SBI Okasan Asset Management Co.Ltd. bought a new position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,290 shares of the biopharmaceutical company's stock, valued at approximately $1,312,000.

Several other hedge funds have also added to or reduced their stakes in the business. Mediolanum International Funds Ltd purchased a new stake in shares of Alnylam Pharmaceuticals during the third quarter valued at approximately $11,389,000. iA Global Asset Management Inc. increased its position in shares of Alnylam Pharmaceuticals by 979.5% during the fourth quarter. iA Global Asset Management Inc. now owns 17,780 shares of the biopharmaceutical company's stock valued at $7,070,000 after acquiring an additional 16,133 shares during the last quarter. Perpetual Ltd purchased a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter valued at approximately $2,004,000. Vanguard Group Inc. increased its position in shares of Alnylam Pharmaceuticals by 2.0% during the third quarter. Vanguard Group Inc. now owns 13,565,452 shares of the biopharmaceutical company's stock valued at $6,185,846,000 after acquiring an additional 268,313 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Alnylam Pharmaceuticals by 24.2% during the third quarter. Envestnet Asset Management Inc. now owns 118,964 shares of the biopharmaceutical company's stock valued at $54,248,000 after acquiring an additional 23,168 shares during the last quarter. 92.97% of the stock is currently owned by institutional investors and hedge funds.

Alnylam Pharmaceuticals Trading Up 3.2%

Shares of Alnylam Pharmaceuticals stock opened at $305.06 on Friday. The stock has a market capitalization of $40.73 billion, a P/E ratio of 83.35 and a beta of 0.31. Alnylam Pharmaceuticals, Inc. has a 52-week low of $284.28 and a 52-week high of $495.55. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.06 and a current ratio of 3.13. The stock's 50-day simple moving average is $309.63 and its 200 day simple moving average is $355.11.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $0.87 by $1.12. The company 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 firm's quarterly revenue was up 96.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.44) earnings per share. As a group, research analysts anticipate that Alnylam Pharmaceuticals, Inc. will post 7.36 EPS for the current year.

Wall Street Analysts Forecast Growth

ALNY has been the subject of a number of research analyst reports. Freedom Capital raised Alnylam Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 17th. Jefferies Financial Group reissued a "hold" rating and issued a $330.00 target price (down from $522.00) on shares of Alnylam Pharmaceuticals in a research report on Monday, March 16th. Truist Financial decreased their target price on Alnylam Pharmaceuticals from $515.00 to $505.00 and set a "buy" rating for the company in a research report on Monday, April 13th. Citigroup assumed coverage on Alnylam Pharmaceuticals in a research report on Tuesday, May 19th. They issued a "buy" rating and a $380.00 target price for the company. Finally, Royal Bank Of Canada decreased their target price on Alnylam Pharmaceuticals from $450.00 to $445.00 and set an "outperform" rating for the company in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $463.13.

Insider Buying and Selling

In related news, insider Melissa Mclaughlin sold 2,286 shares of the business's stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $330.42, for a total transaction of $755,340.12. Following the completion of the transaction, the insider directly owned 9,443 shares in the company, valued at $3,120,156.06. The trade was a 19.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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, CEO Yvonne Greenstreet sold 6,799 shares of the business's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $327.65, for a total value of $2,227,692.35. Following the transaction, the chief executive officer owned 98,628 shares of the company's stock, valued at approximately $32,315,464.20. The trade was a 6.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 21,255 shares of company stock valued at $6,930,337 in the last 90 days. Corporate insiders own 0.86% of the company's stock.

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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