Allstate Corp Increases Stock Position in Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• Allstate Corp has increased its stake in Alnylam Pharmaceuticals by 23.8%, owning 4,701 shares worth approximately $1.27 million after adding 903 shares in the first quarter.
• Alnylam Pharmaceuticals reported a positive earnings surprise with $0.32 per share, exceeding analysts' expectations of ($0.54), alongside a 17.3% year-over-year revenue increase.
• The stock of Alnylam Pharmaceuticals is currently rated as a "Moderate Buy" with a consensus price target of $405.33, with several brokerages raising their target prices recently.

Allstate Corp lifted its position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 23.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,701 shares of the biopharmaceutical company's stock after purchasing an additional 903 shares during the period. Allstate Corp's holdings in Alnylam Pharmaceuticals were worth $1,269,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Investment Management Corp of Ontario boosted its stake in Alnylam Pharmaceuticals by 0.6% during the 4th quarter. Investment Management Corp of Ontario now owns 7,099 shares of the biopharmaceutical company's stock valued at $1,670,000 after purchasing an additional 40 shares during the last quarter. Brevan Howard Capital Management LP boosted its stake in Alnylam Pharmaceuticals by 3.4% during the 4th quarter. Brevan Howard Capital Management LP now owns 1,333 shares of the biopharmaceutical company's stock valued at $314,000 after purchasing an additional 44 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Alnylam Pharmaceuticals by 9.2% during the 1st quarter. Lindbrook Capital LLC now owns 596 shares of the biopharmaceutical company's stock valued at $161,000 after purchasing an additional 50 shares during the last quarter. SYM FINANCIAL Corp boosted its stake in Alnylam Pharmaceuticals by 5.3% during the 1st quarter. SYM FINANCIAL Corp now owns 1,014 shares of the biopharmaceutical company's stock valued at $274,000 after purchasing an additional 51 shares during the last quarter. Finally, Ballentine Partners LLC boosted its stake in Alnylam Pharmaceuticals by 3.3% during the 1st quarter. Ballentine Partners LLC now owns 1,625 shares of the biopharmaceutical company's stock valued at $439,000 after purchasing an additional 52 shares during the last quarter. Institutional investors own 92.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ALNY shares. Needham & Company LLC boosted their target price on Alnylam Pharmaceuticals from $377.00 to $478.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Wells Fargo & Company boosted their target price on Alnylam Pharmaceuticals from $333.00 to $395.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. BMO Capital Markets boosted their target price on Alnylam Pharmaceuticals from $300.00 to $360.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. JPMorgan Chase & Co. boosted their target price on Alnylam Pharmaceuticals from $348.00 to $475.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Finally, Truist Financial started coverage on Alnylam Pharmaceuticals in a research note on Monday, July 21st. They issued a "buy" rating and a $385.00 target price on the stock. Twenty-two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $405.33.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, Director Dennis A. Ausiello sold 31,448 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $436.58, for a total transaction of $13,729,567.84. Following the sale, the director owned 911 shares in the company, valued at $397,724.38. This represents a 97.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael W. Bonney sold 11,250 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $450.00, for a total transaction of $5,062,500.00. Following the completion of the sale, the director owned 16,804 shares in the company, valued at $7,561,800. This represents a 40.10% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,891 shares of company stock valued at $31,456,338. 1.50% of the stock is currently owned by company insiders.

Alnylam Pharmaceuticals Price Performance

NASDAQ:ALNY traded down $4.14 during midday trading on Friday, hitting $448.19. The company had a trading volume of 271,436 shares, compared to its average volume of 954,858. The stock's fifty day moving average price is $371.83 and its 200-day moving average price is $301.51. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 4.10. Alnylam Pharmaceuticals, Inc. has a 52-week low of $205.87 and a 52-week high of $469.81. The company has a market capitalization of $58.75 billion, a PE ratio of -180.67 and a beta of 0.25.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.86. Alnylam Pharmaceuticals had a negative net margin of 12.96% and a negative return on equity of 273.52%. The business had revenue of $773.69 million during the quarter, compared to analyst estimates of $633.54 million. During the same period in the prior year, the business posted ($0.13) earnings per share. The company's revenue was up 17.3% on a year-over-year basis. Alnylam Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, research analysts expect that Alnylam Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

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.