Alnylam Pharmaceuticals, Inc. $ALNY Holdings Reduced by Candriam S.C.A.

Key Points

• Candriam S.C.A. trimmed its Alnylam stake by 2.4% in the third quarter, selling 7,579 shares and retaining 306,933 shares valued at about $76 million.
• Institutional investors own 92.97% of the company. While several funds established new positions, Pictet Asset Management increased its stake by 77.7% in the third quarter.
• Alnylam reported quarterly revenue of $1.46 billion, up 16.7% year over year and above estimates. Analysts’ consensus rating was “Moderate Buy,” with a consensus price target of $305.86.

Candriam S.C.A. decreased its position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 306,933 shares of the biopharmaceutical company's stock after selling 7,579 shares during the period. Candriam S.C.A. owned approximately 0.23% of Alnylam Pharmaceuticals worth $76,009,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Legal & General Group Plc bought a new position in Alnylam Pharmaceuticals in the 2nd quarter worth approximately $278,321,000. Bank of New York Mellon Corp acquired a new stake in Alnylam Pharmaceuticals in the 2nd quarter valued at approximately $148,128,000. Canada Pension Plan Investment Board bought a new stake in Alnylam Pharmaceuticals during the 2nd quarter valued at $100,618,000. Korea Investment CORP bought a new stake in Alnylam Pharmaceuticals during the 2nd quarter valued at $74,553,000. Finally, Pictet Asset Management Holding SA raised its stake in Alnylam Pharmaceuticals by 77.7% during the 3rd quarter. Pictet Asset Management Holding SA now owns 495,168 shares of the biopharmaceutical company's stock valued at $122,783,000 after acquiring an additional 216,555 shares in the last quarter. Institutional investors and hedge funds own 92.97% of the company's stock.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ:ALNY opened at $155.94 on Friday. The stock has a market cap of $20.89 billion, a price-to-earnings ratio of 8.10 and a beta of 0.42. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.48 and a quick ratio of 2.43. Alnylam Pharmaceuticals, Inc. has a 12 month low of $154.30 and a 12 month high of $479.79. The stock's 50 day moving average price is $228.57 and its 200 day moving average price is $281.10.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported $16.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $14.60. Alnylam Pharmaceuticals had a return on equity of 155.33% and a net margin of 52.85%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the company posted $2.90 EPS. The firm's quarterly revenue was up 16.7% on a year-over-year basis. Equities research analysts anticipate that Alnylam Pharmaceuticals, Inc. will post 6.85 earnings per share for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In other news, EVP Bryan Supran sold 1,758 shares of the company's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $226.88, for a total value of $398,855.04. Following the completion of the sale, the executive vice president owned 12,807 shares in the company, valued at $2,905,652.16. This represents a 12.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Truist Financial lowered Alnylam Pharmaceuticals from a "buy" rating to a "hold" rating and reduced their price target for the stock from $315.00 to $225.00 in a research report on Monday, November 2nd. Oppenheimer cut their price objective on shares of Alnylam Pharmaceuticals from $350.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, October 30th. Stifel Nicolaus cut shares of Alnylam Pharmaceuticals from a "buy" rating to a "hold" rating and set a $225.00 price objective on the stock. in a research note on Thursday, October 29th. UBS Group reduced their price objective on shares of Alnylam Pharmaceuticals from $550.00 to $329.00 and set a "buy" rating for the company in a report on Friday, October 30th. Finally, Morgan Stanley decreased their target price on shares of Alnylam Pharmaceuticals from $300.00 to $240.00 and set an "equal weight" rating for the company in a research report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $305.86.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals is a biopharmaceutical company focused on discovering, developing and commercializing medicines based on RNA interference (RNAi), a biological process that can reduce the production of specific disease-causing proteins. Founded in 2002 and headquartered in Cambridge, Massachusetts, the company helped advance RNAi from a scientific discovery into a therapeutic approach.

Its marketed medicines include ONPATTRO (patisiran) and AMVUTTRA (vutrisiran) for hereditary transthyretin-mediated amyloidosis, GIVLAARI (givosiran) for acute hepatic porphyria, and OXLUMO (lumasiran) for primary hyperoxaluria type 1.

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