Alnylam Pharmaceuticals, Inc. $ALNY Position Reduced by DNB Asset Management AS

Key Points

• DNB Asset Management AS reduced its Alnylam Pharmaceuticals stake by 10.4% in the fourth quarter, selling 3,561 shares and ending with 30,707 shares valued at about $12.2 million.
• Alnylam’s latest earnings beat expectations, with quarterly EPS of $1.99 versus the $0.87 estimate and revenue of $1.17 billion, up 96.4% from a year earlier.
• Wall Street remains generally positive on ALNY, with an average rating of “Moderate Buy” and a consensus price target of $471.96, despite some analysts trimming their price objectives.

DNB Asset Management AS trimmed its stake in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 10.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,707 shares of the biopharmaceutical company's stock after selling 3,561 shares during the quarter. DNB Asset Management AS's holdings in Alnylam Pharmaceuticals were worth $12,211,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ALNY. Root Financial Partners LLC bought a new position in Alnylam Pharmaceuticals during the 3rd quarter valued at $25,000. Caitong International Asset Management Co. Ltd bought a new position in Alnylam Pharmaceuticals during the 3rd quarter valued at $29,000. Ameriflex Group Inc. bought a new position in Alnylam Pharmaceuticals during the 3rd quarter valued at $32,000. Aster Capital Management DIFC Ltd bought a new position in Alnylam Pharmaceuticals during the 3rd quarter valued at $36,000. Finally, Quent Capital LLC bought a new position in Alnylam Pharmaceuticals during the 3rd quarter valued at $39,000. 92.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on ALNY shares. Wall Street Zen upgraded shares of Alnylam Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Bank of America reiterated a "buy" rating on shares of Alnylam Pharmaceuticals in a research note on Thursday, February 12th. Weiss Ratings upgraded shares of Alnylam Pharmaceuticals from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, May 4th. Needham & Company LLC lowered their price objective on shares of Alnylam Pharmaceuticals from $529.00 to $510.00 and set a "buy" rating for the company in a research report on Thursday, February 12th. Finally, Royal Bank Of Canada lowered their price objective on shares of Alnylam Pharmaceuticals from $450.00 to $445.00 and set an "outperform" rating for the company in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Alnylam Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $471.96.

Insider Transactions at Alnylam Pharmaceuticals

In related news, insider Melissa Mclaughlin sold 2,286 shares of Alnylam Pharmaceuticals stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $330.42, for a total value of $755,340.12. Following the sale, the insider directly owned 9,443 shares in the company, valued at $3,120,156.06. This trade represents 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, EVP Kevin Joseph Fitzgerald sold 1,652 shares of Alnylam Pharmaceuticals stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $319.73, for a total transaction of $528,193.96. Following the completion of the sale, the executive vice president owned 21,860 shares in the company, valued at approximately $6,989,297.80. This represents a 7.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,296 shares of company stock worth $7,607,867 over the last 90 days. Corporate insiders own 0.86% of the company's stock.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ:ALNY opened at $286.98 on Monday. The company has a quick ratio of 3.06, a current ratio of 3.13 and a debt-to-equity ratio of 0.94. Alnylam Pharmaceuticals, Inc. has a fifty-two week low of $280.60 and a fifty-two week high of $495.55. The firm has a 50-day simple moving average of $313.77 and a 200 day simple moving average of $364.74. The company has a market cap of $38.31 billion, a PE ratio of 78.41 and a beta of 0.31.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. Alnylam Pharmaceuticals had a net margin of 11.72% and a return on equity of 85.76%. Alnylam Pharmaceuticals's quarterly revenue was up 96.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.44) EPS. On average, sell-side analysts anticipate that Alnylam Pharmaceuticals, Inc. will post 7.36 EPS for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.