TD Asset Management Inc Has $131.39 Million Position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Key Points

• TD Asset Management Inc reduced its stake in Alnylam Pharmaceuticals by 3.5%, owning 0.37% of the company, which translates to approximately $131.4 million after the sale.
• Alnylam reported a quarterly revenue of $594.19 million, up 20.2% compared to the previous year, but missed earnings per share estimates by $0.07.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Alnylam, with an average price target of $347.75, reflecting overall positive sentiment.

TD Asset Management Inc lowered its position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 3.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 486,584 shares of the biopharmaceutical company's stock after selling 17,454 shares during the quarter. TD Asset Management Inc owned approximately 0.37% of Alnylam Pharmaceuticals worth $131,387,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Park Square Financial Group LLC bought a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at about $28,000. Whipplewood Advisors LLC boosted its stake in shares of Alnylam Pharmaceuticals by 208.8% in the 1st quarter. Whipplewood Advisors LLC now owns 105 shares of the biopharmaceutical company's stock valued at $28,000 after purchasing an additional 71 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Alnylam Pharmaceuticals by 176.9% in the 1st quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 69 shares during the last quarter. Colonial Trust Co SC bought a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at about $35,000. Finally, Washington Trust Advisors Inc. boosted its stake in shares of Alnylam Pharmaceuticals by 53.5% in the 1st quarter. Washington Trust Advisors Inc. now owns 175 shares of the biopharmaceutical company's stock valued at $47,000 after purchasing an additional 61 shares during the last quarter. Institutional investors and hedge funds own 92.97% of the company's stock.

Analysts Set New Price Targets

ALNY has been the topic of several recent analyst reports. Truist Financial initiated coverage on shares of Alnylam Pharmaceuticals in a research note on Monday, July 21st. They set a "buy" rating and a $385.00 price objective on the stock. Wall Street Zen raised shares of Alnylam Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Bank of America lifted their price objective on shares of Alnylam Pharmaceuticals from $336.00 to $359.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Citigroup lifted their price objective on shares of Alnylam Pharmaceuticals from $364.00 to $404.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, BMO Capital Markets lifted their price objective on shares of Alnylam Pharmaceuticals from $300.00 to $360.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $350.75.

Insiders Place Their Bets

In related news, CEO Yvonne Greenstreet sold 31,640 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $304.39, for a total transaction of $9,630,899.60. Following the transaction, the chief executive officer directly owned 48,948 shares in the company, valued at approximately $14,899,281.72. The trade was a 39.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.20% of the company's stock.

Alnylam Pharmaceuticals Stock Up 3.9%

Shares of NASDAQ ALNY traded up $12.95 during midday trading on Wednesday, reaching $343.50. The company's stock had a trading volume of 853,036 shares, compared to its average volume of 895,013. The company has a current ratio of 3.04, a quick ratio of 2.98 and a debt-to-equity ratio of 8.88. Alnylam Pharmaceuticals, Inc. has a fifty-two week low of $205.87 and a fifty-two week high of $345.98. The stock has a market capitalization of $44.79 billion, a price-to-earnings ratio of -164.26 and a beta of 0.23. The stock has a 50 day simple moving average of $312.22 and a 200-day simple moving average of $275.76.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.07). The firm had revenue of $594.19 million for the quarter, compared to analyst estimates of $584.32 million. Alnylam Pharmaceuticals had a negative return on equity of 510.31% and a negative net margin of 11.49%. Alnylam Pharmaceuticals's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. Equities research analysts predict 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.