Westfield Capital Management Co. LP Sells 23,954 Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Key Points

• Westfield Capital Management Co. LP has reduced its holdings in Alnylam Pharmaceuticals by 11.1%, now owning 192,172 shares valued at approximately $51.89 million.
• Wall Street analysts have upgraded Alnylam Pharmaceuticals' stock rating to "buy", with price targets set as high as $460.00.
• Alnylam Pharmaceuticals reported earnings of $0.32 per share for the last quarter, exceeding estimates by $0.86, with revenue showing a 17.3% increase year-over-year.

Westfield Capital Management Co. LP cut its stake in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 11.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 192,172 shares of the biopharmaceutical company's stock after selling 23,954 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.15% of Alnylam Pharmaceuticals worth $51,890,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Capital World Investors lifted its holdings in Alnylam Pharmaceuticals by 0.6% in the 4th quarter. Capital World Investors now owns 16,600,525 shares of the biopharmaceutical company's stock worth $3,906,284,000 after purchasing an additional 92,101 shares in the last quarter. Capital Research Global Investors lifted its holdings in Alnylam Pharmaceuticals by 32.9% in the 4th quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company's stock worth $1,639,767,000 after purchasing an additional 1,724,610 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Alnylam Pharmaceuticals by 39.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company's stock worth $1,031,705,000 after purchasing an additional 1,245,195 shares in the last quarter. Winslow Capital Management LLC lifted its holdings in Alnylam Pharmaceuticals by 6.1% in the 4th quarter. Winslow Capital Management LLC now owns 1,020,567 shares of the biopharmaceutical company's stock worth $240,150,000 after purchasing an additional 58,960 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Alnylam Pharmaceuticals by 19.6% in the 4th quarter. Northern Trust Corp now owns 878,860 shares of the biopharmaceutical company's stock worth $206,805,000 after purchasing an additional 143,941 shares in the last quarter. 92.97% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Yvonne Greenstreet sold 31,640 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $304.39, for a total transaction of $9,630,899.60. Following the sale, the chief executive officer owned 48,948 shares of the company's stock, valued at $14,899,281.72. This trade represents a 39.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ALNY shares. Wolfe Research raised Alnylam Pharmaceuticals from an "underperform" rating to a "peer perform" rating in a report on Monday, August 4th. Citigroup upped their price objective on Alnylam Pharmaceuticals from $364.00 to $404.00 and gave the stock a "buy" rating in a report on Friday, July 11th. UBS Group upped their price objective on Alnylam Pharmaceuticals from $403.00 to $550.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Needham & Company LLC upped their price objective on Alnylam Pharmaceuticals from $377.00 to $478.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, Oppenheimer raised Alnylam Pharmaceuticals from a "market perform" rating to an "outperform" rating and set a $490.00 price objective on the stock in a report on Monday, August 4th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $403.92.

Alnylam Pharmaceuticals Stock Up 0.9%

Shares of ALNY traded up $3.83 during midday trading on Friday, reaching $438.93. 901,269 shares of the stock were exchanged, compared to its average volume of 1,207,924. Alnylam Pharmaceuticals, Inc. has a 52 week low of $205.87 and a 52 week high of $439.36. The company has a current ratio of 2.80, a quick ratio of 2.98 and a debt-to-equity ratio of 4.10. The company's 50 day moving average is $331.79 and its two-hundred day moving average is $284.70. The company has a market capitalization of $57.53 billion, a P/E ratio of -177.70 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, topping analysts' consensus estimates of ($0.54) by $0.86. Alnylam Pharmaceuticals had a negative return on equity of 273.52% and a negative net margin of 12.96%. The business had revenue of $773,689 billion for the quarter, compared to the consensus estimate of $633.54 million. During the same quarter in the prior year, the company earned ($0.13) EPS. The business's revenue was up 17.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

Alnylam Pharmaceuticals 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.