Mackenzie Financial Corp Grows Position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Key Points

• Mackenzie Financial Corp increased its stake in Alnylam Pharmaceuticals by 7.1% in the first quarter, now owning 9,485 shares valued at approximately $2.56 million.
• Alnylam Pharmaceuticals reported a loss of $0.44 EPS for the last quarter, missing consensus estimates, but generated $594.19 million in revenue, surpassing expectations.
• Wall Street analysts have shown confidence in Alnylam, with multiple firms raising their price targets, resulting in a consensus rating of "Moderate Buy" and an average target price of $392.13.

Mackenzie Financial Corp grew its holdings in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 7.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,485 shares of the biopharmaceutical company's stock after purchasing an additional 626 shares during the period. Mackenzie Financial Corp's holdings in Alnylam Pharmaceuticals were worth $2,561,000 at the end of the most recent quarter.

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

Alnylam Pharmaceuticals Trading Up 1.2%

ALNY stock traded up $4.94 during midday trading on Wednesday, reaching $423.85. 577,539 shares of the company's stock traded hands, compared to its average volume of 933,770. The company has a debt-to-equity ratio of 4.10, a current ratio of 2.80 and a quick ratio of 2.98. Alnylam Pharmaceuticals, Inc. has a fifty-two week low of $205.87 and a fifty-two week high of $426.76. The business has a 50-day moving average price of $323.41 and a two-hundred day moving average price of $281.19. The company has a market capitalization of $55.56 billion, a P/E ratio of -171.78 and a beta of 0.25.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.86. The business had revenue of $773,689 billion for the quarter, compared to the consensus estimate of $633.54 million. Alnylam Pharmaceuticals had a negative net margin of 12.96% and a negative return on equity of 273.52%. Alnylam Pharmaceuticals's quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.13) earnings per share. Equities research analysts forecast that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on ALNY. JPMorgan Chase & Co. upped their target price on shares of Alnylam Pharmaceuticals from $338.00 to $348.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Jefferies Financial Group raised their target price on shares of Alnylam Pharmaceuticals from $328.00 to $384.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Piper Sandler raised their price target on shares of Alnylam Pharmaceuticals from $304.00 to $449.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Raymond James Financial initiated coverage on shares of Alnylam Pharmaceuticals in a research note on Wednesday, July 30th. They set an "outperform" rating and a $370.00 price target on the stock. Finally, BMO Capital Markets boosted their price target 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. Four equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $396.04.

Insider Buying and Selling

In related news, CEO Yvonne Greenstreet sold 31,640 shares of the business's stock in a transaction on 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 directly owned 48,948 shares in the company, valued at approximately $14,899,281.72. The trade was a 39.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company's stock.

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.