Assenagon Asset Management S.A. Purchases 11,281 Shares of Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• Assenagon Asset Management S.A. has increased its stake in Alnylam Pharmaceuticals by 176.1%, acquiring an additional 11,281 shares, bringing its total holdings to 17,686 shares valued at approximately $5.77 million.
• In the latest quarterly earnings report, Alnylam Pharmaceuticals achieved $0.32 EPS, surpassing analysts' expectations of ($0.54) and reflecting a 17.3% year-over-year revenue growth to $773.69 million.
• Multiple research analysts have raised their price targets for Alnylam Pharmaceuticals significantly, with estimates ranging from $370.00 to $550.00, indicating a generally optimistic outlook for the company.

Assenagon Asset Management S.A. grew its stake in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 176.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 17,686 shares of the biopharmaceutical company's stock after purchasing an additional 11,281 shares during the period. Assenagon Asset Management S.A.'s holdings in Alnylam Pharmaceuticals were worth $5,767,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of ALNY. Bessemer Group Inc. grew its holdings in shares of Alnylam Pharmaceuticals by 176.9% in the first quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 69 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Alnylam Pharmaceuticals in the first quarter worth $275,000. Strs Ohio purchased a new stake in shares of Alnylam Pharmaceuticals in the first quarter worth $7,781,000. GAMMA Investing LLC raised its position in shares of Alnylam Pharmaceuticals by 14.3% in the first quarter. GAMMA Investing LLC now owns 616 shares of the biopharmaceutical company's stock worth $166,000 after buying an additional 77 shares in the last quarter. Finally, Brighton Jones LLC purchased a new stake in Alnylam Pharmaceuticals during the fourth quarter valued at about $243,000. 92.97% of the stock is owned by institutional investors.

Alnylam Pharmaceuticals Stock Down 1.0%

Shares of NASDAQ:ALNY opened at $454.41 on Wednesday. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 4.10. Alnylam Pharmaceuticals, Inc. has a 12 month low of $205.87 and a 12 month high of $484.21. The company has a 50-day moving average price of $420.78 and a 200 day moving average price of $327.63. The company has a market cap of $59.56 billion, a price-to-earnings ratio of -183.97 and a beta of 0.32.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of ($0.54) by $0.86. Alnylam Pharmaceuticals had a negative net margin of 12.96% and a negative return on equity of 273.52%. The firm had revenue of $773.69 million during the quarter, compared to the consensus estimate of $633.54 million. During the same quarter last year, the firm earned ($0.13) EPS. The firm's revenue for the quarter was up 17.3% compared to the same quarter last year. Alnylam Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Alnylam Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ALNY shares. JPMorgan Chase & Co. raised their price target on Alnylam Pharmaceuticals from $348.00 to $475.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. UBS Group raised their target price on Alnylam Pharmaceuticals from $403.00 to $550.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Bank of America lifted their price objective on Alnylam Pharmaceuticals from $453.00 to $520.00 and gave the company a "buy" rating in a research report on Wednesday, September 17th. Raymond James Financial initiated coverage on Alnylam Pharmaceuticals in a report on Wednesday, July 30th. They set an "outperform" rating and a $370.00 target price on the stock. Finally, Needham & Company LLC upped their target price on Alnylam Pharmaceuticals from $377.00 to $478.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Twenty-four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $439.58.

Insider Transactions at Alnylam Pharmaceuticals

In related news, EVP Jeffrey V. Poulton sold 2,274 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $453.27, for a total value of $1,030,735.98. Following the completion of the transaction, the executive vice president owned 50,121 shares of the company's stock, valued at approximately $22,718,345.67. This trade represents a 4.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Colleen F. Reitan sold 18,000 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $467.60, for a total transaction of $8,416,800.00. Following the completion of the transaction, the director directly owned 775 shares of the company's stock, valued at approximately $362,390. The trade was a 95.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,594 shares of company stock worth $33,968,256 in the last quarter. Company insiders own 1.20% of the company's stock.

About Alnylam Pharmaceuticals

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.

Want to see what other hedge funds are holding ALNY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.