Beacon Investment Advisory Services Inc. Has $456,000 Position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Beacon Investment Advisory Services Inc. reduced its stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 54.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,688 shares of the biopharmaceutical company's stock after selling 2,033 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in Alnylam Pharmaceuticals were worth $456,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its holdings in 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 during the period. Crossmark Global Holdings Inc. purchased a new stake in Alnylam Pharmaceuticals during the 1st quarter worth about $275,000. GAMMA Investing LLC increased its position in Alnylam Pharmaceuticals by 14.3% during the 1st quarter. GAMMA Investing LLC now owns 616 shares of the biopharmaceutical company's stock worth $166,000 after purchasing an additional 77 shares in the last quarter. Brighton Jones LLC purchased a new stake in Alnylam Pharmaceuticals in the 4th quarter valued at about $243,000. Finally, Silvercrest Asset Management Group LLC purchased a new stake in Alnylam Pharmaceuticals in the 4th quarter valued at about $1,151,000. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Yvonne Greenstreet sold 31,640 shares of the 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 transaction, the chief executive officer owned 48,948 shares of the company's stock, valued at approximately $14,899,281.72. This represents a 39.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ALNY. Wells Fargo & Company boosted their target price on Alnylam Pharmaceuticals from $287.00 to $333.00 and gave the stock an "equal weight" rating in a report on Monday, June 30th. Stifel Nicolaus boosted their price target on Alnylam Pharmaceuticals from $300.00 to $345.00 and gave the stock a "buy" rating in a research report on Monday, March 31st. Jefferies Financial Group upped their target price on Alnylam Pharmaceuticals from $328.00 to $384.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Citigroup upped their price target on Alnylam Pharmaceuticals from $364.00 to $404.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, BMO Capital Markets upped their price target on Alnylam Pharmaceuticals from $300.00 to $360.00 and gave the company an "outperform" rating in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, Alnylam Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $347.75.

Alnylam Pharmaceuticals Stock Up 0.2%

Alnylam Pharmaceuticals stock traded up $0.81 during mid-day trading on Friday, hitting $328.81. The company's stock had a trading volume of 666,674 shares, compared to its average volume of 911,887. The firm's 50 day moving average is $311.56 and its 200 day moving average is $274.67. The company has a market cap of $42.87 billion, a PE ratio of -157.33 and a beta of 0.23. The company has a debt-to-equity ratio of 8.88, a current ratio of 3.04 and a quick ratio of 2.98. Alnylam Pharmaceuticals, Inc. has a 52-week low of $205.87 and a 52-week high of $333.70.

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 the consensus estimate of ($0.37) by ($0.07). Alnylam Pharmaceuticals had a negative return on equity of 510.31% and a negative net margin of 11.49%. The firm had revenue of $594.19 million during the quarter, compared to analyst estimates of $584.32 million. During the same period in the previous year, the company earned ($0.16) earnings per share. The business's revenue for the quarter was up 20.2% on a year-over-year basis. On average, 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.