Canada Pension Plan Investment Board Acquires New Holdings in Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• Canada Pension Plan Investment Board acquired 334,246 Alnylam Pharmaceuticals shares worth approximately $100.6 million, representing about 0.25% of the company. Institutional investors and hedge funds collectively own 92.97% of ALNY.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $386.14, despite several recent target-price reductions.
• Alnylam reported quarterly EPS of $1.84, exceeding estimates of $1.63, while revenue rose 66.9% year over year to $1.29 billion, slightly below analyst expectations.

Canada Pension Plan Investment Board purchased a new stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 334,246 shares of the biopharmaceutical company's stock, valued at approximately $100,618,000. Canada Pension Plan Investment Board owned approximately 0.25% of Alnylam Pharmaceuticals at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ALNY. MV Capital Management Inc. purchased a new position in shares of Alnylam Pharmaceuticals during the 4th quarter worth approximately $25,000. HM Payson & Co. purchased a new stake in Alnylam Pharmaceuticals in the 4th quarter valued at approximately $27,000. Golden State Wealth Management LLC grew its holdings in Alnylam Pharmaceuticals by 100.0% during the 4th quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 36 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Alnylam Pharmaceuticals during the 3rd quarter valued at $29,000. Finally, Manchester Capital Management LLC increased its position in Alnylam Pharmaceuticals by 600.0% during the fourth quarter. Manchester Capital Management LLC now owns 84 shares of the biopharmaceutical company's stock worth $33,000 after buying an additional 72 shares in the last quarter. 92.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director David E. I. Pyott sold 3,830 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the completion of the transaction, the director owned 1,582 shares of the company's stock, valued at $473,302.76. This represents a 70.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALNY. Raymond James Financial upgraded Alnylam Pharmaceuticals from an "outperform" rating to a "strong-buy" rating and set a $420.00 price objective on the stock in a research report on Monday, August 3rd. Truist Financial dropped their price objective on Alnylam Pharmaceuticals from $410.00 to $315.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. Stifel Nicolaus cut their target price on shares of Alnylam Pharmaceuticals from $444.00 to $318.00 and set a "buy" rating for the company in a research note on Friday, July 31st. Bank of America reduced their target price on shares of Alnylam Pharmaceuticals from $460.00 to $410.00 and set a "buy" rating on the stock in a report on Tuesday, July 14th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and set a $376.00 price target on shares of Alnylam Pharmaceuticals in a research note on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Alnylam Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $386.14.

Alnylam Pharmaceuticals Price Performance

ALNY stock opened at $239.00 on Thursday. Alnylam Pharmaceuticals, Inc. has a 52-week low of $197.81 and a 52-week high of $495.55. The stock's fifty day simple moving average is $264.27 and its 200-day simple moving average is $294.77. The company has a quick ratio of 2.99, a current ratio of 3.05 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $31.98 billion, a price-to-earnings ratio of 44.42 and a beta of 0.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.63 by $0.21. Alnylam Pharmaceuticals had a return on equity of 84.93% and a net margin of 15.26%.The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm posted ($0.51) earnings per share. The business's quarterly revenue was up 66.9% compared to the same quarter last year. Equities research analysts expect that Alnylam Pharmaceuticals, Inc. will post 6.59 EPS for the current year.

Alnylam Pharmaceuticals Profile

Alnylam Pharmaceuticals, Inc NASDAQ: ALNY is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.

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