Commerce Bank Makes New $2.85 Million Investment in Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• Commerce Bank purchased 9,461 Alnylam shares worth approximately $2.85 million in the second quarter, while institutional ownership reached 92.97%.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $386.62, despite several recent target reductions.
• Alnylam beat quarterly earnings expectations with $1.84 in EPS, while revenue rose 66.9% year over year to $1.29 billion, slightly below analyst estimates.

Commerce Bank bought a new position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 9,461 shares of the biopharmaceutical company's stock, valued at approximately $2,848,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Alnylam Pharmaceuticals in the 2nd quarter valued at about $346,000. Evolve Private Wealth LLC bought a new position in Alnylam Pharmaceuticals during the 2nd quarter worth approximately $266,000. Westpac Banking Corp acquired a new position in Alnylam Pharmaceuticals during the second quarter valued at approximately $792,000. Sumitomo Life Insurance Co. acquired a new position in Alnylam Pharmaceuticals during the second quarter valued at approximately $937,000. Finally, Korea Investment CORP bought a new stake in Alnylam Pharmaceuticals in the second quarter valued at approximately $74,553,000. 92.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ALNY shares. Sanford C. Bernstein upgraded shares of Alnylam Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, July 29th. Bank of America decreased their price target on shares of Alnylam Pharmaceuticals from $460.00 to $410.00 and set a "buy" rating for the company in a report on Tuesday, July 14th. Morgan Stanley lowered their price objective on shares of Alnylam Pharmaceuticals from $400.00 to $300.00 and set an "equal weight" rating for the company in a research report on Friday, July 31st. JPMorgan Chase & Co. dropped their price objective on Alnylam Pharmaceuticals from $400.00 to $375.00 and set an "overweight" rating on the stock in a research note on Friday, July 31st. Finally, Truist Financial reduced their target price on Alnylam Pharmaceuticals from $410.00 to $315.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $386.62.

Insider Buying and Selling

In related news, Director David E. I. Pyott sold 3,830 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $299.18, for a total value of $1,145,859.40. Following the sale, the director directly owned 1,582 shares of the company's stock, valued at approximately $473,302.76. The trade was a 70.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.86% of the company's stock.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY stock opened at $236.01 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.99 and a current ratio of 3.05. Alnylam Pharmaceuticals, Inc. has a 52 week low of $197.81 and a 52 week high of $495.55. The company's 50 day moving average price is $265.98 and its two-hundred day moving average price is $296.21. The company has a market capitalization of $31.58 billion, a P/E ratio of 43.87 and a beta of 0.30.

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

Alnylam Pharmaceuticals Company 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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