Driehaus Capital Management LLC Acquires 23,648 Shares of Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• Driehaus Capital Management LLC increased its stake in Alnylam Pharmaceuticals by 70.6% during Q1, holding 57,128 shares valued at approximately $15.4 million.
• Recent analyst ratings for Alnylam Pharmaceuticals have been positive, with updates from firms like JPMorgan Chase & Co. and Canaccord Genuity raising their target prices significantly.
• Alnylam Pharmaceuticals reported earnings of $0.32 per share in its last quarterly report, exceeding estimates and indicating a 17.3% year-over-year revenue growth.

Driehaus Capital Management LLC lifted its holdings in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 70.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,128 shares of the biopharmaceutical company's stock after purchasing an additional 23,648 shares during the quarter. Driehaus Capital Management LLC's holdings in Alnylam Pharmaceuticals were worth $15,426,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Iron Triangle Partners LP bought a new position in shares of Alnylam Pharmaceuticals during the first quarter worth about $17,662,000. Ieq Capital LLC grew its holdings in shares of Alnylam Pharmaceuticals by 13.4% during the first quarter. Ieq Capital LLC now owns 44,014 shares of the biopharmaceutical company's stock worth $11,885,000 after buying an additional 5,208 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Alnylam Pharmaceuticals by 137.2% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 23,763 shares of the biopharmaceutical company's stock worth $6,416,000 after buying an additional 13,745 shares in the last quarter. Comerica Bank grew its holdings in shares of Alnylam Pharmaceuticals by 23.3% during the first quarter. Comerica Bank now owns 17,253 shares of the biopharmaceutical company's stock worth $4,659,000 after buying an additional 3,262 shares in the last quarter. Finally, Jump Financial LLC grew its holdings in shares of Alnylam Pharmaceuticals by 3.8% during the first quarter. Jump Financial LLC now owns 15,717 shares of the biopharmaceutical company's stock worth $4,244,000 after buying an additional 572 shares in the last quarter. 92.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, EVP Jeffrey V. Poulton sold 2,274 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $453.27, for a total transaction of $1,030,735.98. Following the completion of the sale, the executive vice president directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Yvonne Greenstreet sold 6,979 shares of Alnylam Pharmaceuticals stock in a transaction on Monday, August 18th. The shares were sold at an average price of $453.27, for a total value of $3,163,371.33. Following the completion of the transaction, the chief executive officer directly owned 56,221 shares of the company's stock, valued at $25,483,292.67. This represents a 11.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 57,594 shares of company stock worth $25,551,456 in the last 90 days. Company insiders own 1.20% of the company's stock.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY traded up $7.81 during mid-day trading on Thursday, reaching $455.24. The company's stock had a trading volume of 223,061 shares, compared to its average volume of 957,064. Alnylam Pharmaceuticals, Inc. has a 1-year low of $205.87 and a 1-year high of $469.81. The stock has a market cap of $59.67 billion, a P/E ratio of -184.31 and a beta of 0.32. The business has a 50-day simple moving average of $382.18 and a two-hundred day simple moving average of $306.55. 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 (NASDAQ:ALNY - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.54) by $0.86. The company had revenue of $773.69 million during the quarter, compared to analysts' expectations of $633.54 million. Alnylam Pharmaceuticals had a negative return on equity of 273.52% and a negative net margin of 12.96%.The business's revenue was up 17.3% on a year-over-year basis. During the same period last year, the firm posted ($0.13) earnings per share. Alnylam Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -1.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ALNY shares. Piper Sandler increased their price objective on Alnylam Pharmaceuticals from $304.00 to $449.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. 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 note on Wednesday, August 6th. Wells Fargo & Company raised their price target on Alnylam Pharmaceuticals from $333.00 to $395.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Truist Financial started coverage on Alnylam Pharmaceuticals in a research note on Monday, July 21st. They issued a "buy" rating and a $385.00 price target for the company. Finally, Raymond James Financial started coverage on Alnylam Pharmaceuticals in a research note on Wednesday, July 30th. They issued an "outperform" rating and a $370.00 price target for the company. Twenty-two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $412.79.

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.