Federated Hermes Inc. Buys 14,582 Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Key Points

• Federated Hermes Inc. increased its stake in Alnylam Pharmaceuticals by 5.8%, acquiring an additional 14,582 shares, bringing its total ownership to 264,173 shares valued at approximately $71.3 million.
• Alnylam Pharmaceuticals stock is rated as a "Moderate Buy" by analysts, with an average price target of $347.75, following recent updates in target prices from major firms.
• CEO Yvonne Greenstreet sold 31,640 shares at an average price of $304.39, resulting in a significant decrease of 39.26% in her holdings, which raised questions about insider confidence.

Federated Hermes Inc. boosted its stake in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 5.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 264,173 shares of the biopharmaceutical company's stock after purchasing an additional 14,582 shares during the period. Federated Hermes Inc. owned about 0.20% of Alnylam Pharmaceuticals worth $71,332,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Capital Research Global Investors lifted its stake in shares of Alnylam Pharmaceuticals by 32.9% in the fourth quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company's stock worth $1,639,767,000 after buying an additional 1,724,610 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Alnylam Pharmaceuticals by 39.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company's stock valued at $1,031,705,000 after acquiring an additional 1,245,195 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Alnylam Pharmaceuticals by 496.6% in the fourth quarter. Marshall Wace LLP now owns 378,649 shares of the biopharmaceutical company's stock valued at $89,100,000 after buying an additional 315,182 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Alnylam Pharmaceuticals by 60.9% in the fourth quarter. AQR Capital Management LLC now owns 813,356 shares of the biopharmaceutical company's stock valued at $191,391,000 after purchasing an additional 307,702 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Alnylam Pharmaceuticals during the 1st quarter worth about $69,292,000. Institutional investors and hedge funds own 92.97% of the company's stock.

Analyst Upgrades and Downgrades

ALNY has been the subject of several recent research reports. Wall Street Zen raised Alnylam Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Citigroup upped their price target on Alnylam Pharmaceuticals from $364.00 to $404.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Chardan Capital increased their price objective on Alnylam Pharmaceuticals from $325.00 to $400.00 and gave the company a "buy" rating in a report on Friday. JPMorgan Chase & Co. raised their price target on Alnylam Pharmaceuticals from $338.00 to $348.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Truist Financial started coverage on Alnylam Pharmaceuticals in a report on Monday, July 21st. They set a "buy" rating and a $385.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $392.13.

Insiders Place Their Bets

In other news, CEO Yvonne Greenstreet sold 19,297 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $306.00, for a total transaction of $5,904,882.00. Following the completion of the sale, the chief executive officer owned 48,948 shares in the company, valued at $14,978,088. The trade was a 28.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.50% of the company's stock.

Alnylam Pharmaceuticals Trading Up 2.4%

Shares of ALNY stock traded up $9.56 during mid-day trading on Friday, reaching $401.80. 1,780,984 shares of the stock traded hands, compared to its average volume of 1,028,799. The stock's fifty day simple moving average is $318.24 and its two-hundred day simple moving average is $278.61. The company has a quick ratio of 2.98, a current ratio of 3.04 and a debt-to-equity ratio of 8.88. The company has a market cap of $52.39 billion, a price-to-earnings ratio of -162.67 and a beta of 0.25. Alnylam Pharmaceuticals, Inc. has a 1-year low of $205.87 and a 1-year high of $402.43.

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 analysts' consensus estimates of ($0.37) by ($0.07). The business had revenue of $594.19 million during the quarter, compared to the consensus estimate of $584.32 million. Alnylam Pharmaceuticals had a negative return on equity of 444.38% and a negative net margin of 12.96%. The company's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. On average, research analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal 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.