Legal & General Group Plc Has $382.34 Million Position in Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• Legal & General Group Plc increased its stake in Alnylam Pharmaceuticals by 8.3% in the fourth quarter, bringing its holdings to 961,496 shares valued at about $382.3 million.
• Alnylam reported strong quarterly results, including EPS of $1.99 versus $0.87 expected and revenue of $1.17 billion, up 96.4% year over year.
• Analysts remain cautiously positive on the stock, with a consensus rating of Moderate Buy and an average price target of $463.13, though shares were trading around $295.50.

Legal & General Group Plc boosted its position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 8.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 961,496 shares of the biopharmaceutical company's stock after purchasing an additional 73,716 shares during the quarter. Legal & General Group Plc owned 0.73% of Alnylam Pharmaceuticals worth $382,339,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Mediolanum International Funds Ltd acquired a new stake in Alnylam Pharmaceuticals in the third quarter valued at $11,389,000. iA Global Asset Management Inc. lifted its stake in Alnylam Pharmaceuticals by 979.5% in the fourth quarter. iA Global Asset Management Inc. now owns 17,780 shares of the biopharmaceutical company's stock valued at $7,070,000 after acquiring an additional 16,133 shares during the last quarter. Perpetual Ltd acquired a new stake in Alnylam Pharmaceuticals in the fourth quarter valued at $2,004,000. Vanguard Group Inc. lifted its stake in Alnylam Pharmaceuticals by 2.0% in the third quarter. Vanguard Group Inc. now owns 13,565,452 shares of the biopharmaceutical company's stock valued at $6,185,846,000 after acquiring an additional 268,313 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Alnylam Pharmaceuticals by 24.2% in the third quarter. Envestnet Asset Management Inc. now owns 118,964 shares of the biopharmaceutical company's stock valued at $54,248,000 after acquiring an additional 23,168 shares during the last quarter. Institutional investors and hedge funds own 92.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ALNY. HC Wainwright reissued a "buy" rating and issued a $510.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Tuesday, May 5th. Jefferies Financial Group reissued a "hold" rating and issued a $330.00 price objective (down from $522.00) on shares of Alnylam Pharmaceuticals in a research report on Monday, March 16th. Wells Fargo & Company increased their price objective on shares of Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the company an "equal weight" rating in a research report on Friday, May 1st. Wall Street Zen raised shares of Alnylam Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Finally, Royal Bank Of Canada dropped their price objective on shares of Alnylam Pharmaceuticals from $450.00 to $445.00 and set an "outperform" rating on the stock in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $463.13.

Alnylam Pharmaceuticals Trading Down 0.7%

ALNY stock opened at $295.50 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.06 and a current ratio of 3.13. The company's 50-day simple moving average is $310.41 and its 200 day simple moving average is $357.09. Alnylam Pharmaceuticals, Inc. has a 52 week low of $284.28 and a 52 week high of $495.55. The company has a market capitalization of $39.45 billion, a PE ratio of 80.74 and a beta of 0.31.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, beating the consensus estimate of $0.87 by $1.12. Alnylam Pharmaceuticals had a net margin of 11.72% and a return on equity of 85.76%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the company posted ($0.44) earnings per share. Alnylam Pharmaceuticals's revenue was up 96.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alnylam Pharmaceuticals, Inc. will post 7.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Pushkal Garg sold 1,775 shares of the company's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $319.74, for a total value of $567,538.50. Following the transaction, the executive vice president directly owned 23,406 shares in the company, valued at approximately $7,483,834.44. This represents a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Melissa Mclaughlin sold 2,286 shares of the company's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $330.42, for a total transaction of $755,340.12. Following the completion of the transaction, the insider owned 9,443 shares in the company, valued at $3,120,156.06. This trade represents a 19.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 21,255 shares of company stock valued at $6,930,337 in the last three months. Insiders own 0.86% of the company's stock.

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.

Want to see what other hedge funds are holding ALNY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.