Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Shares Purchased by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Alnylam Pharmaceuticals by 11.3% during the first quarter, acquiring an additional 2,107 shares to reach a total of 20,679 shares valued at approximately $5.58 million.
• In recent earnings, Alnylam Pharmaceuticals reported $0.32 EPS, surpassing estimates of ($0.54), while revenue increased by 17.3% year-over-year to approximately $774 million.
• Research firms have upgraded Alnylam Pharmaceuticals' ratings, with Oppenheimer and HC Wainwright setting new price targets of $490.00 and $570.00, respectively.

LPL Financial LLC raised its position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 11.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,679 shares of the biopharmaceutical company's stock after acquiring an additional 2,107 shares during the period. LPL Financial LLC's holdings in Alnylam Pharmaceuticals were worth $5,584,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new position in Alnylam Pharmaceuticals in the 4th quarter valued at about $28,000. Whipplewood Advisors LLC boosted its position in Alnylam Pharmaceuticals by 208.8% in the 1st quarter. Whipplewood Advisors LLC now owns 105 shares of the biopharmaceutical company's stock valued at $28,000 after buying an additional 71 shares during the last quarter. Bessemer Group Inc. boosted its position in Alnylam Pharmaceuticals by 176.9% in the 1st quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 69 shares during the last quarter. Colonial Trust Co SC purchased a new position in Alnylam Pharmaceuticals in the 4th quarter valued at about $35,000. Finally, Washington Trust Advisors Inc. boosted its position in Alnylam Pharmaceuticals by 53.5% in the 1st quarter. Washington Trust Advisors Inc. now owns 175 shares of the biopharmaceutical company's stock valued at $47,000 after buying an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 92.97% of the company's stock.

Insider Activity at Alnylam Pharmaceuticals

In related news, CEO Yvonne Greenstreet sold 31,640 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $304.39, for a total transaction of $9,630,899.60. Following the transaction, the chief executive officer owned 48,948 shares in the company, valued at $14,899,281.72. This trade represents a 39.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ:ALNY traded up $10.21 during trading hours on Thursday, hitting $442.73. The stock had a trading volume of 1,263,459 shares, compared to its average volume of 1,288,902. The stock's fifty day simple moving average is $342.13 and its 200 day simple moving average is $289.13. Alnylam Pharmaceuticals, Inc. has a 1-year low of $205.87 and a 1-year high of $445.20. The firm has a market capitalization of $58.03 billion, a price-to-earnings ratio of -179.24 and a beta of 0.25. The company has a debt-to-equity ratio of 4.10, a quick ratio of 2.75 and a current ratio of 2.80.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $0.32 EPS for the quarter, beating the consensus estimate of ($0.54) by $0.86. Alnylam Pharmaceuticals had a negative net margin of 12.96% and a negative return on equity of 273.52%. The company had revenue of $773,689 billion for the quarter, compared to analyst estimates of $633.54 million. During the same quarter last year, the business earned ($0.13) earnings per share. Alnylam Pharmaceuticals's revenue was up 17.3% compared to the same quarter last year. Sell-side analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -1.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ALNY. Piper Sandler upped their price objective on shares of Alnylam Pharmaceuticals from $304.00 to $449.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Barclays upped their price objective on shares of Alnylam Pharmaceuticals from $329.00 to $460.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Raymond James Financial began coverage on shares of Alnylam Pharmaceuticals in a research report on Wednesday, July 30th. They issued an "outperform" rating and a $370.00 price objective for the company. Truist Financial began coverage on shares of Alnylam Pharmaceuticals in a research report on Monday, July 21st. They set a "buy" rating and a $385.00 price target on the stock. Finally, Bank of America increased their price target on shares of Alnylam Pharmaceuticals from $336.00 to $359.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $403.92.

Alnylam Pharmaceuticals Company 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.