Mirae Asset Global Investments Co. Ltd. Buys 43,302 Shares of Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• Mirae Asset Global Investments increased its stake in Alnylam by 703% in Q4, buying 43,302 shares to hold 49,462 shares worth about $19.67 million according to its SEC filing.
• Analysts have a consensus rating of "Moderate Buy" with an average price target of $472.78, versus ALNY's recent price near $309.66, implying significant upside potential.
• Insiders sold 38,656 shares worth roughly $12.37 million in the past 90 days, and corporate insiders now own about 1.50% of the company.

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 703.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,462 shares of the biopharmaceutical company's stock after buying an additional 43,302 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Alnylam Pharmaceuticals were worth $19,669,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Root Financial Partners LLC acquired a new position in shares of Alnylam Pharmaceuticals during the third quarter valued at $25,000. Salomon & Ludwin LLC bought a new position in Alnylam Pharmaceuticals in the third quarter valued at about $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in Alnylam Pharmaceuticals in the third quarter worth about $29,000. Ameriflex Group Inc. bought a new stake in Alnylam Pharmaceuticals during the 3rd quarter worth about $32,000. Finally, ORG Partners LLC raised its holdings in Alnylam Pharmaceuticals by 70.2% during the 3rd quarter. ORG Partners LLC now owns 80 shares of the biopharmaceutical company's stock worth $36,000 after purchasing an additional 33 shares during the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ALNY shares. Barclays began coverage on shares of Alnylam Pharmaceuticals in a research note on Wednesday, January 28th. They issued an "overweight" rating and a $527.00 target price on the stock. Needham & Company LLC dropped their price target on shares of Alnylam Pharmaceuticals from $529.00 to $510.00 and set a "buy" rating for the company in a research note on Thursday, February 12th. Chardan Capital restated a "buy" rating and issued a $425.00 price objective on shares of Alnylam Pharmaceuticals in a report on Wednesday, March 25th. Bank of America reaffirmed a "buy" rating on shares of Alnylam Pharmaceuticals in a research note on Thursday, February 12th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $472.00 target price on shares of Alnylam Pharmaceuticals in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Alnylam Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $472.78.

Alnylam Pharmaceuticals Stock Down 3.3%

NASDAQ:ALNY opened at $309.66 on Friday. Alnylam Pharmaceuticals, Inc. has a 1 year low of $228.28 and a 1 year high of $495.55. The stock has a 50-day moving average price of $322.84 and a two-hundred day moving average price of $386.28. The stock has a market cap of $41.32 billion, a price-to-earnings ratio of 181.09 and a beta of 0.39. The company has a current ratio of 2.76, a quick ratio of 2.71 and a debt-to-equity ratio of 1.28.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The biopharmaceutical company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.18). Alnylam Pharmaceuticals had a net margin of 6.43% and a return on equity of 69.02%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm earned ($0.65) EPS. The company's revenue for the quarter was up 84.9% on a year-over-year basis. As a group, equities analysts expect that Alnylam Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

Insider Activity

In other news, EVP Pushkal Garg sold 1,775 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $319.74, for a total transaction of $567,538.50. Following the completion of the sale, the executive vice president owned 23,406 shares of the company's stock, valued at $7,483,834.44. This represents a 7.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey V. Poulton sold 2,206 shares of the firm's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $327.65, for a total transaction of $722,795.90. Following the sale, the executive vice president owned 64,273 shares in the company, valued at approximately $21,059,048.45. The trade was a 3.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 38,656 shares of company stock worth $12,370,696. Corporate insiders own 1.50% 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.

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