NEOS Investment Management LLC Acquires 9,401 Shares of Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• NEOS Investment Management increased its Alnylam Pharmaceuticals stake by 13.6% in the second quarter, purchasing 9,401 additional shares. The fund now owns 78,274 shares valued at approximately $23.6 million, while institutional investors collectively hold 92.97% of the company.
• Analysts maintain a generally positive outlook, with Alnylam receiving a consensus “Moderate Buy” rating and an average price target of $386.14, despite several firms lowering their targets.
• Alnylam reported quarterly EPS of $1.84, beating estimates of $1.63, while revenue rose 66.9% year over year to $1.29 billion. Shares opened at $266.11, well below the 12-month high of $495.55.

NEOS Investment Management LLC raised its holdings in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 13.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 78,274 shares of the biopharmaceutical company's stock after buying an additional 9,401 shares during the period. NEOS Investment Management LLC owned 0.06% of Alnylam Pharmaceuticals worth $23,563,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC bought a new position in Alnylam Pharmaceuticals in the fourth quarter valued at approximately $243,000. Geneos Wealth Management Inc. grew its stake in shares of Alnylam Pharmaceuticals by 372.3% in the first quarter. Geneos Wealth Management Inc. now owns 222 shares of the biopharmaceutical company's stock valued at $60,000 after buying an additional 175 shares in the last quarter. Flow Traders U.S. LLC acquired a new position in Alnylam Pharmaceuticals during the second quarter worth $241,000. Daiwa Securities Group Inc. raised its position in Alnylam Pharmaceuticals by 0.3% during the second quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company's stock worth $4,220,000 after acquiring an additional 35 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Alnylam Pharmaceuticals by 70,300.0% in the second quarter. NewEdge Advisors LLC now owns 704 shares of the biopharmaceutical company's stock valued at $229,000 after acquiring an additional 703 shares during the last quarter. Institutional investors and hedge funds own 92.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ALNY shares. Royal Bank Of Canada lowered their price objective on shares of Alnylam Pharmaceuticals from $445.00 to $350.00 and set an "outperform" rating on the stock in a research note on Friday, July 31st. Chardan Capital reissued a "buy" rating and set a $425.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday, July 31st. Needham & Company LLC dropped their price objective on Alnylam Pharmaceuticals from $510.00 to $357.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. TD Cowen reissued a "buy" rating on shares of Alnylam Pharmaceuticals in a report on Monday. Finally, Wall Street Zen downgraded Alnylam Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Sunday, August 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $386.14.

Alnylam Pharmaceuticals Trading Up 0.6%

Shares of NASDAQ:ALNY opened at $266.11 on Friday. Alnylam Pharmaceuticals, Inc. has a 12-month low of $197.81 and a 12-month high of $495.55. The business has a 50 day moving average of $259.25 and a 200-day moving average of $291.61. The company has a quick ratio of 2.99, a current ratio of 3.05 and a debt-to-equity ratio of 0.75. The stock has a market cap of $35.61 billion, a PE ratio of 49.46 and a beta of 0.31.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.21. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. Alnylam Pharmaceuticals had a return on equity of 84.93% and a net margin of 15.26%.The firm's quarterly revenue was up 66.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.51) earnings per share. As a group, equities research analysts forecast that Alnylam Pharmaceuticals, Inc. will post 6.59 earnings per share for the current year.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source