Norges Bank Buys New Position in Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• Norges Bank initiated a new position in Alnylam Pharmaceuticals during the fourth quarter, buying 2.25 million shares worth about $895.8 million. The stake represented roughly 1.71% of the company.
• Alnylam reported strong quarterly results, with EPS of $1.99 beating estimates by a wide margin and revenue of $1.17 billion, up 96.4% year over year. The company also posted better-than-expected margins and return on equity.
• Wall Street remains generally positive on ALNY, with analysts assigning an average “Moderate Buy” rating and a consensus price target of $463.13. However, insiders have recently sold shares, including EVP Pushkal Garg and insider Melissa Mclaughlin.

Norges Bank bought a new stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,252,775 shares of the biopharmaceutical company's stock, valued at approximately $895,816,000. Norges Bank owned approximately 1.71% of Alnylam Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Eurizon Capital SGR S.p.A. purchased a new stake in Alnylam Pharmaceuticals in the fourth quarter valued at approximately $9,706,000. Fideuram Asset Management Ireland dac purchased a new position in shares of Alnylam Pharmaceuticals during the fourth quarter worth approximately $50,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in shares of Alnylam Pharmaceuticals during the fourth quarter worth approximately $1,066,000. SBI Okasan Asset Management Co.Ltd. purchased a new position in shares of Alnylam Pharmaceuticals during the fourth quarter worth approximately $1,312,000. Finally, Intech Investment Management LLC raised its stake in shares of Alnylam Pharmaceuticals by 703.7% during the fourth quarter. Intech Investment Management LLC now owns 46,710 shares of the biopharmaceutical company's stock worth $18,574,000 after acquiring an additional 40,898 shares in the last quarter. 92.97% of the stock is owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Stock Down 1.0%

Shares of Alnylam Pharmaceuticals stock opened at $301.98 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.06 and a current ratio of 3.13. Alnylam Pharmaceuticals, Inc. has a 52-week low of $284.28 and a 52-week high of $495.55. The stock has a market capitalization of $40.32 billion, a price-to-earnings ratio of 82.51 and a beta of 0.31. The company's 50 day moving average price is $309.38 and its 200-day moving average price is $354.73.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter last year, the business earned ($0.44) earnings per share. The business's revenue was up 96.4% on a year-over-year basis. Equities research analysts forecast that Alnylam Pharmaceuticals, Inc. will post 7.36 EPS for the current year.

Analysts Set New Price Targets

ALNY has been the topic of several research reports. Bank of America reissued a "buy" rating on shares of Alnylam Pharmaceuticals in a research note on Thursday, February 12th. Royal Bank Of Canada decreased their price target on shares of Alnylam Pharmaceuticals from $450.00 to $445.00 and set an "outperform" rating on the stock in a research note on Friday, May 1st. Jefferies Financial Group reissued a "hold" rating and set a $330.00 price target (down from $522.00) on shares of Alnylam Pharmaceuticals in a research note on Monday, March 16th. Wall Street Zen raised shares of Alnylam Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Finally, Chardan Capital reissued a "buy" rating and set a $425.00 price target on shares of Alnylam Pharmaceuticals in a research note on Wednesday, March 25th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, Alnylam Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $463.13.

Insider Transactions at Alnylam Pharmaceuticals

In related news, EVP Pushkal Garg sold 1,775 shares of Alnylam Pharmaceuticals stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $319.74, for a total value of $567,538.50. Following the sale, the executive vice president owned 23,406 shares in the company, valued at $7,483,834.44. The trade was a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Melissa Mclaughlin sold 2,286 shares of Alnylam Pharmaceuticals stock in a transaction on 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 sale, the insider owned 9,443 shares in the company, valued at approximately $3,120,156.06. This trade represents a 19.49% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last three months, insiders have sold 21,255 shares of company stock valued at $6,930,337. 0.86% of the stock is currently owned by insiders.

Alnylam Pharmaceuticals Company 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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