Orbimed Advisors LLC Sells 169,800 Shares of Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• Orbimed Advisors cut its Alnylam Pharmaceuticals position by 58.8% in the first quarter, selling 169,800 shares and retaining 119,000 shares valued at approximately $39.4 million.
• Analysts maintain a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $452.13, despite some firms recently lowering their targets.
• Alnylam reported strong quarterly results, earning $1.99 per share versus the $0.87 consensus estimate and generating $1.17 billion in revenue, up 96.4% year over year.

Orbimed Advisors LLC reduced its position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 58.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,000 shares of the biopharmaceutical company's stock after selling 169,800 shares during the quarter. Orbimed Advisors LLC owned approximately 0.09% of Alnylam Pharmaceuticals worth $39,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. MV Capital Management Inc. bought a new position in shares of Alnylam Pharmaceuticals during the 4th quarter worth $25,000. Caitong International Asset Management Co. Ltd bought a new stake in Alnylam Pharmaceuticals in the 3rd quarter valued at about $29,000. HM Payson & Co. bought a new stake in Alnylam Pharmaceuticals in the 4th quarter valued at about $27,000. Golden State Wealth Management LLC lifted its holdings in Alnylam Pharmaceuticals by 100.0% during the fourth quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 36 shares during the last quarter. Finally, Manchester Capital Management LLC lifted its holdings in Alnylam Pharmaceuticals by 600.0% during the fourth quarter. Manchester Capital Management LLC now owns 84 shares of the biopharmaceutical company's stock valued at $33,000 after purchasing an additional 72 shares during the last quarter. 92.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ALNY. HC Wainwright lifted their target price on shares of Alnylam Pharmaceuticals from $470.00 to $485.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. Royal Bank Of Canada dropped 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. Wall Street Zen raised shares of Alnylam Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Saturday. Weiss Ratings upgraded shares of Alnylam Pharmaceuticals from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Alnylam Pharmaceuticals from $420.00 to $400.00 and set an "overweight" rating for the company in a research note on Wednesday, July 22nd. Two research 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 company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $452.13.

Alnylam Pharmaceuticals Price Performance

ALNY stock opened at $271.77 on Monday. The company has a quick ratio of 3.06, a current ratio of 3.13 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $36.28 billion, a PE ratio of 74.25 and a beta of 0.27. Alnylam Pharmaceuticals, Inc. has a twelve month low of $262.21 and a twelve month high of $495.55. The stock has a 50-day simple moving average of $292.22 and a two-hundred day simple moving average of $316.06.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $0.87 by $1.12. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the prior year, the business posted ($0.44) earnings per share. The company's revenue was up 96.4% on a year-over-year basis. On average, equities analysts predict that Alnylam Pharmaceuticals, Inc. will post 7.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director David E. I. Pyott sold 3,830 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the sale, the director owned 1,582 shares of the company's stock, valued at approximately $473,302.76. This represents a 70.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.86% of the company's stock.

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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