Rakuten Investment Management Inc. Acquires Shares of 17,961 Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• Rakuten Investment Management acquired 17,961 Alnylam Pharmaceuticals shares in the second quarter, valued at approximately $5.27 million. Institutional investors collectively own 92.97% of the company.
• Alnylam reported quarterly earnings of $1.84 per share, exceeding analyst expectations of $1.63, while revenue rose 66.9% year over year to $1.29 billion, slightly below estimates.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $386.14, although several firms recently lowered their targets. ALNY opened at $237.10, well below its 52-week high of $495.55.

Rakuten Investment Management Inc. bought a new position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,961 shares of the biopharmaceutical company's stock, valued at approximately $5,272,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALNY. Norges Bank bought a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter valued at approximately $895,816,000. Legal & General Group Plc bought a new position in Alnylam Pharmaceuticals in the 2nd quarter valued at approximately $278,321,000. Qube Research & Technologies Ltd purchased a new stake in Alnylam Pharmaceuticals during the 3rd quarter valued at $369,943,000. AQR Capital Management LLC boosted its stake in Alnylam Pharmaceuticals by 295.2% during the 3rd quarter. AQR Capital Management LLC now owns 744,008 shares of the biopharmaceutical company's stock valued at $336,009,000 after purchasing an additional 555,759 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Alnylam Pharmaceuticals in the 2nd quarter worth $148,128,000. Institutional investors own 92.97% of the company's stock.

Alnylam Pharmaceuticals Price Performance

NASDAQ ALNY opened at $237.10 on Friday. The stock has a market capitalization of $31.73 billion, a price-to-earnings ratio of 44.07 and a beta of 0.30. Alnylam Pharmaceuticals, Inc. has a 1-year low of $197.81 and a 1-year high of $495.55. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.05 and a quick ratio of 2.99. The business's fifty day moving average price is $262.62 and its 200-day moving average price is $293.73.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.63 by $0.21. Alnylam Pharmaceuticals had a return on equity of 84.93% and a net margin of 15.26%.The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the company posted ($0.51) earnings per share. Alnylam Pharmaceuticals's revenue was up 66.9% compared to the same quarter last year. On average, equities analysts predict that Alnylam Pharmaceuticals, Inc. will post 6.59 earnings per share for the current year.

Analysts Set New Price Targets

ALNY has been the subject of several recent analyst reports. Oppenheimer decreased their price target on Alnylam Pharmaceuticals from $500.00 to $350.00 and set an "outperform" rating for the company in a research note on Friday, July 31st. Citigroup dropped their price objective on Alnylam Pharmaceuticals from $380.00 to $340.00 and set a "buy" rating on the stock in a research report on Monday, August 3rd. Wells Fargo & Company reduced their price objective on Alnylam Pharmaceuticals from $316.00 to $256.00 and set an "equal weight" rating for the company in a report on Friday, August 14th. Royal Bank Of Canada decreased their target price on Alnylam Pharmaceuticals from $445.00 to $350.00 and set an "outperform" rating for the company in a research report on Friday, July 31st. Finally, Bank of America lowered their target price on shares of Alnylam Pharmaceuticals from $460.00 to $410.00 and set a "buy" rating on the stock in a research note on Tuesday, July 14th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $386.14.

Insider Activity

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the completion of the sale, the director directly owned 1,582 shares in the company, valued at $473,302.76. The trade was a 70.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is currently owned by corporate insiders.

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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