Westpac Banking Corp Has $1.37 Million Holdings in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Key Points

• Westpac Banking Corp has reduced its stake in Alnylam Pharmaceuticals by 52.0%, now holding 5,073 shares valued at approximately $1.37 million.
• Alnylam Pharmaceuticals recently reported earnings that exceeded analysts' expectations, achieving $0.32 EPS against a consensus estimate of ($0.54).
• Analysts have shown positive sentiment towards Alnylam Pharmaceuticals, with multiple upgrades in target prices and a consensus rating of "Moderate Buy".

Westpac Banking Corp reduced its holdings in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 52.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,073 shares of the biopharmaceutical company's stock after selling 5,487 shares during the quarter. Westpac Banking Corp's holdings in Alnylam Pharmaceuticals were worth $1,370,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in shares of Alnylam Pharmaceuticals during the 4th quarter valued at approximately $28,000. Whipplewood Advisors LLC raised its position in shares of Alnylam Pharmaceuticals by 208.8% during the 1st quarter. Whipplewood Advisors LLC now owns 105 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 71 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Alnylam Pharmaceuticals by 176.9% during the 1st quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 69 shares in the last quarter. Colonial Trust Co SC acquired a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter valued at approximately $35,000. Finally, Washington Trust Advisors Inc. raised its position in shares of Alnylam Pharmaceuticals by 53.5% during the 1st quarter. Washington Trust Advisors Inc. now owns 175 shares of the biopharmaceutical company's stock valued at $47,000 after acquiring an additional 61 shares in the last quarter. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Yvonne Greenstreet sold 31,640 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $304.39, for a total transaction of $9,630,899.60. Following the completion of the transaction, the chief executive officer owned 48,948 shares of the company's stock, valued at $14,899,281.72. This trade represents a 39.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Needham & Company LLC upped their price target on Alnylam Pharmaceuticals from $377.00 to $478.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Canaccord Genuity Group upped their price target on Alnylam Pharmaceuticals from $390.00 to $415.00 and gave the company a "buy" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. upped their price target on Alnylam Pharmaceuticals from $348.00 to $475.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Wall Street Zen raised Alnylam Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, HC Wainwright upped their price target on Alnylam Pharmaceuticals from $500.00 to $570.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $403.92.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY traded up $10.21 during trading hours on Thursday, reaching $442.73. 1,263,459 shares of the company's stock traded hands, compared to its average volume of 1,288,902. The firm has a market capitalization of $58.03 billion, a price-to-earnings ratio of -179.24 and a beta of 0.25. The company has a debt-to-equity ratio of 4.10, a current ratio of 2.80 and a quick ratio of 2.75. Alnylam Pharmaceuticals, Inc. has a twelve month low of $205.87 and a twelve month high of $445.20. The business's fifty day simple moving average is $342.13 and its two-hundred day simple moving average is $289.13.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of ($0.54) by $0.86. The company had revenue of $773,689 billion for the quarter, compared to analyst estimates of $633.54 million. Alnylam Pharmaceuticals had a negative return on equity of 273.52% and a negative net margin of 12.96%. The company's quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the company earned ($0.13) earnings per share. Analysts predict that Alnylam Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

Alnylam Pharmaceuticals Profile

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.