Westpac Banking Corp Purchases 3,956 Shares of Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• Westpac Banking Corp increased its stake in Alnylam Pharmaceuticals by 292% in the fourth quarter, buying 3,956 additional shares and lifting its holdings to 5,311 shares valued at about $2.11 million.
• Alnylam’s latest earnings beat expectations: it reported $1.99 EPS versus the $0.87 estimate, while quarterly revenue rose 96.4% year over year to $1.17 billion.
• Wall Street remains broadly positive on the stock, with a consensus rating of Moderate Buy and an average price target of $463.13, even as some insiders have recently sold shares.

Westpac Banking Corp raised its position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 292.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,311 shares of the biopharmaceutical company's stock after buying an additional 3,956 shares during the quarter. Westpac Banking Corp's holdings in Alnylam Pharmaceuticals were worth $2,112,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ALNY. Brighton Jones LLC bought a new position in Alnylam Pharmaceuticals in the 4th quarter valued at about $243,000. Geneos Wealth Management Inc. increased its holdings in Alnylam Pharmaceuticals by 372.3% in the 1st 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 during the period. Flow Traders U.S. LLC bought a new position in Alnylam Pharmaceuticals in the 2nd quarter valued at about $241,000. Daiwa Securities Group Inc. grew its holdings in shares of Alnylam Pharmaceuticals by 0.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company's stock valued at $4,220,000 after purchasing an additional 35 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Alnylam Pharmaceuticals by 70,300.0% during the 2nd quarter. NewEdge Advisors LLC now owns 704 shares of the biopharmaceutical company's stock valued at $229,000 after purchasing an additional 703 shares during the last quarter. 92.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. 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 report on Friday, May 1st. Weiss Ratings raised shares of Alnylam Pharmaceuticals from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, May 4th. Freedom Capital raised shares of Alnylam Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 17th. HC Wainwright reaffirmed a "buy" rating and set a $510.00 price target on shares of Alnylam Pharmaceuticals in a report on Tuesday, May 5th. Finally, Canaccord Genuity Group lifted their price target on shares of Alnylam Pharmaceuticals from $415.00 to $429.00 and gave the company a "buy" rating in a report on Tuesday, February 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $463.13.

Insider Activity at Alnylam Pharmaceuticals

In related news, insider Melissa Mclaughlin sold 2,286 shares of Alnylam Pharmaceuticals stock in a transaction that occurred 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 sale, the insider directly owned 9,443 shares in the company, valued at $3,120,156.06. This trade represents a 19.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. Also, Director David E. I. Pyott sold 3,830 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on 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 sale, the director owned 1,582 shares in the company, valued at approximately $473,302.76. This represents a 70.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 7,740 shares of company stock worth $2,420,214. 0.86% of the stock is owned by corporate insiders.

Alnylam Pharmaceuticals Stock Up 2.3%

NASDAQ:ALNY opened at $292.58 on Thursday. The firm's 50 day simple moving average is $308.26 and its 200 day simple moving average is $350.71. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.13 and a quick ratio of 3.06. Alnylam Pharmaceuticals, Inc. has a one year low of $283.10 and a one year high of $495.55. The company has a market cap of $39.06 billion, a PE ratio of 79.94 and a beta of 0.29.

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

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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