NewEdge Wealth LLC Invests $2.74 Million in Alnylam Pharmaceuticals, Inc. $ALNY

NewEdge Wealth LLC bought a new stake in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in the second quarter, Holdings Channel reports. The fund bought 9,094 shares of the biopharmaceutical company’s stock, valued at approximately $2,738,000.

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

Insider Activity at Alnylam Pharmaceuticals

In related news, Director David E. I. Pyott sold 3,830 shares of the company’s stock in a transaction 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 completion of 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Weiss Ratings upgraded Alnylam Pharmaceuticals from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Wells Fargo & Company cut their price objective on shares of Alnylam Pharmaceuticals from $316.00 to $256.00 and set an “equal weight” rating on the stock in a research report on Friday, August 14th. BMO Capital Markets assumed coverage on shares of Alnylam Pharmaceuticals in a report on Wednesday. They issued an “outperform” rating and a $318.00 target price for the company. Oppenheimer lowered their price target on Alnylam Pharmaceuticals from $500.00 to $350.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. dropped their price objective on Alnylam Pharmaceuticals from $400.00 to $375.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $386.62.

Alnylam Pharmaceuticals Trading Down 5.5%

Shares of ALNY stock opened at $229.30 on Friday. The company has a current ratio of 3.05, a quick ratio of 2.99 and a debt-to-equity ratio of 0.75. Alnylam Pharmaceuticals, Inc. has a 12-month low of $197.81 and a 12-month high of $495.55. The stock has a market capitalization of $30.68 billion, a P/E ratio of 42.62 and a beta of 0.30. The firm’s 50 day moving average is $267.95 and its 200 day moving average is $297.75.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.21. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The company’s quarterly revenue was up 66.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.51) EPS. Research analysts expect that Alnylam Pharmaceuticals, Inc. will post 6.59 earnings per share for the current year.

Trending Headlines about Alnylam Pharmaceuticals

Here are the key news stories impacting Alnylam Pharmaceuticals this week:

• Positive Sentiment: BMO Capital Markets upgraded Alnylam to “strong buy”, following its initiation of coverage with an “outperform” rating and a $318 price target. The bullish view could support investor confidence by indicating substantial potential upside from recent trading levels. Benzinga analyst coverage report TickerReport Alnylam coverage

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.