Westpac Banking Corp Sells 2,859 Shares of Alnylam Pharmaceuticals, Inc. $ALNY

Westpac Banking Corp trimmed its holdings in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 53.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,452 shares of the biopharmaceutical company’s stock after selling 2,859 shares during the period. Westpac Banking Corp’s holdings in Alnylam Pharmaceuticals were worth $811,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ALNY. MV Capital Management Inc. acquired a new position in Alnylam Pharmaceuticals during the fourth quarter valued at approximately $25,000. HM Payson & Co. acquired a new position in shares of Alnylam Pharmaceuticals during the 4th quarter worth approximately $27,000. Golden State Wealth Management LLC increased its position in shares of Alnylam Pharmaceuticals by 100.0% during the 4th quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 36 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Alnylam Pharmaceuticals during the 3rd quarter worth approximately $29,000. Finally, Manchester Capital Management LLC raised its stake in shares of Alnylam Pharmaceuticals by 600.0% during the 4th quarter. Manchester Capital Management LLC now owns 84 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 72 shares in the last quarter. Institutional investors own 92.97% of the company’s stock.

Analysts Set New Price Targets

ALNY has been the subject of several analyst reports. Bank of America decreased their target price on shares of Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating for the company in a research note on Tuesday, July 14th. Chardan Capital reaffirmed a “buy” rating and set a $425.00 price target on shares of Alnylam Pharmaceuticals in a research report on Wednesday, March 25th. JPMorgan Chase & Co. cut their price target 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. Weiss Ratings raised shares of Alnylam Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Finally, Truist Financial lowered their price objective on shares of Alnylam Pharmaceuticals from $505.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Alnylam Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $452.13.

Alnylam Pharmaceuticals Stock Down 1.6%

ALNY stock opened at $266.99 on Thursday. The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $35.65 billion, a PE ratio of 72.95 and a beta of 0.27. Alnylam Pharmaceuticals, Inc. has a 1-year low of $264.21 and a 1-year high of $495.55. The business’s 50 day simple moving average is $293.02 and its 200 day simple moving average is $317.88.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share (EPS) 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 business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the firm posted ($0.44) EPS. The company’s quarterly revenue was up 96.4% on a year-over-year basis. As a group, research analysts anticipate that Alnylam Pharmaceuticals, Inc. will post 7.35 EPS for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, Director David E. I. Pyott sold 3,830 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $299.18, for a total value of $1,145,859.40. Following the transaction, the director directly owned 1,582 shares of the company’s stock, valued at $473,302.76. This represents a 70.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is owned by insiders.

About Alnylam Pharmaceuticals

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.