Mirae Asset Global Investments Co. Ltd. Makes New Investment in Alnylam Pharmaceuticals, Inc. $ALNY

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 73,867 shares of the biopharmaceutical company’s stock, valued at approximately $18,226,000.

A number of other large investors have also recently made changes to their positions in the business. Toth Financial Advisory Corp acquired a new position in shares of Alnylam Pharmaceuticals during the third quarter valued at about $25,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Alnylam Pharmaceuticals during the second quarter worth about $42,000. Burkett Financial Services LLC bought a new stake in shares of Alnylam Pharmaceuticals during the third quarter worth about $37,000. CoreCap Advisors LLC raised its holdings in shares of Alnylam Pharmaceuticals by 744.4% in the 3rd quarter. CoreCap Advisors LLC now owns 152 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 134 shares during the last quarter. Finally, Ascentis Independent Advisors acquired a new stake in shares of Alnylam Pharmaceuticals in the 1st quarter worth about $64,000. 92.97% of the stock is owned by institutional investors.

Alnylam Pharmaceuticals Stock Performance

NASDAQ ALNY opened at $159.89 on Wednesday. Alnylam Pharmaceuticals, Inc. has a 1 year low of $156.00 and a 1 year high of $479.79. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.48 and a quick ratio of 2.43. The firm has a market cap of $21.42 billion, a price-to-earnings ratio of 8.30 and a beta of 0.42. The company has a fifty day moving average price of $233.41 and a 200-day moving average price of $284.10.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported $16.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $14.60. Alnylam Pharmaceuticals had a net margin of 52.85% and a return on equity of 155.33%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the firm earned $2.90 earnings per share. The firm’s revenue was up 16.7% on a year-over-year basis. As a group, equities research analysts predict that Alnylam Pharmaceuticals, Inc. will post 6.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ALNY shares. The Goldman Sachs Group dropped their price target on shares of Alnylam Pharmaceuticals from $536.00 to $320.00 and set a “buy” rating on the stock in a research report on Friday, October 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Alnylam Pharmaceuticals in a report on Thursday, October 29th. Cantor Fitzgerald reissued a “neutral” rating on shares of Alnylam Pharmaceuticals in a report on Wednesday, September 30th. Wells Fargo & Company lowered their price objective on Alnylam Pharmaceuticals from $253.00 to $220.00 and set an “equal weight” rating for the company in a research note on Friday, October 30th. Finally, Sanford C. Bernstein lowered Alnylam Pharmaceuticals from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $376.00 to $199.00 in a report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $305.86.

Trending Headlines about Alnylam Pharmaceuticals

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

• Positive Sentiment: Alnylam plans to present five-year HELIOS-B results and additional clinical and real-world evidence on AMVUTTRA (vutrisiran) at conferences in November. The presentations could provide new information about the treatment’s potential, though the announcement did not include new study results. Alnylam conference presentation announcement
• Negative Sentiment: Analyst sentiment weakened: Raymond James cut its rating from Strong Buy to Outperform, while Bernstein moved from Outperform to Market Perform. Raymond James downgrade Bernstein downgrade
• Negative Sentiment: Price expectations have also been trimmed: the consensus target fell 13.64% to $325.18, and Truist lowered its target to $225 from $315 while cutting its rating to Hold. Although the targets remain above the share price cited in the reports, the reductions signal increased caution. Consensus target reduction

Insider Transactions at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, EVP Bryan Supran sold 1,758 shares of the stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $226.88, for a total value of $398,855.04. Following the completion of the sale, the executive vice president owned 12,807 shares in the company, valued at approximately $2,905,652.16. This trade represents a 12.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.86% of the company’s stock.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines based on RNA interference (RNAi). The company’s therapies are designed to silence specific genes involved in disease, with the goal of addressing the underlying causes of genetic and other serious conditions.

Alnylam’s marketed products include ONPATTRO (patisiran) and AMVUTTRA (vutrisiran) for hereditary transthyretin-mediated amyloidosis, GIVLAARI (givosiran) for acute hepatic porphyria, and OXLUMO (lumasiran) for primary hyperoxaluria type 1.