ICICI Prudential Asset Management Co Ltd Invests $843,000 in Alnylam Pharmaceuticals, Inc. $ALNY

ICICI Prudential Asset Management Co Ltd acquired a new position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) during the fourth quarter, Holdings Channel reports. The firm acquired 2,120 shares of the biopharmaceutical company’s stock, valued at approximately $843,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter worth $29,000. Ameriflex Group Inc. acquired a new position in shares of Alnylam Pharmaceuticals in the 3rd quarter worth $32,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Alnylam Pharmaceuticals in the 3rd quarter worth $36,000. Manchester Capital Management LLC grew its holdings in shares of Alnylam Pharmaceuticals by 600.0% in the 4th quarter. Manchester Capital Management LLC now owns 84 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 72 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Alnylam Pharmaceuticals in the 3rd quarter worth $39,000. Institutional investors own 92.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ALNY shares. Needham & Company LLC decreased their target price on Alnylam Pharmaceuticals from $529.00 to $510.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Wall Street Zen upgraded Alnylam Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Chardan Capital restated a “buy” rating and issued a $425.00 target price on shares of Alnylam Pharmaceuticals in a report on Wednesday, March 25th. Wells Fargo & Company lifted their target price on Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Finally, Truist Financial decreased their target price on Alnylam Pharmaceuticals from $515.00 to $505.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $463.13.

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, insider Melissa Mclaughlin sold 2,286 shares of the company’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $330.42, for a total transaction of $755,340.12. Following the transaction, the insider directly owned 9,443 shares of the company’s stock, valued at approximately $3,120,156.06. The trade was a 19.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 the company’s stock in a transaction on 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 in the company, valued at $473,302.76. The trade was 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. Insiders have sold 7,740 shares of company stock worth $2,420,214 over the last three months. 0.86% of the stock is owned by insiders.

Alnylam Pharmaceuticals Stock Down 0.6%

NASDAQ:ALNY opened at $289.39 on Friday. The firm has a market capitalization of $38.64 billion, a price-to-earnings ratio of 79.07 and a beta of 0.29. Alnylam Pharmaceuticals, Inc. has a 1-year low of $283.10 and a 1-year high of $495.55. 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 business’s fifty day moving average price is $305.23 and its 200 day moving average price is $344.11.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $0.87 by $1.12. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.Alnylam Pharmaceuticals’s quarterly revenue was up 96.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.44) earnings per share. On average, sell-side analysts forecast that Alnylam Pharmaceuticals, Inc. will post 7.47 earnings per share for the current fiscal year.

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.