924,561 Shares in Alnylam Pharmaceuticals, Inc. $ALNY Acquired by Legal & General Group Plc

Legal & General Group Plc bought a new position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 924,561 shares of the biopharmaceutical company’s stock, valued at approximately $278,321,000. Legal & General Group Plc owned 0.69% of Alnylam Pharmaceuticals as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of Alnylam Pharmaceuticals by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 2,650,722 shares of the biopharmaceutical company’s stock worth $1,056,884,000 after acquiring an additional 151,480 shares during the last quarter. Norges Bank bought a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at approximately $895,816,000. Orbis Allan Gray Ltd raised its position in shares of Alnylam Pharmaceuticals by 29.8% in the second quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company’s stock valued at $691,771,000 after purchasing an additional 486,489 shares during the period. AQR Capital Management LLC lifted its position in Alnylam Pharmaceuticals by 23.6% during the 4th quarter. AQR Capital Management LLC now owns 919,959 shares of the biopharmaceutical company’s stock worth $365,822,000 after acquiring an additional 175,951 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Alnylam Pharmaceuticals by 3.0% during the 4th quarter. Northern Trust Corp now owns 857,742 shares of the biopharmaceutical company’s stock worth $341,081,000 after purchasing an additional 24,591 shares during the last quarter. 92.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director David E. I. Pyott sold 3,830 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the transaction, the director owned 1,582 shares in the company, valued at $473,302.76. This represents a 70.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ALNY shares. Barclays cut their target price on shares of Alnylam Pharmaceuticals from $527.00 to $450.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Bank of America reduced their target price on Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Needham & Company LLC decreased their price target on shares of Alnylam Pharmaceuticals from $510.00 to $357.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. JPMorgan Chase & Co. lowered their price target on shares of Alnylam Pharmaceuticals from $400.00 to $375.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Finally, HC Wainwright dropped their price objective on shares of Alnylam Pharmaceuticals from $485.00 to $455.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Alnylam Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $386.14.

Alnylam Pharmaceuticals Trading Down 0.4%

Shares of ALNY opened at $239.00 on Thursday. The stock has a fifty day moving average price of $264.27 and a two-hundred day moving average price of $294.77. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.99 and a current ratio of 3.05. Alnylam Pharmaceuticals, Inc. has a 52-week low of $197.81 and a 52-week high of $495.55. The company has a market cap of $31.98 billion, a price-to-earnings ratio of 44.42 and a beta of 0.30.

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

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.