Investment Management Corp of Ontario Acquires 4,274 Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Investment Management Corp of Ontario boosted its holdings in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 153.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,059 shares of the biopharmaceutical company’s stock after purchasing an additional 4,274 shares during the quarter. Investment Management Corp of Ontario’s holdings in Alnylam Pharmaceuticals were worth $1,941,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Diversified Trust Co bought a new position in shares of Alnylam Pharmaceuticals during the second quarter worth $1,210,000. Los Angeles Capital Management LLC boosted its holdings in shares of Alnylam Pharmaceuticals by 11,433.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 137,017 shares of the biopharmaceutical company’s stock valued at $37,684,000 after purchasing an additional 135,829 shares during the last quarter. Breakwater Capital Group purchased a new position in shares of Alnylam Pharmaceuticals during the second quarter valued at about $249,000. Sanctuary Advisors LLC bought a new stake in shares of Alnylam Pharmaceuticals in the second quarter worth about $578,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Alnylam Pharmaceuticals by 22.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 73,320 shares of the biopharmaceutical company’s stock worth $20,165,000 after buying an additional 13,422 shares in the last quarter. 92.97% of the stock is currently owned by institutional investors.

Alnylam Pharmaceuticals Stock Up 1.1 %

NASDAQ:ALNY opened at $254.72 on Thursday. Alnylam Pharmaceuticals, Inc. has a twelve month low of $141.98 and a twelve month high of $304.39. The company has a market cap of $32.85 billion, a price-to-earnings ratio of -97.22 and a beta of 0.32. The stock has a fifty day simple moving average of $269.95 and a 200-day simple moving average of $243.83. The company has a current ratio of 2.75, a quick ratio of 2.69 and a debt-to-equity ratio of 31.64.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.36). The firm had revenue of $500.90 million during the quarter, compared to analyst estimates of $532.91 million. During the same period last year, the business posted $1.15 EPS. The company’s revenue was down 33.3% on a year-over-year basis. Analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -2.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ALNY shares. Bank of America raised their price target on Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the company a “buy” rating in a report on Monday, October 14th. TD Cowen raised their target price on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the company a “buy” rating in a report on Monday, October 21st. Piper Sandler reaffirmed an “overweight” rating and set a $296.00 price target on shares of Alnylam Pharmaceuticals in a research note on Monday, November 18th. Barclays lifted their price objective on shares of Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $298.09.

Insider Transactions at Alnylam Pharmaceuticals

In related news, CMO Pushkal Garg sold 1,682 shares of Alnylam Pharmaceuticals stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total value of $422,148.36. Following the completion of the sale, the chief marketing officer now directly owns 17,457 shares in the company, valued at $4,381,357.86. The trade was a 8.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Tolga Tanguler sold 1,469 shares of Alnylam Pharmaceuticals stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total value of $368,689.62. Following the completion of the sale, the executive vice president now owns 13,191 shares of the company’s stock, valued at $3,310,677.18. The trade was a 10.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,370 shares of company stock worth $2,100,703. 1.50% of the stock is currently owned by insiders.

Alnylam Pharmaceuticals Profile

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.