Alnylam Pharmaceuticals, Inc. $ALNY Stock: Pictet Asset Management Holding SA Grows Stake

Pictet Asset Management Holding SA increased its position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 77.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 495,168 shares of the biopharmaceutical company’s stock after buying an additional 216,555 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Alnylam Pharmaceuticals were worth $122,783,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Legal & General Group Plc bought a new position in Alnylam Pharmaceuticals during the second quarter valued at approximately $278,321,000. Bank of New York Mellon Corp purchased a new position in shares of Alnylam Pharmaceuticals during the second quarter worth approximately $148,128,000. Canada Pension Plan Investment Board purchased a new position in shares of Alnylam Pharmaceuticals during the second quarter worth approximately $100,618,000. Korea Investment CORP bought a new stake in shares of Alnylam Pharmaceuticals in the 2nd quarter worth approximately $74,553,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Alnylam Pharmaceuticals by 9.0% in the 2nd quarter. Wellington Management Group LLP now owns 2,110,407 shares of the biopharmaceutical company’s stock worth $635,296,000 after acquiring an additional 174,482 shares during the last quarter. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Insider Transactions at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, EVP Bryan Supran sold 1,758 shares of the business’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $226.88, for a total transaction of $398,855.04. Following the completion of the sale, the executive vice president directly owned 12,807 shares in the company, valued at $2,905,652.16. The trade was a 12.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.

Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ:ALNY opened at $155.94 on Monday. 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 company has a market cap of $20.89 billion, a P/E ratio of 8.10 and a beta of 0.43. The stock’s fifty day moving average price is $228.57 and its 200-day moving average price is $281.10. Alnylam Pharmaceuticals, Inc. has a 1 year low of $154.30 and a 1 year high of $479.79.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported $16.26 earnings per share (EPS) 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 firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the firm posted $2.90 EPS. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. Sell-side analysts expect that Alnylam Pharmaceuticals, Inc. will post 6.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

ALNY has been the subject of a number of research reports. Raymond James Financial cut shares of Alnylam Pharmaceuticals from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $420.00 to $315.00 in a research note on Friday, October 30th. Royal Bank Of Canada lowered their price objective on Alnylam Pharmaceuticals from $345.00 to $280.00 and set an “outperform” rating for the company in a research report on Friday, October 30th. Sanford C. Bernstein downgraded shares of Alnylam Pharmaceuticals from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $376.00 to $199.00 in a research note on Friday, October 30th. Zacks Research lowered Alnylam Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 23rd. Finally, Bank of America reaffirmed a “buy” rating and set a $287.00 price objective (down from $460.00) on shares of Alnylam Pharmaceuticals in a research report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.86.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals is a biopharmaceutical company focused on discovering, developing and commercializing medicines based on RNA interference (RNAi), a biological process that can reduce the production of specific disease-causing proteins. Founded in 2002 and headquartered in Cambridge, Massachusetts, the company helped advance RNAi from a scientific discovery into a therapeutic approach.

Its marketed medicines 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.