Alnylam Pharmaceuticals, Inc. $ALNY Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp raised its position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 8.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,666 shares of the biopharmaceutical company’s stock after buying an additional 4,529 shares during the period. Van ECK Associates Corp’s holdings in Alnylam Pharmaceuticals were worth $17,660,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ALNY. MV Capital Management Inc. acquired a new position in Alnylam Pharmaceuticals during the 4th quarter worth $25,000. HM Payson & Co. acquired a new position in Alnylam Pharmaceuticals in the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC grew its stake in Alnylam Pharmaceuticals by 100.0% during the 4th quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 36 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Alnylam Pharmaceuticals during the third quarter worth about $29,000. Finally, Manchester Capital Management LLC increased its stake in shares of Alnylam Pharmaceuticals by 600.0% in the fourth quarter. Manchester Capital Management LLC now owns 84 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 72 shares during the period. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ALNY shares. Oppenheimer lowered their price target on Alnylam Pharmaceuticals from $500.00 to $350.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Royal Bank Of Canada dropped their target price on shares of Alnylam Pharmaceuticals from $445.00 to $350.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Needham & Company LLC cut their target price on shares of Alnylam Pharmaceuticals from $510.00 to $357.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. JPMorgan Chase & Co. decreased their price target on shares of Alnylam Pharmaceuticals from $400.00 to $375.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Finally, Citigroup dropped their price target on Alnylam Pharmaceuticals from $380.00 to $340.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $386.14.

Alnylam Pharmaceuticals Stock Performance

Alnylam Pharmaceuticals stock opened at $237.10 on Monday. Alnylam Pharmaceuticals, Inc. has a fifty-two week low of $197.81 and a fifty-two week high of $495.55. The firm’s 50 day simple moving average is $262.62 and its 200-day simple moving average is $293.54. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.05 and a quick ratio of 2.99. The company has a market cap of $31.73 billion, a P/E ratio of 44.07 and a beta of 0.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.63 by $0.21. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the firm earned ($0.51) EPS. The firm’s quarterly revenue was up 66.9% on a year-over-year basis. As a group, equities research analysts predict that Alnylam Pharmaceuticals, Inc. will post 6.59 EPS for the current 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.