Van ECK Associates Corp Increases Position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Van ECK Associates Corp lifted its position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 5.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,938 shares of the biopharmaceutical company’s stock after buying an additional 3,015 shares during the quarter. Van ECK Associates Corp’s holdings in Alnylam Pharmaceuticals were worth $14,808,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ALNY. Norges Bank purchased a new stake in Alnylam Pharmaceuticals during the 4th quarter valued at approximately $390,438,000. Capital International Investors grew its stake in Alnylam Pharmaceuticals by 15.8% during the fourth quarter. Capital International Investors now owns 3,586,657 shares of the biopharmaceutical company’s stock valued at $686,641,000 after acquiring an additional 488,814 shares in the last quarter. Vanguard Group Inc. increased its holdings in Alnylam Pharmaceuticals by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock valued at $2,286,181,000 after acquiring an additional 287,064 shares during the last quarter. Capital Research Global Investors lifted its stake in Alnylam Pharmaceuticals by 7.3% in the 1st quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock worth $470,018,000 after purchasing an additional 214,908 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Alnylam Pharmaceuticals by 5.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock valued at $550,837,000 after purchasing an additional 201,784 shares during the last quarter. Institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Trading Down 8.5 %

NASDAQ ALNY opened at $262.69 on Monday. The stock has a market cap of $33.72 billion, a PE ratio of -98.02 and a beta of 0.37. Alnylam Pharmaceuticals, Inc. has a 12 month low of $141.98 and a 12 month high of $287.55. The company’s 50-day moving average price is $255.96 and its 200-day moving average price is $187.86.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.61. The company had revenue of $659.83 million during the quarter, compared to analysts’ expectations of $447.22 million. Alnylam Pharmaceuticals’s quarterly revenue was up 107.0% on a year-over-year basis. During the same period last year, the firm earned ($2.21) earnings per share. As a group, sell-side analysts forecast that Alnylam Pharmaceuticals, Inc. will post -2.82 earnings per share for the current year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 8,301 shares of Alnylam Pharmaceuticals stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total transaction of $1,917,447.99. Following the completion of the sale, the chief executive officer now directly owns 80,534 shares of the company’s stock, valued at approximately $18,602,548.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Yvonne Greenstreet sold 8,301 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total transaction of $1,917,447.99. Following the transaction, the chief executive officer now owns 80,534 shares in the company, valued at $18,602,548.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David E. I. Pyott sold 32,450 shares of Alnylam Pharmaceuticals stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $220.69, for a total value of $7,161,390.50. Following the completion of the sale, the director now owns 136 shares of the company’s stock, valued at $30,013.84. The disclosure for this sale can be found here. Insiders have sold a total of 103,148 shares of company stock valued at $25,658,824 over the last quarter. 1.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ALNY shares. Bank of America lifted their target price on Alnylam Pharmaceuticals from $248.00 to $295.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Barclays upped their price objective on Alnylam Pharmaceuticals from $291.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Citigroup raised their target price on shares of Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Cantor Fitzgerald boosted their price target on shares of Alnylam Pharmaceuticals from $150.00 to $220.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, Leerink Partners increased their price objective on shares of Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the company a “market perform” rating in a research report on Tuesday, June 25th. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $278.59.

About Alnylam Pharmaceuticals

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.