118,800 Shares in Alnylam Pharmaceuticals, Inc. $ALNY Purchased by Congress Asset Management Co.

Congress Asset Management Co. bought a new stake in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 118,800 shares of the biopharmaceutical company’s stock, valued at approximately $54,173,000. Congress Asset Management Co. owned 0.09% of Alnylam Pharmaceuticals at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Riversedge Advisors LLC bought a new position in shares of Alnylam Pharmaceuticals in the third quarter valued at approximately $215,000. Hilltop National Bank acquired a new stake in Alnylam Pharmaceuticals in the third quarter worth approximately $41,000. Fiduciary Alliance LLC bought a new position in Alnylam Pharmaceuticals during the 3rd quarter valued at $243,000. Cooper Financial Group acquired a new position in shares of Alnylam Pharmaceuticals during the 3rd quarter valued at $272,000. Finally, Orser Capital Management LLC bought a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter worth $704,000. 92.97% of the stock is currently owned by institutional investors.

Alnylam Pharmaceuticals Price Performance

ALNY opened at $400.23 on Friday. The firm has a market capitalization of $52.87 billion, a P/E ratio of 1,667.63 and a beta of 0.30. The stock has a fifty day moving average of $446.19 and a 200-day moving average of $410.61. The company has a quick ratio of 2.49, a current ratio of 2.54 and a debt-to-equity ratio of 4.45. Alnylam Pharmaceuticals, Inc. has a 12-month low of $205.87 and a 12-month high of $495.55.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, EVP Pushkal Garg sold 3,022 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $451.48, for a total value of $1,364,372.56. Following the transaction, the executive vice president owned 20,221 shares in the company, valued at approximately $9,129,377.08. This represents a 13.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tolga Tanguler sold 1,405 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $452.05, for a total transaction of $635,130.25. Following the completion of the sale, the executive vice president owned 27,438 shares of the company’s stock, valued at approximately $12,403,347.90. The trade was a 4.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 60,328 shares of company stock worth $27,288,993 over the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on ALNY. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alnylam Pharmaceuticals in a research note on Wednesday, October 8th. Citigroup raised their price objective on shares of Alnylam Pharmaceuticals from $527.00 to $583.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. JPMorgan Chase & Co. dropped their target price on shares of Alnylam Pharmaceuticals from $475.00 to $473.00 and set an “overweight” rating on the stock in a report on Monday, October 13th. Barclays increased their target price on shares of Alnylam Pharmaceuticals from $460.00 to $527.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Finally, HC Wainwright set a $570.00 price target on shares of Alnylam Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Twenty-three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $477.44.

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.