Prudential PLC Raises Stock Position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Prudential PLC grew its stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 41.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,280 shares of the biopharmaceutical company’s stock after purchasing an additional 1,264 shares during the quarter. Prudential PLC’s holdings in Alnylam Pharmaceuticals were worth $1,007,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ALNY. Larson Financial Group LLC boosted its position in shares of Alnylam Pharmaceuticals by 187.2% during the fourth quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 73 shares in the last quarter. R Squared Ltd purchased a new position in shares of Alnylam Pharmaceuticals during the fourth quarter valued at approximately $33,000. OFI Invest Asset Management bought a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter worth approximately $35,000. Versant Capital Management Inc grew its stake in shares of Alnylam Pharmaceuticals by 77.6% in the 4th quarter. Versant Capital Management Inc now owns 190 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 83 shares during the last quarter. Finally, IFP Advisors Inc increased its position in Alnylam Pharmaceuticals by 24.2% during the 4th quarter. IFP Advisors Inc now owns 241 shares of the biopharmaceutical company’s stock valued at $57,000 after buying an additional 47 shares in the last quarter. Institutional investors own 92.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on ALNY shares. Needham & Company LLC reissued a “buy” rating and issued a $320.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, March 21st. Scotiabank increased their price objective on shares of Alnylam Pharmaceuticals from $338.00 to $342.00 and gave the company a “sector outperform” rating in a research report on Monday, March 31st. Redburn Atlantic initiated coverage on shares of Alnylam Pharmaceuticals in a report on Monday, March 31st. They issued a “buy” rating and a $353.00 target price for the company. JPMorgan Chase & Co. upgraded shares of Alnylam Pharmaceuticals from a “neutral” rating to an “overweight” rating and increased their price target for the company from $280.00 to $328.00 in a report on Monday, March 24th. Finally, Canaccord Genuity Group raised their price target on shares of Alnylam Pharmaceuticals from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, Alnylam Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $316.25.

Insiders Place Their Bets

In other news, EVP Kevin Joseph Fitzgerald sold 1,440 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $251.56, for a total value of $362,246.40. Following the completion of the transaction, the executive vice president now owns 12,881 shares of the company’s stock, valued at $3,240,344.36. This represents a 10.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CMO Pushkal Garg sold 52,592 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $285.00, for a total value of $14,988,720.00. Following the sale, the chief marketing officer now directly owns 11,989 shares in the company, valued at $3,416,865. This trade represents a 81.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,234 shares of company stock worth $19,958,097 over the last three months. 1.50% of the stock is currently owned by company insiders.

Alnylam Pharmaceuticals Price Performance

NASDAQ ALNY opened at $232.95 on Tuesday. The company has a debt-to-equity ratio of 15.27, a quick ratio of 2.71 and a current ratio of 2.78. The business’s fifty day moving average is $258.16 and its 200 day moving average is $259.83. The company has a market capitalization of $30.30 billion, a PE ratio of -107.35 and a beta of 0.30. Alnylam Pharmaceuticals, Inc. has a fifty-two week low of $141.98 and a fifty-two week high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). Sell-side analysts predict that Alnylam Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

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.