Pallas Capital Advisors LLC Takes Position in Alnylam Pharmaceuticals, Inc. $ALNY

Pallas Capital Advisors LLC acquired a new stake in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,203 shares of the biopharmaceutical company’s stock, valued at approximately $663,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. iA Global Asset Management Inc. boosted its stake in shares of Alnylam Pharmaceuticals by 979.5% in the 4th quarter. iA Global Asset Management Inc. now owns 17,780 shares of the biopharmaceutical company’s stock worth $7,070,000 after buying an additional 16,133 shares during the last quarter. SCS Capital Management LLC purchased a new stake in Alnylam Pharmaceuticals during the second quarter valued at $34,784,000. Hussman Strategic Advisors Inc. purchased a new stake in Alnylam Pharmaceuticals during the fourth quarter valued at $2,505,000. Hsbc Holdings PLC lifted its holdings in Alnylam Pharmaceuticals by 22.6% in the fourth quarter. Hsbc Holdings PLC now owns 89,517 shares of the biopharmaceutical company’s stock valued at $35,675,000 after acquiring an additional 16,503 shares during the period. Finally, Brighton Jones LLC bought a new position in Alnylam Pharmaceuticals in the fourth quarter valued at about $243,000. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Price Performance

NASDAQ ALNY opened at $242.61 on Thursday. The business’s fifty day moving average is $269.15 and its 200 day moving average is $298.51. Alnylam Pharmaceuticals, Inc. has a fifty-two week low of $197.81 and a fifty-two week high of $495.55. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.99 and a current ratio of 3.05. The company has a market capitalization of $32.46 billion, a PE ratio of 45.09 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, topping analysts’ consensus estimates of $1.63 by $0.21. Alnylam Pharmaceuticals had a return on equity of 84.93% and a net margin of 15.26%.The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the business posted ($0.51) earnings per share. The business’s quarterly revenue was up 66.9% on a year-over-year basis. Sell-side analysts predict that Alnylam Pharmaceuticals, Inc. will post 6.59 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on ALNY shares. Oppenheimer dropped their target price on Alnylam Pharmaceuticals from $500.00 to $350.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. Stifel Nicolaus lowered their price objective on shares of Alnylam Pharmaceuticals from $444.00 to $318.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Sanford C. Bernstein raised shares of Alnylam Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, July 29th. Wall Street Zen lowered shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Finally, HC Wainwright reduced their target price on shares of Alnylam Pharmaceuticals from $485.00 to $455.00 and set a “buy” rating for the company in a report on Friday, July 31st. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $386.62.

Insider Activity

In related news, Director David E. I. Pyott sold 3,830 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $299.18, for a total value of $1,145,859.40. Following the completion of the sale, the director directly owned 1,582 shares of the company’s stock, valued at approximately $473,302.76. This represents a 70.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.86% of the company’s stock.

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.