Van ECK Associates Corp Cuts Stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Van ECK Associates Corp reduced its position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 5.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,399 shares of the biopharmaceutical company’s stock after selling 3,539 shares during the quarter. Van ECK Associates Corp’s holdings in Alnylam Pharmaceuticals were worth $16,925,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Capital Research Global Investors lifted its position in Alnylam Pharmaceuticals by 7.3% during the first quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock valued at $470,018,000 after purchasing an additional 214,908 shares during the period. Price T Rowe Associates Inc. MD grew its stake in 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 acquiring an additional 201,784 shares in the last quarter. AQR Capital Management LLC grew its stake in Alnylam Pharmaceuticals by 92.5% during the 2nd quarter. AQR Capital Management LLC now owns 271,619 shares of the biopharmaceutical company’s stock valued at $65,862,000 after acquiring an additional 130,482 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Alnylam Pharmaceuticals during the 1st quarter valued at about $18,886,000. Finally, Deerfield Management Company L.P. Series C purchased a new stake in Alnylam Pharmaceuticals during the 2nd quarter valued at about $29,111,000. 92.97% of the stock is owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY stock opened at $265.29 on Wednesday. The company has a debt-to-equity ratio of 31.64, a current ratio of 2.75 and a quick ratio of 2.69. The stock has a market cap of $34.22 billion, a PE ratio of -101.26 and a beta of 0.39. The stock has a 50-day moving average of $274.33 and a 200-day moving average of $228.73. Alnylam Pharmaceuticals, Inc. has a one year low of $141.98 and a one year high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.36). The firm had revenue of $500.90 million during the quarter, compared to the consensus estimate of $532.91 million. Alnylam Pharmaceuticals’s revenue was down 33.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.15 earnings per share. As a group, sell-side analysts expect that Alnylam Pharmaceuticals, Inc. will post -2.67 earnings per share for the current year.

Analysts Set New Price Targets

ALNY has been the topic of several recent analyst reports. The Goldman Sachs Group upgraded shares of Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $198.00 to $370.00 in a report on Friday, August 16th. Raymond James raised their price objective on shares of Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. Citigroup increased their target price on shares of Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley raised their price objective on shares of Alnylam Pharmaceuticals from $250.00 to $255.00 and gave the stock an “equal weight” rating in a research report on Friday, July 12th. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $294.50.

Insider Activity

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total transaction of $4,200,000.00. Following the sale, the chief executive officer now directly owns 73,441 shares in the company, valued at approximately $20,563,480. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.50% of the stock is currently owned by company insiders.

Alnylam Pharmaceuticals Company Profile

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.