The Manufacturers Life Insurance Company Decreases Stock Holdings in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

The Manufacturers Life Insurance Company decreased its holdings in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 41.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,382 shares of the biopharmaceutical company’s stock after selling 137,655 shares during the period. The Manufacturers Life Insurance Company’s holdings in Alnylam Pharmaceuticals were worth $52,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC purchased a new position in Alnylam Pharmaceuticals in the 2nd quarter valued at $26,000. Huntington National Bank lifted its holdings in Alnylam Pharmaceuticals by 91.8% in the 3rd quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 45 shares in the last quarter. Hollencrest Capital Management purchased a new position in Alnylam Pharmaceuticals in the 3rd quarter valued at $29,000. Washington Trust Advisors Inc. purchased a new position in Alnylam Pharmaceuticals in the 3rd quarter valued at $42,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Alnylam Pharmaceuticals in the 3rd quarter valued at $45,000. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ALNY. Citigroup raised their price objective on Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the company a “buy” rating in a report on Friday, August 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $400.00 target price on shares of Alnylam Pharmaceuticals in a research note on Monday, November 18th. Scotiabank raised their target price on Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. William Blair reaffirmed an “outperform” rating on shares of Alnylam Pharmaceuticals in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group raised Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their target price for the stock from $198.00 to $370.00 in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $298.09.

Insider Activity

In related news, CEO Yvonne Greenstreet sold 5,219 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total transaction of $1,309,864.62. Following the completion of the sale, the chief executive officer now owns 78,880 shares in the company, valued at $19,797,302.40. The trade was a 6.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Pushkal Garg sold 1,682 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total value of $422,148.36. Following the sale, the chief marketing officer now owns 17,457 shares of the company’s stock, valued at approximately $4,381,357.86. The trade was a 8.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,370 shares of company stock worth $2,100,703. 1.50% of the stock is currently owned by company insiders.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY opened at $253.74 on Friday. The stock has a 50-day simple moving average of $271.93 and a 200-day simple moving average of $240.19. The company has a debt-to-equity ratio of 31.64, a quick ratio of 2.69 and a current ratio of 2.75. The stock has a market capitalization of $32.73 billion, a PE ratio of -96.85 and a beta of 0.39. Alnylam Pharmaceuticals, Inc. has a 1 year low of $141.98 and a 1 year high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.36). The firm had revenue of $500.90 million during the quarter, compared to analyst estimates of $532.91 million. The business’s revenue for the quarter was down 33.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.15 EPS. On average, analysts predict that Alnylam Pharmaceuticals, Inc. will post -2.21 earnings per share for the current fiscal 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.