Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Position Cut by Commerce Bank

Commerce Bank trimmed its holdings in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,522 shares of the biopharmaceutical company’s stock after selling 95 shares during the quarter. Commerce Bank’s holdings in Alnylam Pharmaceuticals were worth $1,244,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. TD Asset Management Inc boosted its stake in Alnylam Pharmaceuticals by 6.0% during the 2nd quarter. TD Asset Management Inc now owns 489,940 shares of the biopharmaceutical company’s stock valued at $119,055,000 after purchasing an additional 27,592 shares in the last quarter. Avoro Capital Advisors LLC boosted its stake in Alnylam Pharmaceuticals by 33.3% during the 2nd quarter. Avoro Capital Advisors LLC now owns 400,000 shares of the biopharmaceutical company’s stock valued at $97,200,000 after purchasing an additional 100,000 shares in the last quarter. Swiss National Bank boosted its stake in Alnylam Pharmaceuticals by 0.3% during the 3rd quarter. Swiss National Bank now owns 375,400 shares of the biopharmaceutical company’s stock valued at $103,246,000 after purchasing an additional 1,000 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Alnylam Pharmaceuticals by 3.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 283,933 shares of the biopharmaceutical company’s stock valued at $68,996,000 after purchasing an additional 10,143 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Alnylam Pharmaceuticals by 0.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 278,241 shares of the biopharmaceutical company’s stock valued at $76,525,000 after purchasing an additional 1,294 shares in the last quarter. 92.97% of the stock is owned by institutional investors.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ:ALNY opened at $244.89 on Monday. The company has a current ratio of 2.75, a quick ratio of 2.69 and a debt-to-equity ratio of 31.64. Alnylam Pharmaceuticals, Inc. has a 1 year low of $141.98 and a 1 year high of $304.39. The business has a fifty day simple moving average of $273.13 and a 200 day simple moving average of $238.67. The firm has a market cap of $31.59 billion, a price-to-earnings ratio of -93.47 and a beta of 0.39.

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 company had revenue of $500.90 million during the quarter, compared to analyst estimates of $532.91 million. During the same period last year, the company posted $1.15 EPS. The company’s quarterly revenue was down 33.3% compared to the same quarter last year. As a group, sell-side analysts predict that Alnylam Pharmaceuticals, Inc. will post -2.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ALNY. Canaccord Genuity Group increased their price target on Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Barclays raised their price objective on Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company raised their price objective on Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Piper Sandler reissued an “overweight” rating and set a $296.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Monday, November 18th. Finally, William Blair reissued an “outperform” rating on shares of Alnylam Pharmaceuticals in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $298.09.

Alnylam Pharmaceuticals 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.