LGT Fund Management Co Ltd. Makes New Investment in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

LGT Fund Management Co Ltd. purchased a new position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in the fourth quarter, Holdings Channel reports. The fund purchased 10,070 shares of the biopharmaceutical company’s stock, valued at approximately $2,370,000.

A number of other institutional investors also recently added to or reduced their stakes in ALNY. Jennison Associates LLC acquired a new position in Alnylam Pharmaceuticals during the 4th quarter worth $61,160,000. Proficio Capital Partners LLC boosted its position in Alnylam Pharmaceuticals by 25,929.6% during the 4th quarter. Proficio Capital Partners LLC now owns 193,660 shares of the biopharmaceutical company’s stock worth $45,570,000 after acquiring an additional 192,916 shares during the period. Strategic Financial Concepts LLC acquired a new position in Alnylam Pharmaceuticals during the 4th quarter worth $41,529,000. Eventide Asset Management LLC boosted its position in Alnylam Pharmaceuticals by 157.9% during the 3rd quarter. Eventide Asset Management LLC now owns 224,333 shares of the biopharmaceutical company’s stock worth $61,698,000 after acquiring an additional 137,333 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Alnylam Pharmaceuticals by 11,433.4% in the third quarter. Los Angeles Capital Management LLC now owns 137,017 shares of the biopharmaceutical company’s stock valued at $37,684,000 after buying an additional 135,829 shares during the period. Institutional investors and hedge funds own 92.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ALNY shares. Morgan Stanley upped their price objective on Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Royal Bank of Canada restated an “outperform” rating and issued a $310.00 price objective on shares of Alnylam Pharmaceuticals in a report on Wednesday, February 26th. Needham & Company LLC restated a “buy” rating and issued a $320.00 price objective on shares of Alnylam Pharmaceuticals in a report on Wednesday, February 26th. HC Wainwright upped their price objective on Alnylam Pharmaceuticals from $400.00 to $500.00 and gave the company a “buy” rating in a report on Monday, February 24th. Finally, Sanford C. Bernstein cut their price objective on Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $304.26.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, CMO Pushkal Garg sold 1,752 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $251.00, for a total value of $439,752.00. Following the transaction, the chief marketing officer now directly owns 15,705 shares of the company’s stock, valued at $3,941,955. This represents a 10.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Yvonne Greenstreet sold 1,213 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $255.17, for a total value of $309,521.21. Following the completion of the transaction, the chief executive officer now directly owns 81,526 shares in the company, valued at approximately $20,802,989.42. The trade was a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,986 shares of company stock valued at $20,397,849 in the last three months. Insiders own 1.50% of the company’s stock.

Alnylam Pharmaceuticals Stock Up 4.1 %

NASDAQ:ALNY opened at $246.75 on Monday. The firm has a market capitalization of $31.94 billion, a price-to-earnings ratio of -113.71 and a beta of 0.35. Alnylam Pharmaceuticals, Inc. has a 1-year low of $141.98 and a 1-year high of $304.39. The company has a current ratio of 2.78, a quick ratio of 2.71 and a debt-to-equity ratio of 15.27. The business’s fifty day moving average price is $254.32 and its 200 day moving average price is $262.21.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.03). On average, sell-side analysts forecast that Alnylam Pharmaceuticals, Inc. will post -1.7 earnings per share for the current fiscal year.

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.