Westpac Banking Corp Invests $792,000 in Alnylam Pharmaceuticals, Inc. $ALNY

Westpac Banking Corp bought a new position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,632 shares of the biopharmaceutical company’s stock, valued at approximately $792,000.

Several other hedge funds have also modified their holdings of ALNY. Brighton Jones LLC purchased a new stake in Alnylam Pharmaceuticals in the fourth quarter valued at approximately $243,000. Geneos Wealth Management Inc. raised its stake in Alnylam Pharmaceuticals by 372.3% during the first quarter. Geneos Wealth Management Inc. now owns 222 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 175 shares during the period. Flow Traders U.S. LLC purchased a new position in Alnylam Pharmaceuticals during the second quarter worth approximately $241,000. Daiwa Securities Group Inc. raised its stake in Alnylam Pharmaceuticals by 0.3% during the second quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company’s stock worth $4,220,000 after purchasing an additional 35 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of Alnylam Pharmaceuticals by 70,300.0% in the 2nd quarter. NewEdge Advisors LLC now owns 704 shares of the biopharmaceutical company’s stock valued at $229,000 after purchasing an additional 703 shares during the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director David E. I. Pyott sold 3,830 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $299.18, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.86% of the company’s stock.

Alnylam Pharmaceuticals Trading Up 3.0%

Shares of ALNY stock opened at $236.22 on Friday. The company has a quick ratio of 2.99, a current ratio of 3.05 and a debt-to-equity ratio of 0.75. Alnylam Pharmaceuticals, Inc. has a fifty-two week low of $197.81 and a fifty-two week high of $495.55. The firm’s 50 day moving average price is $267.02 and its two-hundred day moving average price is $297.32. The stock has a market cap of $31.61 billion, a price-to-earnings ratio of 43.91 and a beta of 0.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.21. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the business earned ($0.51) earnings per share. The business’s quarterly revenue was up 66.9% compared to the same quarter last year. On average, analysts anticipate that Alnylam Pharmaceuticals, Inc. will post 6.59 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ALNY. Raymond James Financial raised shares of Alnylam Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and set a $420.00 price objective for the company in a research note on Monday, August 3rd. JPMorgan Chase & Co. cut their target price on Alnylam Pharmaceuticals from $400.00 to $375.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Wall Street Zen cut Alnylam Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Sunday, August 2nd. BMO Capital Markets assumed coverage on Alnylam Pharmaceuticals in a research report on Wednesday. They set an “outperform” rating and a $318.00 price target for the company. Finally, Citigroup dropped their price target on Alnylam Pharmaceuticals from $380.00 to $340.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Alnylam Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $386.62.

Alnylam Pharmaceuticals Company Profile

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.