Envestnet Asset Management Inc. Increases Stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Envestnet Asset Management Inc. grew its holdings in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 110.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,014 shares of the biopharmaceutical company's stock after buying an additional 34,647 shares during the period. Envestnet Asset Management Inc. owned 0.05% of Alnylam Pharmaceuticals worth $15,534,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Allworth Financial LP increased its stake in shares of Alnylam Pharmaceuticals by 6.8% during the fourth quarter. Allworth Financial LP now owns 597 shares of the biopharmaceutical company's stock valued at $140,000 after purchasing an additional 38 shares in the last quarter. Nixon Peabody Trust Co. increased its holdings in shares of Alnylam Pharmaceuticals by 1.9% during the fourth quarter. Nixon Peabody Trust Co. now owns 2,293 shares of the biopharmaceutical company's stock valued at $540,000 after acquiring an additional 43 shares in the last quarter. IFP Advisors Inc boosted its stake in Alnylam Pharmaceuticals by 24.2% in the 4th quarter. IFP Advisors Inc now owns 241 shares of the biopharmaceutical company's stock worth $57,000 after purchasing an additional 47 shares in the last quarter. Nwam LLC lifted its stake in shares of Alnylam Pharmaceuticals by 5.8% in the fourth quarter. Nwam LLC now owns 906 shares of the biopharmaceutical company's stock worth $213,000 after buying an additional 50 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Alnylam Pharmaceuticals by 9.0% in the fourth quarter. National Bank of Canada FI now owns 668 shares of the biopharmaceutical company's stock worth $157,000 after purchasing an additional 55 shares during the last quarter. 92.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Kevin Joseph Fitzgerald sold 663 shares of Alnylam Pharmaceuticals stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $255.21, for a total value of $169,204.23. Following the completion of the transaction, the executive vice president now owns 14,321 shares in the company, valued at $3,654,862.41. The trade was a 4.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Pushkal Garg sold 52,592 shares of the company's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $285.00, for a total value of $14,988,720.00. Following the completion of the transaction, the chief marketing officer now directly owns 11,989 shares of the company's stock, valued at $3,416,865. The trade was a 81.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,234 shares of company stock valued at $19,958,097 in the last three months. 1.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Canaccord Genuity Group lifted their price objective on Alnylam Pharmaceuticals from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Friday, March 21st. HC Wainwright reaffirmed a "buy" rating and set a $500.00 price target on shares of Alnylam Pharmaceuticals in a research report on Wednesday, April 2nd. Needham & Company LLC reissued a "buy" rating and issued a $320.00 price objective on shares of Alnylam Pharmaceuticals in a report on Wednesday, April 9th. Scotiabank upped their target price on shares of Alnylam Pharmaceuticals from $338.00 to $342.00 and gave the company a "sector outperform" rating in a report on Monday, March 31st. Finally, William Blair reaffirmed an "outperform" rating on shares of Alnylam Pharmaceuticals in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $315.58.

Alnylam Pharmaceuticals Stock Performance

NASDAQ:ALNY traded up $4.06 during mid-day trading on Friday, hitting $234.56. The company's stock had a trading volume of 601,349 shares, compared to its average volume of 872,674. The business's fifty day moving average is $249.14 and its two-hundred day moving average is $256.89. The stock has a market cap of $30.51 billion, a price-to-earnings ratio of -108.09 and a beta of 0.30. The company has a debt-to-equity ratio of 15.27, a current ratio of 2.78 and a quick ratio of 2.71. Alnylam Pharmaceuticals, Inc. has a 1 year low of $141.98 and a 1 year high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.03). Analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS 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.