Norges Bank Invests $577.94 Million in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Norges Bank bought a new stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,456,082 shares of the biopharmaceutical company's stock, valued at approximately $577,941,000. Norges Bank owned 1.90% of Alnylam Pharmaceuticals at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ALNY. Larson Financial Group LLC increased its stake in shares of Alnylam Pharmaceuticals by 187.2% in the fourth quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company's stock worth $26,000 after buying an additional 73 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter valued at about $33,000. OFI Invest Asset Management bought a new position in shares of Alnylam Pharmaceuticals during the fourth quarter worth about $35,000. True Wealth Design LLC increased its holdings in Alnylam Pharmaceuticals by 15,300.0% in the third quarter. True Wealth Design LLC now owns 154 shares of the biopharmaceutical company's stock valued at $42,000 after buying an additional 153 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Alnylam Pharmaceuticals during the 3rd quarter valued at approximately $45,000. 92.97% of the stock is owned by institutional investors and hedge funds.

Alnylam Pharmaceuticals Stock Performance

NASDAQ ALNY traded up $6.34 during trading hours on Wednesday, hitting $262.10. The company's stock had a trading volume of 384,925 shares, compared to its average volume of 784,357. The company has a market cap of $34.10 billion, a P/E ratio of -120.78 and a beta of 0.39. The company's 50 day simple moving average is $260.15 and its two-hundred day simple moving average is $260.51. Alnylam Pharmaceuticals, Inc. has a 12 month low of $141.98 and a 12 month high of $304.39. 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 (NASDAQ:ALNY - Get Free Report) last announced its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing analysts' consensus estimates of ($0.62) by ($0.03). As a group, sell-side analysts expect that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In related news, EVP Kevin Joseph Fitzgerald sold 1,440 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $251.56, for a total transaction of $362,246.40. Following the transaction, the executive vice president now directly owns 12,881 shares in the company, valued at $3,240,344.36. The trade was a 10.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Yvonne Greenstreet sold 1,213 shares of Alnylam Pharmaceuticals 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 sale, the chief executive officer now directly owns 81,526 shares of the company's stock, valued at approximately $20,802,989.42. This represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,234 shares of company stock valued at $19,958,097 over the last 90 days. 1.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ALNY has been the topic of several research reports. JPMorgan Chase & Co. upgraded shares of Alnylam Pharmaceuticals from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $280.00 to $328.00 in a research note on Monday, March 24th. Canaccord Genuity Group raised their target price on Alnylam Pharmaceuticals from $385.00 to $390.00 and gave the company a "buy" rating in a research note on Friday, March 21st. Stifel Nicolaus raised their price objective on Alnylam Pharmaceuticals from $300.00 to $345.00 and gave the stock a "buy" rating in a research note on Monday. Bank of America upped their price target on shares of Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the company a "buy" rating in a research report on Friday, March 21st. Finally, HC Wainwright reaffirmed a "buy" rating and set a $500.00 target price on shares of Alnylam Pharmaceuticals in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $316.25.

Alnylam Pharmaceuticals Company 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.