Cibc World Market Inc. Invests $2.17 Million in Alnylam Pharmaceuticals, Inc. $ALNY

Cibc World Market Inc. acquired a new stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 7,221 shares of the biopharmaceutical company’s stock, valued at approximately $2,174,000.

A number of other large investors have also added to or reduced their stakes in the business. Daiwa Securities Group Inc. boosted its position in Alnylam Pharmaceuticals by 0.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company’s stock worth $4,220,000 after buying an additional 35 shares during the period. Golden State Wealth Management LLC increased its position in Alnylam Pharmaceuticals by 100.0% in the 4th quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 36 shares during the period. Coldstream Capital Management Inc. increased its position in Alnylam Pharmaceuticals by 2.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,640 shares of the biopharmaceutical company’s stock valued at $748,000 after acquiring an additional 38 shares during the period. Atlantic Union Bankshares Corp raised its stake in shares of Alnylam Pharmaceuticals by 20.9% during the fourth quarter. Atlantic Union Bankshares Corp now owns 231 shares of the biopharmaceutical company’s stock valued at $92,000 after acquiring an additional 40 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC raised its stake in shares of Alnylam Pharmaceuticals by 3.3% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 1,266 shares of the biopharmaceutical company’s stock valued at $577,000 after acquiring an additional 40 shares during the last quarter. Institutional investors own 92.97% of the company’s stock.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of the stock in a transaction dated Monday, June 1st. The stock was 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 in the company, valued at approximately $473,302.76. This trade represents a 70.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.86% of the company’s stock.

Alnylam Pharmaceuticals Trading Down 0.4%

NASDAQ:ALNY opened at $239.00 on Thursday. Alnylam Pharmaceuticals, Inc. has a 52 week low of $197.81 and a 52 week high of $495.55. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.99 and a current ratio of 3.05. The firm’s fifty day moving average is $264.27 and its 200-day moving average is $294.77. The firm has a market cap of $31.98 billion, a P/E ratio of 44.42 and a beta of 0.30.

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

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wall Street Zen cut shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Chardan Capital reaffirmed a “buy” rating and set a $425.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday, July 31st. HC Wainwright cut their target price on Alnylam Pharmaceuticals from $485.00 to $455.00 and set a “buy” rating on the stock in a report on Friday, July 31st. BMO Capital Markets began coverage on Alnylam Pharmaceuticals in a research report on Wednesday, August 19th. They issued an “outperform” rating and a $318.00 price target on the stock. Finally, Oppenheimer decreased their price target on Alnylam Pharmaceuticals from $500.00 to $350.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $386.14.

About Alnylam Pharmaceuticals

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.