Polymer Capital Management HK LTD Invests $19.55 Million in Alnylam Pharmaceuticals, Inc. $ALNY

Polymer Capital Management HK LTD bought a new stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) during the second quarter, Holdings Channel.com reports. The fund bought 64,957 shares of the biopharmaceutical company’s stock, valued at approximately $19,554,000. Alnylam Pharmaceuticals accounts for approximately 1.0% of Polymer Capital Management HK LTD’s holdings, making the stock its 10th largest position.

A number of other institutional investors have also recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Alnylam Pharmaceuticals during the 2nd quarter worth $200,000. Meiji Yasuda Asset Management Co Ltd. bought a new position in Alnylam Pharmaceuticals in the second quarter valued at $327,000. Bank of Nova Scotia bought a new position in Alnylam Pharmaceuticals in the second quarter valued at $2,447,000. Elevation Point Wealth Partners LLC purchased a new stake in Alnylam Pharmaceuticals during the second quarter valued at about $396,000. Finally, Daiichi Life Insurance Co. Ltd. purchased a new stake in Alnylam Pharmaceuticals during the second quarter valued at about $1,768,000. Institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Stock Performance

Alnylam Pharmaceuticals stock opened at $236.22 on Monday. The company has a quick ratio of 2.99, a current ratio of 3.05 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $31.61 billion, a PE ratio of 43.91 and a beta of 0.30. The firm has a fifty day simple moving average of $267.02 and a two-hundred day simple moving average of $297.02. Alnylam Pharmaceuticals, Inc. has a twelve month low of $197.81 and a twelve month high of $495.55.

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

Insiders Place Their Bets

In related 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 $473,302.76. This represents a 70.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ALNY. Truist Financial cut their price objective on Alnylam Pharmaceuticals from $410.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Needham & Company LLC decreased their price objective on Alnylam Pharmaceuticals from $510.00 to $357.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Royal Bank Of Canada decreased their price objective on Alnylam Pharmaceuticals from $445.00 to $350.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. JPMorgan Chase & Co. dropped their target price on Alnylam Pharmaceuticals from $400.00 to $375.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Finally, Morgan Stanley cut their target price on Alnylam Pharmaceuticals from $400.00 to $300.00 and set an “equal weight” rating for the company in a research note on Friday, July 31st. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $386.62.

Alnylam Pharmaceuticals 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.