Norges Bank Buys Shares of 2,456,082 Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Norges Bank purchased a new position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,456,082 shares of the biopharmaceutical company’s stock, valued at approximately $577,941,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cerity Partners LLC raised its holdings in shares of Alnylam Pharmaceuticals by 133.6% during the 3rd quarter. Cerity Partners LLC now owns 13,019 shares of the biopharmaceutical company’s stock valued at $3,581,000 after buying an additional 7,445 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Alnylam Pharmaceuticals during the third quarter worth approximately $45,000. Quantbot Technologies LP lifted its holdings in shares of Alnylam Pharmaceuticals by 1,754.5% in the 3rd quarter. Quantbot Technologies LP now owns 204 shares of the biopharmaceutical company’s stock worth $56,000 after acquiring an additional 193 shares during the last quarter. Bridgewater Associates LP purchased a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at $551,000. Finally, Blueshift Asset Management LLC bought a new position in shares of Alnylam Pharmaceuticals during the 3rd quarter valued at $293,000. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Insider Activity

In other news, EVP Kevin Joseph Fitzgerald sold 663 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $255.21, for a total transaction of $169,204.23. Following the sale, the executive vice president now owns 14,321 shares in the company, valued at $3,654,862.41. This represents a 4.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Phillip A. Sharp sold 11,250 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $275.00, for a total transaction of $3,093,750.00. The disclosure for this sale can be found here. Insiders sold 71,234 shares of company stock worth $19,958,097 over the last three months. 1.50% of the stock is currently owned by corporate insiders.

Alnylam Pharmaceuticals Trading Down 0.9 %

NASDAQ:ALNY opened at $268.46 on Friday. Alnylam Pharmaceuticals, Inc. has a one year low of $141.98 and a one year high of $304.39. The company’s 50-day simple moving average is $259.86 and its 200 day simple moving average is $260.50. The firm has a market capitalization of $34.92 billion, a P/E ratio of -123.71 and a beta of 0.39. 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) last posted its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.03). As a group, analysts forecast that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on ALNY shares. Wells Fargo & Company boosted their price target on shares of Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the stock an “equal weight” rating in a research note on Friday, March 21st. HC Wainwright boosted their target price on Alnylam Pharmaceuticals from $400.00 to $500.00 and gave the company a “buy” rating in a research note on Monday, February 24th. JPMorgan Chase & Co. upgraded Alnylam Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $280.00 to $328.00 in a research report on Monday, March 24th. Citigroup boosted their price objective on Alnylam Pharmaceuticals from $338.00 to $351.00 and gave the company a “buy” rating in a research report on Friday, March 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $320.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $312.30.

About Alnylam Pharmaceuticals

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.