Sivik Global Healthcare LLC has acquired a significant stake in Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY), purchasing 6,500 shares valued at approximately $2,120,000 during the second quarter of 2023. This investment was disclosed in a recent filing with the Securities and Exchange Commission. The acquisition reflects a growing interest from institutional investors in the biopharmaceutical sector.
Several other firms have also adjusted their holdings in Alnylam Pharmaceuticals. For instance, SVB Wealth LLC established a new position valued at around $27,000 in the first quarter. Bessemer Group Inc. significantly increased its stake by 176.9%, now owning 108 shares valued at $29,000 after adding 69 shares. Additionally, Ameritas Advisory Services LLC and Washington Trust Advisors Inc. have similarly increased their investments, with Washington Trust raising its position by 53.5% in the first quarter.
As of now, institutional investors control 92.97% of Alnylam’s stock, indicating strong institutional confidence in the company’s future prospects.
Analysts Weigh In on Alnylam Pharmaceuticals
The momentum surrounding Alnylam Pharmaceuticals has caught the attention of Wall Street analysts. Recently, Wall Street Zen adjusted its rating, moving from a “strong-buy” to a “buy.” In contrast, Piper Sandler raised its target price from $304.00 to $449.00, designating the company with an “overweight” rating. Other analysts, including those from Raymond James Financial and Oppenheimer, have initiated coverage and updated target prices, with Oppenheimer setting a target of $490.00.
A broad consensus has emerged, with 24 analysts rating the stock as a buy, three holding, and one recommending a sell. According to MarketBeat.com, Alnylam Pharmaceuticals currently holds an average rating of “Moderate Buy,” with an average target price of $457.16.
Alnylam Pharmaceuticals’ Financial Performance
Alnylam Pharmaceuticals opened at $459.66 on the last trading day, with a market capitalization of $60.25 billion. The firm reported impressive quarterly earnings on July 31, 2023, posting $0.32 earnings per share (EPS), surpassing the consensus estimate of ($0.54) by $0.86. The company generated revenue of $773.69 million, exceeding expectations of $633.54 million, reflecting a year-over-year revenue increase of 17.3%.
Despite these positive financial indicators, Alnylam has a negative return on equity of 273.52% and a net margin of -12.96%. The company has set its fiscal year 2025 guidance at EPS, with analysts predicting a current-year EPS of -1.7.
In recent insider trading activity, Executive Vice President Jeffrey V. Poulton sold 3,821 shares at an average price of $452.05 on October 2, 2023. This sale totaled $1,727,283.05, reducing his holdings to 54,052 shares valued at approximately $24,434,206.60. Another executive, Pushkal Garg, sold 3,022 shares on October 3, 2023, for $1,364,372.56, reflecting a 13.00% decrease in his ownership.
Overall, insiders have sold a total of 98,144 shares worth $44,160,261 over the past three months, while corporate insiders currently own 1.50% of Alnylam’s stock.
Alnylam Pharmaceuticals continues to focus on developing innovative therapeutics based on ribonucleic acid interference, with its marketed products addressing various serious health conditions. As the company navigates its financial landscape, the growing interest from institutional investors and positive analyst ratings may bolster its position in the competitive biopharmaceutical market.
