Telemark Asset Management LLC Makes New $27.50 Million Investment in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Telemark Asset Management LLC acquired a new stake in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 100,000 shares of the biopharmaceutical company’s stock, valued at approximately $27,503,000. Alnylam Pharmaceuticals comprises approximately 2.8% of Telemark Asset Management LLC’s investment portfolio, making the stock its 10th largest position.

Several other hedge funds have also recently made changes to their positions in ALNY. Ashton Thomas Private Wealth LLC purchased a new position in shares of Alnylam Pharmaceuticals during the second quarter valued at approximately $26,000. Huntington National Bank raised its holdings in shares of Alnylam Pharmaceuticals by 91.8% during the third quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 45 shares during the last quarter. Hollencrest Capital Management purchased a new position in shares of Alnylam Pharmaceuticals during the third quarter valued at approximately $29,000. Washington Trust Advisors Inc. purchased a new position in shares of Alnylam Pharmaceuticals during the third quarter valued at approximately $42,000. Finally, Friedenthal Financial bought a new stake in Alnylam Pharmaceuticals during the third quarter valued at approximately $51,000. 92.97% of the stock is owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Stock Performance

ALNY opened at $247.05 on Friday. The stock has a market capitalization of $31.86 billion, a price-to-earnings ratio of -94.29 and a beta of 0.39. The company has a fifty day moving average of $273.54 and a 200 day moving average of $236.84. Alnylam Pharmaceuticals, Inc. has a fifty-two week low of $141.98 and a fifty-two week high of $304.39. The company has a debt-to-equity ratio of 31.64, a quick ratio of 2.69 and a current ratio of 2.75.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.36). The company had revenue of $500.90 million for the quarter, compared to the consensus estimate of $532.91 million. The business’s quarterly revenue was down 33.3% compared to the same quarter last year. During the same period last year, the firm earned $1.15 earnings per share. As a group, sell-side analysts forecast that Alnylam Pharmaceuticals, Inc. will post -2.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ALNY. Canaccord Genuity Group boosted their target price on shares of Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Citigroup boosted their target price on shares of Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Cantor Fitzgerald restated a “neutral” rating and set a $220.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday, October 11th. JPMorgan Chase & Co. boosted their target price on shares of Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Finally, Wolfe Research lowered shares of Alnylam Pharmaceuticals from a “peer perform” rating to an “underperform” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $298.09.

Alnylam Pharmaceuticals 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.