Principal Financial Group Inc. Decreases Stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Principal Financial Group Inc. trimmed its position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 25.2% during the third quarter, Holdings Channel reports. The institutional investor owned 10,608 shares of the biopharmaceutical company’s stock after selling 3,581 shares during the quarter. Principal Financial Group Inc.’s holdings in Alnylam Pharmaceuticals were worth $2,918,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Plato Investment Management Ltd increased its position in shares of Alnylam Pharmaceuticals by 2,666.3% in the 1st quarter. Plato Investment Management Ltd now owns 4,509 shares of the biopharmaceutical company’s stock valued at $674,000 after purchasing an additional 4,346 shares during the last quarter. Diversified Trust Co purchased a new position in shares of Alnylam Pharmaceuticals in the 2nd quarter valued at about $1,210,000. Breakwater Capital Group acquired a new stake in shares of Alnylam Pharmaceuticals during the 2nd quarter worth about $249,000. Sanctuary Advisors LLC purchased a new stake in Alnylam Pharmaceuticals during the second quarter worth approximately $578,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Alnylam Pharmaceuticals by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock valued at $550,837,000 after purchasing an additional 201,784 shares during the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on ALNY shares. Canaccord Genuity Group increased 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. William Blair reiterated an “outperform” rating on shares of Alnylam Pharmaceuticals in a research report on Tuesday. Scotiabank raised their price target on Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. Chardan Capital reissued a “buy” rating and issued a $300.00 price objective on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. Finally, Citigroup lifted their target price on shares of Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the company a “buy” rating in a report on Friday, August 2nd. 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $298.09.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ ALNY opened at $244.89 on Friday. The company’s fifty day moving average is $273.54 and its two-hundred day moving average is $236.84. The company has a debt-to-equity ratio of 31.64, a quick ratio of 2.69 and a current ratio of 2.75. The firm has a market capitalization of $31.59 billion, a P/E ratio of -93.35 and a beta of 0.39. Alnylam Pharmaceuticals, Inc. has a one year low of $141.98 and a one year high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued 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 business had revenue of $500.90 million for the quarter, compared to the consensus estimate of $532.91 million. During the same quarter in the prior year, the firm earned $1.15 EPS. The company’s revenue for the quarter was down 33.3% compared to the same quarter last year. Analysts forecast that Alnylam Pharmaceuticals, Inc. will post -2.22 EPS for the current fiscal year.

Alnylam Pharmaceuticals Company 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.