PNC Financial Services Group Inc. Increases Stock Position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

PNC Financial Services Group Inc. boosted its stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 1.2% in the third quarter, Holdings Channel.com reports. The fund owned 12,543 shares of the biopharmaceutical company’s stock after buying an additional 144 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Alnylam Pharmaceuticals were worth $3,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Alnylam Pharmaceuticals in the second quarter valued at about $26,000. Huntington National Bank increased its stake 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 worth $26,000 after acquiring an additional 45 shares during the period. Hollencrest Capital Management acquired a new position in shares of Alnylam Pharmaceuticals during the third quarter worth about $29,000. Washington Trust Advisors Inc. acquired a new position in shares of Alnylam Pharmaceuticals during the third quarter worth about $42,000. Finally, Friedenthal Financial acquired a new position in shares of Alnylam Pharmaceuticals during the third quarter worth about $51,000. 92.97% of the stock is owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Trading Down 0.8 %

Shares of ALNY stock opened at $244.89 on Monday. The firm has a 50-day moving average price of $273.13 and a 200 day moving average price of $238.67. Alnylam Pharmaceuticals, Inc. has a twelve month low of $141.98 and a twelve month high of $304.39. The company has a market capitalization of $31.59 billion, a price-to-earnings ratio of -93.47 and a beta of 0.39. The company has a current ratio of 2.75, a quick ratio of 2.69 and a debt-to-equity ratio of 31.64.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced 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 analysts’ expectations of $532.91 million. During the same period last year, the firm earned $1.15 earnings per share. The company’s revenue was down 33.3% compared to the same quarter last year. Research analysts forecast that Alnylam Pharmaceuticals, Inc. will post -2.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ALNY. Wells Fargo & Company boosted their price target on shares of Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Piper Sandler reiterated an “overweight” rating and set a $296.00 price target on shares of Alnylam Pharmaceuticals in a research note on Monday, November 18th. JPMorgan Chase & Co. upped their target price on shares of Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Scotiabank upped their target price on shares of Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. Finally, Citigroup upped their target price on shares of Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the stock a “buy” rating in a research 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $298.09.

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.