Virginia Retirement Systems Increases Alnylam Pharmaceuticals Stake
Virginia Retirement Systems increased its holdings in Alnylam Pharmaceuticals, Inc. by 655.3% during the third quarter, according to a filing with the Securities and Exchange Commission, marketbeat.com reported.
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Key Clinical Takeaways:
- Alnylam reported $16.26 in adjusted earnings per share for the third quarter, surpassing the $1.66 consensus estimate.
- Quarterly revenue reached $1.46 billion, marking a 16.7% increase compared to the same period in the previous year.
- Roughly 2,250 patients are now enrolled in the nucresiran heart-disease study known as TRITON-CM, with the business keeping its eyes on a launch timeline near 2030.
Virginia Retirement Systems Boosts Stake as Institutional Ownership Reaches 92.97%
The institutional fund acquired an additional 26,080 shares during the third quarter, bringing its total ownership to 30,060 shares. The value of these holdings stood at $7,417,000 at the time of the filing. Several other institutional investors and hedge funds also adjusted their positions in the biopharmaceutical company.
Bank of Nova Scotia increased its holdings by 0.6% during the first quarter, owning 7,798 shares valued at $2,580,000 after acquiring an additional 49 shares. SBI Securities Co. Ltd. raised its stake by 27.8% in the third quarter to 225 shares valued at $56,000. Prestige Wealth Management Group LLC expanded its holdings by 30.6% in the first quarter to 226 shares worth $75,000. Fortitude Family Office LLC added 55 shares during the third quarter for a total of 578 shares valued at $143,000. Glenmede Trust Co. NA grew its stake by 8.3% in the first quarter, ending with 731 shares worth $242,000.
Executive Stock Sale Follows Tax Withholding Obligations
In other corporate disclosures, Executive Bryan Supran sold 1,758 shares of Alnylam stock on Friday, October 2nd. The shares traded at an average price of $226.88, totaling $398,855.04. The transaction was executed to cover tax withholding obligations related to the vesting of equity awards, according to an SEC filing. Following the transaction, the executive directly held 12,807 shares valued at $2,905,652.16, representing a 12.07% decrease in direct ownership. Company insiders own 0.86% of the stock.
Third-Quarter Financial Results Exceed Consensus Forecasts
Alnylam Pharmaceuticals announced its financial results on Thursday, October 29th, reporting $16.26 in earnings per share for the quarter, compared to the $1.66 consensus estimate. Revenue for the period reached $1.46 billion, up 16.7% compared to the same quarter last year, when the firm posted $2.90 EPS. The company recorded a net margin of 52.85% and a return on equity of 246.94%. Current ratios stand at a current ratio of 3.05 and a quick ratio of 2.99, alongside a debt-to-equity ratio of 0.75.
The biopharmaceutical firm maintains its fiscal 2026 product-sales outlook, expecting between $4.2 billion and $4.5 billion in TTR sales. Alnylam develops RNA interference therapeutics designed to silence specific genes underlying genetic conditions, with marketed products including Onpattro and Amvuttra for hereditary transthyretin-mediated amyloidosis, Givlaari for acute hepatic porphyria, and Oxlumo for primary hyperoxaluria type 1.
Wall Street Firms Revise Price Targets and Ratings
Wall Street research firms responded to the quarterly reports with varied rating adjustments and revised price targets. Barclays reduced its price target from $527.00 to $450.00 while maintaining an overweight rating on August 3rd. Royal Bank of Canada lowered its price objective from $345.00 to $280.00 with an outperform rating. BMO Capital Markets reissued an outperform rating with a $290.00 target price, while HC Wainwright reaffirmed a buy rating and Weiss Ratings retained a hold (c) rating. Bernstein and Stifel downgraded the stock to market perform and hold, respectively, with Bernstein lowering its price target from $376 to $199 and Goldman Sachs reducing its target from $536 to $320.
MarketBeat data indicates that Alnylam carries a consensus moderate buy rating and an average price target of $317.95, based on evaluations from one strong buy rating, sixteen buy ratings, and nine hold ratings. Shares of NASDAQ:ALNY opened at $165.00 on Friday, with a 50-day moving average of $236.49, a 200-day moving average of $286.19, and a 12 month trading range between $163.30 and $479.79. A price-to-earnings ratio of 8.57, a beta of 0.28, and a market capitalization of $22.08 billion are currently maintained by the enterprise.
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