Wealth Enhancement Slashes Alnylam Pharmaceuticals, Inc. (ALNY) Stake by 64.5%

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is among the most promising biotech stocks to buy according to hedge funds. During the second quarter, Wealth Enhancement Advisory Services LLC trimmed its position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 64.5% through the offloading of 9,286 shares. According to the latest filing with the SEC, the institutional investor now owns 5,118 shares of the company’s stock, worth $1,699,000.

It’s truly exciting to see the company’s robust clinical productivity and commercial execution continuing to differentiate it from the others. With such a performance, Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is well-positioned to achieve over $1 billion in quarterly revenue by the year-end and more than $1 billion in adjusted earnings in the upcoming year.

Keeping in view the stock’s one-year performance, which has outperformed the market by nearly 50%, Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) appears to be widely followed and highly regarded. All thanks to the successful launch of Amvuttra in TTR-CM, the company is now enjoying higher revenues with strong prospects for its long-term position in the TTR space.

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is a Massachusetts-based company that engages in therapeutics based on ribonucleic acid interference. Incepted in 2002, the company is committed to building a top-class biopharmaceutical company founded on RNAi.

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Disclosure: None.