Scotiabank Forecasts Strong Price Appreciation for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price lifted by Scotiabank from $300.00 to $338.00 in a research report released on Friday morning,Benzinga reports. They currently have a sector outperform rating on the biopharmaceutical company’s stock.

Other analysts have also recently issued reports about the stock. Morgan Stanley increased their price objective on shares of Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Chardan Capital reiterated a “buy” rating and issued a $300.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday. Bank of America boosted their price objective on Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $310.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Wednesday, February 26th. Finally, StockNews.com cut Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $310.22.

Alnylam Pharmaceuticals Price Performance

Shares of Alnylam Pharmaceuticals stock opened at $283.34 on Friday. The stock has a market cap of $36.68 billion, a P/E ratio of -130.57 and a beta of 0.39. The company has a debt-to-equity ratio of 15.27, a quick ratio of 2.71 and a current ratio of 2.78. The stock’s fifty day moving average is $257.16 and its 200 day moving average is $259.74. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.03). Sell-side analysts anticipate that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insiders Place Their Bets

In related news, CMO Pushkal Garg sold 1,548 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $251.67, for a total transaction of $389,585.16. Following the completion of the sale, the chief marketing officer now directly owns 11,989 shares of the company’s stock, valued at approximately $3,017,271.63. This trade represents a 11.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 663 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $255.21, for a total value of $169,204.23. Following the completion of the transaction, the executive vice president now directly owns 14,321 shares in the company, valued at $3,654,862.41. This trade represents a 4.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,234 shares of company stock valued at $19,958,097 over the last three months. 1.50% of the stock is owned by company insiders.

Institutional Trading of Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. Larson Financial Group LLC boosted its position in Alnylam Pharmaceuticals by 187.2% in the 4th quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 73 shares during the period. Park Square Financial Group LLC bought a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter valued at approximately $28,000. R Squared Ltd bought a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter valued at approximately $33,000. OFI Invest Asset Management purchased a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter valued at approximately $35,000. Finally, Colonial Trust Co SC bought a new position in Alnylam Pharmaceuticals in the fourth quarter worth approximately $35,000. 92.97% of the stock is currently owned by institutional investors.

About Alnylam Pharmaceuticals

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.