Scotiabank Has Lowered Expectations for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price target dropped by equities research analysts at Scotiabank from $310.00 to $300.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "sector outperform" rating on the biopharmaceutical company's stock. Scotiabank's price target would suggest a potential upside of 20.00% from the stock's current price.

A number of other equities research analysts have also issued reports on ALNY. Barclays boosted their price target on shares of Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Chardan Capital restated a "buy" rating and issued a $300.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. Piper Sandler reaffirmed an "overweight" rating and issued a $296.00 target price on shares of Alnylam Pharmaceuticals in a research report on Monday, November 18th. Canaccord Genuity Group upped their price target on Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Finally, Raymond James raised their price objective on Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $299.48.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY traded down $6.45 during trading hours on Friday, hitting $250.00. 910,256 shares of the company were exchanged, compared to its average volume of 691,656. The company has a debt-to-equity ratio of 31.64, a current ratio of 2.75 and a quick ratio of 2.69. The company has a market capitalization of $32.25 billion, a PE ratio of -95.42 and a beta of 0.35. The firm has a fifty day simple moving average of $253.96 and a 200-day simple moving average of $263.29. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.03). As a group, sell-side analysts predict that Alnylam Pharmaceuticals will post -2.24 earnings per share for the current year.

Insider Activity at Alnylam Pharmaceuticals

In related news, CMO Pushkal Garg sold 52,592 shares of the firm's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $285.00, for a total value of $14,988,720.00. Following the transaction, the chief marketing officer now directly owns 11,989 shares in the company, valued at approximately $3,416,865. This trade represents a 81.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Yvonne Greenstreet sold 5,219 shares of Alnylam Pharmaceuticals stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total transaction of $1,309,864.62. Following the completion of the transaction, the chief executive officer now owns 78,880 shares in the company, valued at $19,797,302.40. This trade represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,356 shares of company stock valued at $22,498,551. Corporate insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Huntington National Bank lifted its holdings 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 buying an additional 45 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Alnylam Pharmaceuticals by 187.2% during the 4th quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 73 shares in the last quarter. Hollencrest Capital Management bought a new stake in shares of Alnylam Pharmaceuticals during the third quarter valued at approximately $29,000. R Squared Ltd acquired a new position in shares of Alnylam Pharmaceuticals in the fourth quarter valued at $33,000. Finally, OFI Invest Asset Management bought a new position in Alnylam Pharmaceuticals in the fourth quarter worth $35,000. 92.97% of the stock is owned by institutional investors and hedge funds.

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.