Scotiabank Issues Positive Forecast for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price target lifted by investment analysts at Scotiabank from $338.00 to $342.00 in a report issued on Monday,Benzinga reports. The firm presently has a "sector outperform" rating on the biopharmaceutical company's stock. Scotiabank's price target points to a potential upside of 45.08% from the company's current price.

Several other equities analysts have also recently issued reports on ALNY. Wells Fargo & Company lifted their price objective on shares of Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. Stifel Nicolaus raised their price objective on Alnylam Pharmaceuticals from $300.00 to $345.00 and gave the stock a "buy" rating in a research note on Monday. Needham & Company LLC reaffirmed a "buy" rating and set a $320.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, March 21st. HC Wainwright lifted their price objective on shares of Alnylam Pharmaceuticals from $400.00 to $500.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Finally, Canaccord Genuity Group increased their price objective on Alnylam Pharmaceuticals from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $316.25.

Remove Ads

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY stock traded down $26.42 during trading hours on Monday, reaching $235.74. The stock had a trading volume of 1,880,146 shares, compared to its average volume of 841,461. The company has a debt-to-equity ratio of 15.27, a current ratio of 2.78 and a quick ratio of 2.71. The firm has a 50-day simple moving average of $259.89 and a 200-day simple moving average of $260.57. The firm has a market capitalization of $30.67 billion, a PE ratio of -108.64 and a beta of 0.30. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.03). As a group, equities analysts forecast that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Yvonne Greenstreet sold 1,213 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $255.17, for a total transaction of $309,521.21. Following the completion of the sale, the chief executive officer now owns 81,526 shares of the company's stock, valued at $20,802,989.42. This represents a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Pushkal Garg sold 1,548 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were 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 in the company, valued at $3,017,271.63. This represents a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,234 shares of company stock worth $19,958,097. Company insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Regeneron Pharmaceuticals Inc. bought a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter worth approximately $1,045,822,000. Norges Bank bought a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter worth about $577,941,000. Capital Research Global Investors grew its stake in Alnylam Pharmaceuticals by 32.9% in the 4th quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company's stock valued at $1,639,767,000 after buying an additional 1,724,610 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Alnylam Pharmaceuticals by 39.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company's stock worth $1,031,705,000 after acquiring an additional 1,245,195 shares during the period. Finally, Marshall Wace LLP grew its position in shares of Alnylam Pharmaceuticals by 496.6% in the fourth quarter. Marshall Wace LLP now owns 378,649 shares of the biopharmaceutical company's stock valued at $89,100,000 after purchasing an additional 315,182 shares during the last quarter. Institutional investors and hedge funds own 92.97% of the company's stock.

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.