Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $338.00 Price Target at Scotiabank

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price objective lifted by analysts at Scotiabank from $300.00 to $338.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the biopharmaceutical company's stock. Scotiabank's target price suggests a potential upside of 20.30% from the company's current price.

Several other research analysts also recently issued reports on ALNY. StockNews.com downgraded Alnylam Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Friday. Chardan Capital restated a "buy" rating and set a $300.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday. Bank of America increased their price target on shares of Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the company a "buy" rating in a research report on Friday. William Blair restated an "outperform" rating on shares of Alnylam Pharmaceuticals in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company increased their target price on Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the company an "equal weight" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $312.30.

Remove Ads

Alnylam Pharmaceuticals Price Performance

Alnylam Pharmaceuticals stock traded down $9.74 during mid-day trading on Friday, reaching $280.96. The company had a trading volume of 1,065,379 shares, compared to its average volume of 806,039. The stock's 50-day simple moving average is $258.62 and its 200-day simple moving average is $260.26. The company has a market capitalization of $36.37 billion, a P/E ratio of -129.47 and a beta of 0.39. The company has a debt-to-equity ratio of 15.27, a current ratio of 2.78 and a quick ratio of 2.71. Alnylam Pharmaceuticals has a 1 year low of $141.98 and a 1 year high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released 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). On average, equities analysts predict that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, CMO Pushkal Garg sold 52,592 shares of the business's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $285.00, for a total transaction of $14,988,720.00. Following the completion of the sale, the chief marketing officer now owns 11,989 shares in the company, valued at approximately $3,416,865. The trade was a 81.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kevin Joseph Fitzgerald sold 1,440 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $251.56, for a total transaction of $362,246.40. Following the completion of the transaction, the executive vice president now owns 12,881 shares in the company, valued at $3,240,344.36. The trade was a 10.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,234 shares of company stock worth $19,958,097 in the last ninety days. Insiders own 1.50% of the company's stock.

Institutional Trading of Alnylam Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its position in Alnylam Pharmaceuticals by 2.6% in the fourth quarter. California State Teachers Retirement System now owns 196,362 shares of the biopharmaceutical company's stock valued at $46,206,000 after purchasing an additional 5,037 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Alnylam Pharmaceuticals by 94.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,566 shares of the biopharmaceutical company's stock valued at $2,957,000 after buying an additional 6,112 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter valued at about $10,011,000. Bannerman Wealth Management Group LLC acquired a new position in Alnylam Pharmaceuticals during the 4th quarter worth approximately $327,000. Finally, Siemens Fonds Invest GmbH boosted its holdings in Alnylam Pharmaceuticals by 137.7% in the 4th quarter. Siemens Fonds Invest GmbH now owns 3,245 shares of the biopharmaceutical company's stock worth $764,000 after acquiring an additional 1,880 shares during the period. 92.97% of the stock is owned by hedge funds and other institutional investors.

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.