Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $300.00 Price Target at Scotiabank

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price lowered by investment analysts at Scotiabank from $310.00 to $300.00 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 would suggest a potential upside of 17.39% from the company’s current price.

Several other equities research analysts have also recently issued reports on the company. William Blair reiterated an “outperform” rating on shares of Alnylam Pharmaceuticals in a research note on Tuesday, November 19th. Sanford C. Bernstein cut their target price on Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Chardan Capital restated a “buy” rating and issued a $300.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. Wolfe Research cut shares of Alnylam Pharmaceuticals from a “peer perform” rating to an “underperform” rating in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $299.43.

Alnylam Pharmaceuticals Stock Performance

ALNY traded down $9.33 during trading on Friday, hitting $255.56. The stock had a trading volume of 322,077 shares, compared to its average volume of 667,884. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $304.39. 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 firm has a market cap of $32.96 billion, a price-to-earnings ratio of -97.51 and a beta of 0.35. The company has a 50 day moving average price of $254.03 and a 200-day moving average price of $263.00.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). As a group, research analysts predict that Alnylam Pharmaceuticals will post -2.24 EPS for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CMO Pushkal Garg sold 1,682 shares of Alnylam Pharmaceuticals stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total value of $422,148.36. Following the completion of the sale, the chief marketing officer now directly owns 17,457 shares of the company’s stock, valued at approximately $4,381,357.86. The trade was a 8.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Tolga Tanguler sold 1,469 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total transaction of $368,689.62. Following the transaction, the executive vice president now directly owns 13,191 shares in the company, valued at $3,310,677.18. This trade represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,964 shares of company stock valued at $20,622,925. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Huntington National Bank increased its stake in Alnylam Pharmaceuticals by 91.8% during the 3rd quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 45 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Alnylam Pharmaceuticals by 187.2% during the fourth 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 last quarter. Hollencrest Capital Management bought a new stake in shares of Alnylam Pharmaceuticals during the third quarter worth about $29,000. R Squared Ltd bought a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter worth about $33,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter worth about $35,000. 92.97% of the stock is owned by institutional investors and hedge funds.

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.