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

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective raised by research analysts at Scotiabank from $338.00 to $342.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the biopharmaceutical company’s stock. Scotiabank’s target price points to a potential upside of 29.09% from the stock’s previous close.

A number of other research analysts also recently issued reports on ALNY. Redburn Atlantic started coverage on shares of Alnylam Pharmaceuticals in a research report on Monday. They issued a “buy” rating and a $353.00 price target on the stock. HC Wainwright raised their price target on Alnylam Pharmaceuticals from $400.00 to $500.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Bank of America increased their target price on Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Citigroup boosted their price target on shares of Alnylam Pharmaceuticals from $338.00 to $351.00 and gave the company a “buy” rating in a report on Friday, March 21st. Finally, Morgan Stanley boosted their target price on shares of Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $316.25.

Alnylam Pharmaceuticals Stock Down 1.3 %

Shares of ALNY stock traded down $3.53 on Monday, hitting $264.93. The stock had a trading volume of 306,755 shares, compared to its average volume of 828,383. Alnylam Pharmaceuticals has a 52-week low of $141.98 and a 52-week high of $304.39. 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 firm has a market capitalization of $34.46 billion, a price-to-earnings ratio of -122.14 and a beta of 0.39. The stock’s 50 day moving average is $259.86 and its 200-day moving average is $260.52.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released 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, research analysts expect that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In related news, EVP Kevin Joseph Fitzgerald sold 1,440 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $251.56, for a total transaction of $362,246.40. Following the sale, the executive vice president now owns 12,881 shares of the company’s stock, valued at approximately $3,240,344.36. This trade represents a 10.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Phillip A. Sharp sold 11,250 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $275.00, for a total value of $3,093,750.00. The disclosure for this sale can be found here. Insiders have sold 71,234 shares of company stock valued at $19,958,097 in the last three months. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of Alnylam Pharmaceuticals

Several hedge funds have recently bought and sold shares of ALNY. Allworth Financial LP increased its position in shares of Alnylam Pharmaceuticals by 6.8% during the fourth quarter. Allworth Financial LP now owns 597 shares of the biopharmaceutical company’s stock worth $140,000 after acquiring an additional 38 shares in the last quarter. Investment Management Corp of Ontario raised its position in Alnylam Pharmaceuticals by 0.6% in the 4th quarter. Investment Management Corp of Ontario now owns 7,099 shares of the biopharmaceutical company’s stock valued at $1,670,000 after buying an additional 40 shares during the last quarter. Nixon Peabody Trust Co. lifted its position in shares of Alnylam Pharmaceuticals by 1.9% in the fourth quarter. Nixon Peabody Trust Co. now owns 2,293 shares of the biopharmaceutical company’s stock worth $540,000 after purchasing an additional 43 shares in the last quarter. Brevan Howard Capital Management LP boosted its holdings in shares of Alnylam Pharmaceuticals by 3.4% in the 4th quarter. Brevan Howard Capital Management LP now owns 1,333 shares of the biopharmaceutical company’s stock valued at $314,000 after buying an additional 44 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Alnylam Pharmaceuticals by 24.2% during the fourth quarter. IFP Advisors Inc now owns 241 shares of the biopharmaceutical company’s stock worth $57,000 after acquiring an additional 47 shares in the last quarter. 92.97% of the stock is currently 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.