Scotiabank Forecasts Strong Price Appreciation for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective lifted by equities researchers at Scotiabank from $300.00 to $338.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the biopharmaceutical company’s stock. Scotiabank’s target price indicates a potential upside of 21.53% from the company’s previous close.

Several other brokerages have also recently issued reports on ALNY. Chardan Capital restated a “buy” rating and set a $300.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $310.00 target price on shares of Alnylam Pharmaceuticals in a research note on Wednesday, February 26th. HC Wainwright raised their price objective 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 boosted their price target on shares of Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the company a “buy” rating in a report on Friday. Finally, William Blair reaffirmed an “outperform” rating on shares of Alnylam Pharmaceuticals in a research report on Wednesday, February 26th. 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $308.74.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY stock traded up $24.58 on Friday, hitting $278.13. 446,893 shares of the stock traded hands, compared to its average volume of 792,401. 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 $256.25 and a two-hundred day simple moving average of $259.51. The firm has a market cap of $36.01 billion, a price-to-earnings ratio of -127.86 and a beta of 0.39. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $304.39.

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

Insiders Place Their Bets

In other news, CMO Pushkal Garg sold 52,592 shares of the company’s stock in a transaction that occurred 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 represents a 81.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin Joseph Fitzgerald sold 1,440 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $251.56, for a total value of $362,246.40. Following the transaction, the executive vice president now owns 12,881 shares in the company, valued at $3,240,344.36. This trade represents a 10.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,234 shares of company stock valued at $19,958,097 over the last ninety days. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. OneDigital Investment Advisors LLC acquired a new stake in Alnylam Pharmaceuticals during the 3rd quarter worth approximately $281,000. Natixis Advisors LLC purchased a new stake in shares of Alnylam Pharmaceuticals during the third quarter worth $2,751,000. Mutual of America Capital Management LLC raised its stake in shares of Alnylam Pharmaceuticals by 26.7% in the third quarter. Mutual of America Capital Management LLC now owns 1,924 shares of the biopharmaceutical company’s stock valued at $529,000 after acquiring an additional 405 shares in the last quarter. Pathstone Holdings LLC boosted its holdings in Alnylam Pharmaceuticals by 11.2% in the third quarter. Pathstone Holdings LLC now owns 6,249 shares of the biopharmaceutical company’s stock valued at $1,719,000 after purchasing an additional 629 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Alnylam Pharmaceuticals during the 3rd quarter worth about $902,000. 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.