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

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective lifted by 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 indicates a potential upside of 21.53% from the stock’s previous close.

ALNY has been the subject of several other reports. HC Wainwright increased their price objective on Alnylam Pharmaceuticals from $400.00 to $500.00 and gave the company a “buy” rating in a report on Monday, February 24th. JPMorgan Chase & Co. boosted their price objective on Alnylam Pharmaceuticals from $272.00 to $280.00 and gave the company a “neutral” rating in a research note on Tuesday, March 11th. Bank of America upped their price objective on shares of Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the company a “buy” rating in a report on Friday. Chardan Capital reiterated a “buy” rating and issued a $300.00 target price on shares of Alnylam Pharmaceuticals in a research note on Friday. Finally, Canaccord Genuity Group upped their price target on shares of Alnylam Pharmaceuticals from $384.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $308.74.

Alnylam Pharmaceuticals Stock Up 9.7 %

Shares of ALNY traded up $24.58 during trading hours on Friday, reaching $278.13. The stock had a trading volume of 446,893 shares, compared to its average volume of 792,401. The company has a current ratio of 2.78, a quick ratio of 2.71 and a debt-to-equity ratio of 15.27. The firm has a 50-day simple moving average of $256.25 and a 200 day simple moving average of $259.51. The company has a market capitalization of $36.01 billion, a price-to-earnings ratio of -127.86 and a beta of 0.39. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results 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). Equities research analysts predict that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, CMO Pushkal Garg sold 1,548 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $251.67, for a total value of $389,585.16. Following the sale, the chief marketing officer now directly owns 11,989 shares of the company’s stock, valued at approximately $3,017,271.63. This represents a 11.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Phillip A. Sharp sold 11,250 shares of Alnylam Pharmaceuticals stock in a transaction dated Thursday, January 23rd. The stock was 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 quarter. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALNY. Larson Financial Group LLC boosted its position 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. Park Square Financial Group LLC bought a new stake in Alnylam Pharmaceuticals in the 4th quarter worth approximately $28,000. R Squared Ltd purchased a new stake in Alnylam Pharmaceuticals during the 4th quarter valued at $33,000. Colonial Trust Co SC bought a new position in shares of Alnylam Pharmaceuticals during the 4th quarter valued at $35,000. Finally, True Wealth Design LLC boosted its stake in shares of Alnylam Pharmaceuticals by 15,300.0% in the 3rd quarter. True Wealth Design LLC now owns 154 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 153 shares during the last quarter. Institutional investors 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.