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

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target lifted by Scotiabank from $305.00 to $310.00 in a research note published on Friday, Benzinga reports. Scotiabank currently has a sector outperform rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued reports about the stock. Citigroup lifted their price objective on shares of Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Barclays lifted their price target on Alnylam Pharmaceuticals from $291.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Chardan Capital reissued a “buy” rating and issued a $300.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday. JPMorgan Chase & Co. lifted their price target on Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $220.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, October 11th. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $294.50.

Alnylam Pharmaceuticals Trading Down 1.4 %

ALNY stock opened at $269.95 on Friday. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $304.39. The company has a market capitalization of $34.66 billion, a P/E ratio of -103.03 and a beta of 0.39. The firm has a 50 day simple moving average of $274.61 and a 200-day simple moving average of $227.00.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.36). The company had revenue of $500.90 million during the quarter, compared to analysts’ expectations of $532.91 million. During the same quarter in the previous year, the business earned $1.15 EPS. Alnylam Pharmaceuticals’s revenue was down 33.3% compared to the same quarter last year. On average, research analysts predict that Alnylam Pharmaceuticals will post -2.74 EPS for the current year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,000 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total value of $4,200,000.00. Following the transaction, the chief executive officer now directly owns 73,441 shares of the company’s stock, valued at $20,563,480. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in Alnylam Pharmaceuticals by 572.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 143 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in Alnylam Pharmaceuticals in the second quarter worth $26,000. Hollencrest Capital Management acquired a new position in shares of Alnylam Pharmaceuticals during the third quarter valued at $29,000. Altitude Crest Partners Inc. acquired a new position in shares of Alnylam Pharmaceuticals during the first quarter valued at $30,000. Finally, Washington Trust Advisors Inc. acquired a new position in shares of Alnylam Pharmaceuticals during the third quarter valued at $42,000. 92.97% of the stock is currently owned by 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.