Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Lowered to $300.00 at Scotiabank

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective reduced by Scotiabank from $310.00 to $300.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a sector outperform rating on the biopharmaceutical company’s stock.

A number of other analysts also recently issued reports on ALNY. StockNews.com downgraded shares of Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Piper Sandler reissued an “overweight” rating and issued a $296.00 price objective on shares of Alnylam Pharmaceuticals in a report on Monday, November 18th. Wolfe Research downgraded shares of Alnylam Pharmaceuticals from a “peer perform” rating to an “underperform” rating in a report on Tuesday, November 12th. William Blair reissued an “outperform” rating on shares of Alnylam Pharmaceuticals in a report on Tuesday, November 19th. Finally, Sanford C. Bernstein dropped their target price on shares of Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. One 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $299.43.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY stock opened at $256.45 on Friday. The company has a market capitalization of $33.08 billion, a price-to-earnings ratio of -97.88 and a beta of 0.35. The company has a debt-to-equity ratio of 31.64, a quick ratio of 2.69 and a current ratio of 2.75. The company has a 50-day simple moving average of $254.03 and a 200 day simple moving average of $263.14. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). On average, sell-side analysts predict that Alnylam Pharmaceuticals will post -2.24 earnings per share for the current year.

Insider Activity at Alnylam Pharmaceuticals

In other news, CEO Yvonne Greenstreet sold 5,219 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total transaction of $1,309,864.62. Following the completion of the transaction, the chief executive officer now owns 78,880 shares of the company’s stock, valued at approximately $19,797,302.40. This trade represents a 6.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Pushkal Garg sold 52,592 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $285.00, for a total transaction of $14,988,720.00. Following the transaction, the chief marketing officer now directly owns 11,989 shares of the company’s stock, valued at $3,416,865. The trade was a 81.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,964 shares of company stock worth $20,622,925 in the last quarter. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Large investors have recently modified their holdings of the business. Huntington National Bank raised its stake in shares of Alnylam Pharmaceuticals by 91.8% during the third quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 45 shares during the last quarter. Larson Financial Group LLC raised its stake in Alnylam Pharmaceuticals by 187.2% during the fourth quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 73 shares during the last quarter. Hollencrest Capital Management bought a new position in Alnylam Pharmaceuticals during the third quarter worth $29,000. R Squared Ltd bought a new position in Alnylam Pharmaceuticals during the fourth quarter worth $33,000. Finally, OFI Invest Asset Management bought a new position in Alnylam Pharmaceuticals during the fourth quarter worth $35,000. 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.