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

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price dropped by equities research analysts at Scotiabank from $310.00 to $300.00 in a report issued on Friday,Benzinga reports. The firm currently has a “sector outperform” rating on the biopharmaceutical company’s stock. Scotiabank’s price objective indicates a potential upside of 16.98% from the stock’s current price.

ALNY has been the subject of several other reports. Wolfe Research cut shares of Alnylam Pharmaceuticals from a “peer perform” rating to an “underperform” rating in a research note on Tuesday, November 12th. Canaccord Genuity Group upped their price objective on shares of Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. StockNews.com cut shares of Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Sanford C. Bernstein reduced their price objective 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, Alnylam Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $299.43.

Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ ALNY opened at $256.45 on Friday. The company has a current ratio of 2.75, a quick ratio of 2.69 and a debt-to-equity ratio of 31.64. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $304.39. The company has a 50 day simple moving average of $254.03 and a two-hundred day simple moving average of $263.35. The stock has a market cap of $33.08 billion, a price-to-earnings ratio of -97.88 and a beta of 0.35.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results 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, analysts predict that Alnylam Pharmaceuticals will post -2.24 earnings per share for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, Director Phillip A. Sharp sold 11,250 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $275.00, for a total transaction of $3,093,750.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Pushkal Garg sold 52,592 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $285.00, for a total transaction of $14,988,720.00. Following the sale, the chief marketing officer now directly owns 11,989 shares in the company, valued at $3,416,865. This represents a 81.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,964 shares of company stock valued at $20,622,925 over the last 90 days. 1.50% of the stock is owned by insiders.

Institutional Trading of Alnylam Pharmaceuticals

Several hedge funds have recently made changes to their positions in ALNY. Regeneron Pharmaceuticals Inc. acquired a new stake in Alnylam Pharmaceuticals in the fourth quarter valued at approximately $1,045,822,000. Norges Bank acquired a new stake in Alnylam Pharmaceuticals in the fourth quarter valued at approximately $577,941,000. Capital Research Global Investors raised its holdings in Alnylam Pharmaceuticals by 32.9% in the fourth quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company’s stock valued at $1,639,767,000 after acquiring an additional 1,724,610 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Alnylam Pharmaceuticals by 39.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company’s stock valued at $1,031,705,000 after acquiring an additional 1,245,195 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in Alnylam Pharmaceuticals by 496.6% in the fourth quarter. Marshall Wace LLP now owns 378,649 shares of the biopharmaceutical company’s stock valued at $89,100,000 after acquiring an additional 315,182 shares in the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

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.