Scotiabank Begins Coverage on Alnylam Pharmaceuticals (NASDAQ:ALNY)

Scotiabank started coverage on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research note issued to investors on Wednesday morning, MarketBeat reports. The brokerage issued a sector outperform rating and a $305.00 price objective on the biopharmaceutical company’s stock.

Several other equities analysts have also issued reports on ALNY. HC Wainwright reiterated a “buy” rating and issued a $400.00 target price on shares of Alnylam Pharmaceuticals in a research note on Friday, August 30th. Leerink Partners boosted their price objective on shares of Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the stock a “market perform” rating in a research note on Tuesday, June 25th. JPMorgan Chase & Co. increased their target price on shares of Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. UBS Group lifted their price target on shares of Alnylam Pharmaceuticals from $253.00 to $288.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $220.00 price objective on shares of Alnylam Pharmaceuticals in a report on Friday, October 11th. Six investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Alnylam Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $286.82.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY opened at $295.93 on Wednesday. The company has a 50 day moving average price of $271.29 and a 200-day moving average price of $215.60. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $304.39. The stock has a market capitalization of $37.43 billion, a PE ratio of -110.42 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.61. The company had revenue of $659.83 million for the quarter, compared to analysts’ expectations of $447.22 million. During the same quarter in the prior year, the company earned ($2.21) EPS. The firm’s quarterly revenue was up 107.0% on a year-over-year basis. Equities research analysts forecast that Alnylam Pharmaceuticals will post -2.73 EPS for the current year.

Insiders Place Their Bets

In other news, Director Dennis A. Ausiello sold 20,250 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total value of $5,305,500.00. Following the sale, the director now owns 136 shares in the company, valued at $35,632. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,000 shares of Alnylam Pharmaceuticals stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total value of $4,200,000.00. Following the completion of the transaction, the chief executive officer now owns 73,441 shares of the company’s stock, valued at approximately $20,563,480. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dennis A. Ausiello sold 20,250 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total transaction of $5,305,500.00. Following the sale, the director now directly owns 136 shares in the company, valued at approximately $35,632. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,398 shares of company stock valued at $13,595,460. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. Friedenthal Financial purchased a new position in Alnylam Pharmaceuticals during the third quarter worth approximately $51,000. Blue Trust Inc. lifted its position in shares of Alnylam Pharmaceuticals by 431.0% during the 3rd quarter. Blue Trust Inc. now owns 462 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 375 shares in the last quarter. Bleakley Financial Group LLC grew its stake in Alnylam Pharmaceuticals by 24.7% in the 3rd quarter. Bleakley Financial Group LLC now owns 2,215 shares of the biopharmaceutical company’s stock valued at $609,000 after acquiring an additional 439 shares during the period. Swedbank AB increased its holdings in Alnylam Pharmaceuticals by 160.3% in the 3rd quarter. Swedbank AB now owns 53,729 shares of the biopharmaceutical company’s stock worth $14,777,000 after acquiring an additional 33,090 shares in the last quarter. Finally, Creative Planning raised its position in Alnylam Pharmaceuticals by 24.6% during the third quarter. Creative Planning now owns 10,012 shares of the biopharmaceutical company’s stock worth $2,754,000 after acquiring an additional 1,978 shares during the period. Hedge funds and other institutional investors 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.