Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $342.00 Price Target at Scotiabank

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price upped by research analysts at Scotiabank from $338.00 to $342.00 in a report issued on Monday,Benzinga reports. The firm presently has a “sector outperform” rating on the biopharmaceutical company’s stock. Scotiabank’s target price would indicate a potential upside of 33.72% from the company’s previous close.

ALNY has been the subject of a number of other research reports. Wells Fargo & Company boosted their price target on Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the stock an “equal weight” rating in a research report on Friday, March 21st. Citigroup raised their target price on Alnylam Pharmaceuticals from $338.00 to $351.00 and gave the company a “buy” rating in a research note on Friday, March 21st. Sanford C. Bernstein dropped their price target on shares of Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Stifel Nicolaus upped their price target on Alnylam Pharmaceuticals from $300.00 to $345.00 and gave the company a “buy” rating in a report on Monday. Finally, Bank of America increased their price target on Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $316.25.

Alnylam Pharmaceuticals Stock Down 5.3 %

Shares of Alnylam Pharmaceuticals stock opened at $255.76 on Monday. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $304.39. 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 business’s 50 day simple moving average is $260.15 and its 200-day simple moving average is $260.51. The stock has a market capitalization of $33.27 billion, a price-to-earnings ratio of -117.86 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.03). Equities research analysts forecast that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Activity

In related news, EVP Kevin Joseph Fitzgerald sold 663 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $255.21, for a total value of $169,204.23. Following the completion of the sale, the executive vice president now directly owns 14,321 shares in the company, valued at approximately $3,654,862.41. The trade was a 4.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jeffrey V. Poulton sold 967 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $255.17, for a total transaction of $246,749.39. Following the completion of the sale, the chief financial officer now owns 32,786 shares of the company’s stock, valued at $8,366,003.62. The trade was a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,234 shares of company stock worth $19,958,097 in the last three months. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System grew its holdings in Alnylam Pharmaceuticals by 2.6% in the 4th quarter. California State Teachers Retirement System now owns 196,362 shares of the biopharmaceutical company’s stock valued at $46,206,000 after buying an additional 5,037 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Alnylam Pharmaceuticals by 94.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,566 shares of the biopharmaceutical company’s stock valued at $2,957,000 after purchasing an additional 6,112 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Alnylam Pharmaceuticals in the 4th quarter worth $10,011,000. Bannerman Wealth Management Group LLC bought a new position in Alnylam Pharmaceuticals during the fourth quarter valued at about $327,000. Finally, Siemens Fonds Invest GmbH increased its stake in Alnylam Pharmaceuticals by 137.7% during the fourth quarter. Siemens Fonds Invest GmbH now owns 3,245 shares of the biopharmaceutical company’s stock valued at $764,000 after acquiring an additional 1,880 shares during the period. 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.