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

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective lifted by Scotiabank from $305.00 to $310.00 in a report released on Friday morning, Benzinga reports. They currently have a sector outperform rating on the biopharmaceutical company’s stock.

Several other research firms also recently commented on ALNY. JPMorgan Chase & Co. upped their price target 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. Morgan Stanley upped their price target on shares of Alnylam Pharmaceuticals from $250.00 to $255.00 and gave the company an “equal weight” rating in a research report on Friday, July 12th. Barclays upped their price target on shares of Alnylam Pharmaceuticals from $291.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Chardan Capital reiterated a “buy” rating and issued a $300.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday. Finally, Raymond James boosted their price objective on shares of Alnylam Pharmaceuticals from $242.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $294.50.

Alnylam Pharmaceuticals Trading Down 1.4 %

Shares of NASDAQ:ALNY opened at $269.95 on Friday. The company has a market capitalization of $34.66 billion, a PE ratio of -103.03 and a beta of 0.39. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $304.39. 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 issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.36). The firm had revenue of $500.90 million for the quarter, compared to analyst estimates of $532.91 million. During the same period in the previous year, the company earned $1.15 EPS. The company’s revenue was down 33.3% on a year-over-year basis. As a group, equities research analysts predict that Alnylam Pharmaceuticals will post -2.74 EPS for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In related news, CEO Yvonne Greenstreet sold 15,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 73,441 shares of the company’s stock, valued at approximately $20,563,480. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Alnylam Pharmaceuticals by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 11,994,261 shares of the biopharmaceutical company’s stock valued at $1,792,542,000 after purchasing an additional 50,366 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Alnylam Pharmaceuticals by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock valued at $550,837,000 after purchasing an additional 201,784 shares in the last quarter. Capital International Investors lifted its holdings in Alnylam Pharmaceuticals by 1.8% in the 1st quarter. Capital International Investors now owns 3,651,217 shares of the biopharmaceutical company’s stock valued at $545,674,000 after purchasing an additional 64,560 shares in the last quarter. Capital Research Global Investors lifted its holdings in Alnylam Pharmaceuticals by 7.3% in the 1st quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock valued at $470,018,000 after purchasing an additional 214,908 shares in the last quarter. Finally, Bellevue Group AG lifted its holdings in Alnylam Pharmaceuticals by 3.7% in the 1st quarter. Bellevue Group AG now owns 918,284 shares of the biopharmaceutical company’s stock valued at $137,238,000 after purchasing an additional 32,966 shares in the last quarter. 92.97% of the stock is currently owned by hedge funds and other 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.