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

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price decreased by Scotiabank from $310.00 to $300.00 in a report released on Friday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the biopharmaceutical company’s stock.

A number of other brokerages have also recently weighed in on ALNY. Barclays lifted their price target on shares of Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Chardan Capital reissued a “buy” rating and set a $300.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. TD Cowen lifted their price target on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Sanford C. Bernstein reduced 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. Finally, Needham & Company LLC reissued a “buy” rating and set a $320.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $299.43.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY stock opened at $256.45 on Friday. Alnylam Pharmaceuticals has a 52-week low of $141.98 and a 52-week high of $304.39. The stock has a market cap of $33.08 billion, a PE 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 firm’s 50 day moving average price is $254.03 and its two-hundred day moving average price is $263.14.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced 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). As a group, analysts forecast that Alnylam Pharmaceuticals will post -2.24 EPS for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, CMO Pushkal Garg sold 1,682 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total transaction of $422,148.36. Following the transaction, the chief marketing officer now directly owns 17,457 shares in the company, valued at $4,381,357.86. The trade was a 8.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Phillip A. Sharp sold 11,250 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $275.00, for a total transaction of $3,093,750.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,964 shares of company stock worth $20,622,925. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Huntington National Bank increased its stake in shares of Alnylam Pharmaceuticals by 91.8% during the 3rd quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 45 shares during the last quarter. Hollencrest Capital Management acquired a new position in shares of Alnylam Pharmaceuticals during the 3rd quarter worth about $29,000. Larson Financial Group LLC increased its stake in shares of Alnylam Pharmaceuticals by 187.2% during the 4th quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 73 shares during the last quarter. R Squared Ltd bought a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter worth about $33,000. Finally, Washington Trust Advisors Inc. bought a new stake in shares of Alnylam Pharmaceuticals during the 3rd quarter worth about $42,000. 92.97% of the stock is currently owned by institutional investors and hedge funds.

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.