Alnylam Pharmaceuticals (NASDAQ:ALNY) Now Covered by Analysts at Scotiabank

Scotiabank assumed coverage on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research note released on Wednesday, Marketbeat.com reports. The brokerage issued a sector outperform rating and a $305.00 price target on the biopharmaceutical company’s stock.

Other analysts have also recently issued research reports about the company. HC Wainwright restated a “buy” rating and issued a $400.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, August 30th. Barclays upped their price target on shares of Alnylam Pharmaceuticals from $291.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Leerink Partners lifted their price target on shares of Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the company a “market perform” rating in a report on Tuesday, June 25th. JPMorgan Chase & Co. upped their price objective on Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $234.00 target price on shares of Alnylam Pharmaceuticals in a research report on Monday, June 24th. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $286.82.

Alnylam Pharmaceuticals Trading Up 4.6 %

Alnylam Pharmaceuticals stock opened at $300.55 on Wednesday. The stock has a 50-day moving average price of $270.77 and a 200 day moving average price of $215.04. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $301.87. The stock has a market cap of $38.02 billion, a PE ratio of -112.15 and a beta of 0.39.

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

Insider Activity at Alnylam Pharmaceuticals

In other news, CEO Yvonne Greenstreet sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total transaction of $4,200,000.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Yvonne Greenstreet sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 completion of the sale, the director now directly owns 136 shares in the company, valued at approximately $35,632. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,398 shares of company stock valued at $13,595,460 in the last quarter. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in ALNY. Souders Financial Advisors raised its stake in Alnylam Pharmaceuticals by 1.0% during the 2nd quarter. Souders Financial Advisors now owns 3,512 shares of the biopharmaceutical company’s stock valued at $853,000 after acquiring an additional 36 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of Alnylam Pharmaceuticals by 21.9% during the second quarter. V Square Quantitative Management LLC now owns 334 shares of the biopharmaceutical company’s stock valued at $81,000 after purchasing an additional 60 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Alnylam Pharmaceuticals by 54.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 259 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 91 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Alnylam Pharmaceuticals in the 2nd quarter valued at about $26,000. Finally, Daiwa Securities Group Inc. increased its stake in Alnylam Pharmaceuticals by 1.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 10,921 shares of the biopharmaceutical company’s stock valued at $1,632,000 after buying an additional 116 shares during the period. 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.