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

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target hoisted by Scotiabank from $305.00 to $310.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the biopharmaceutical company’s stock. Scotiabank’s target price suggests a potential upside of 15.63% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 target price on shares of Alnylam Pharmaceuticals in a research report on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and issued a $320.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday. Chardan Capital restated a “buy” rating and issued a $300.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday. The Goldman Sachs Group upgraded Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $198.00 to $370.00 in a research report on Friday, August 16th. Finally, Wells Fargo & Company increased their price objective on shares of Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $293.45.

Alnylam Pharmaceuticals Stock Performance

ALNY stock traded up $1.51 on Friday, reaching $268.10. The company had a trading volume of 86,805 shares, compared to its average volume of 867,425. The company has a market cap of $34.42 billion, a P/E ratio of -101.58 and a beta of 0.39. The company’s fifty day moving average is $274.80 and its 200 day moving average is $224.70. Alnylam Pharmaceuticals has a 1 year low of $141.98 and a 1 year high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share (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 analyst estimates of $447.22 million. During the same quarter last year, the business posted ($2.21) EPS. The firm’s revenue was up 107.0% compared to the same quarter last year. On average, sell-side analysts predict that Alnylam Pharmaceuticals will post -2.59 earnings per share for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, Director Dennis A. Ausiello sold 20,250 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $262.00, for a total value of $5,305,500.00. Following the completion of the sale, the director now directly owns 136 shares of the company’s stock, valued at $35,632. 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 this link. In related news, CEO Yvonne Greenstreet sold 15,000 shares of the business’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 value of $4,200,000.00. Following the completion of the sale, the chief executive officer now directly owns 73,441 shares in the company, valued at approximately $20,563,480. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dennis A. Ausiello sold 20,250 shares of the business’s stock in a transaction on 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 owns 136 shares of the company’s stock, valued at $35,632. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Souders Financial Advisors increased its position in Alnylam Pharmaceuticals by 1.0% in the 2nd quarter. Souders Financial Advisors now owns 3,512 shares of the biopharmaceutical company’s stock worth $853,000 after buying an additional 36 shares during the period. V Square Quantitative Management LLC grew its position in Alnylam Pharmaceuticals by 21.9% in the 2nd quarter. V Square Quantitative Management LLC now owns 334 shares of the biopharmaceutical company’s stock worth $81,000 after purchasing an additional 60 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Alnylam Pharmaceuticals by 54.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 259 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 91 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Alnylam Pharmaceuticals by 95.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $58,000 after acquiring an additional 103 shares during the period. Finally, Hollencrest Capital Management bought a new stake in shares of Alnylam Pharmaceuticals during the third quarter valued at approximately $29,000. 92.97% of the stock is owned by institutional investors and hedge funds.

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.