Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $338.00 Price Target at Scotiabank

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective hoisted by Scotiabank from $300.00 to $338.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the biopharmaceutical company’s stock.

Several other equities research analysts also recently weighed in on ALNY. Needham & Company LLC reissued a “buy” rating and issued a $320.00 price objective on shares of Alnylam Pharmaceuticals in a report on Friday. Canaccord Genuity Group increased their price target on Alnylam Pharmaceuticals from $384.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Wells Fargo & Company increased their price target on Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the stock an “equal weight” rating in a report on Friday. Chardan Capital reaffirmed a “buy” rating and set a $300.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday. Finally, JPMorgan Chase & Co. increased their price target on Alnylam Pharmaceuticals from $272.00 to $280.00 and gave the stock a “neutral” rating in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.22.

Alnylam Pharmaceuticals Price Performance

ALNY stock opened at $283.34 on Friday. The company has a market capitalization of $36.68 billion, a P/E ratio of -130.57 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 business has a 50 day simple moving average of $257.16 and a 200-day simple moving average of $259.65. The company has a current ratio of 2.78, a quick ratio of 2.71 and a debt-to-equity ratio of 15.27.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.03). As a group, equities analysts anticipate that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insider Activity

In other news, CMO Pushkal Garg sold 52,592 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $285.00, for a total value of $14,988,720.00. Following the completion of the transaction, the chief marketing officer now owns 11,989 shares in the company, valued at $3,416,865. This trade represents a 81.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Phillip A. Sharp sold 11,250 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $275.00, for a total value of $3,093,750.00. The disclosure for this sale can be found here. Insiders sold a total of 71,234 shares of company stock worth $19,958,097 over the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Alnylam Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors increased its position in Alnylam Pharmaceuticals by 0.6% during the 4th quarter. Capital World Investors now owns 16,600,525 shares of the biopharmaceutical company’s stock worth $3,906,284,000 after purchasing an additional 92,101 shares in the last quarter. Vanguard Group Inc. increased its position in Alnylam Pharmaceuticals by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 12,733,399 shares of the biopharmaceutical company’s stock worth $2,996,296,000 after purchasing an additional 98,303 shares in the last quarter. Capital Research Global Investors increased its position in Alnylam Pharmaceuticals by 32.9% during the 4th quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company’s stock worth $1,639,767,000 after purchasing an additional 1,724,610 shares in the last quarter. Regeneron Pharmaceuticals Inc. purchased a new stake in Alnylam Pharmaceuticals during the 4th quarter worth about $1,045,822,000. Finally, T. Rowe Price Investment Management Inc. increased its position in Alnylam Pharmaceuticals by 39.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company’s stock worth $1,031,705,000 after purchasing an additional 1,245,195 shares in the last quarter. Hedge funds and other 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.