Scotiabank Begins Coverage on Alnylam Pharmaceuticals (NASDAQ:ALNY)

Scotiabank started coverage on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research report issued to clients and investors on Wednesday, Briefing.com reports. The firm set a “sector outperform” rating on the biopharmaceutical company’s stock.

A number of other research firms have also weighed in on ALNY. Chardan Capital reaffirmed a “buy” rating and set a $300.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, October 11th. Cantor Fitzgerald reissued a “neutral” rating and issued a $220.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, October 11th. Leerink Partners increased their price target on shares of Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the stock a “market perform” rating in a report on Tuesday, June 25th. UBS Group increased their price target on shares of Alnylam Pharmaceuticals from $253.00 to $288.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, JPMorgan Chase & Co. increased their price target on shares of Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Six research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $285.95.

Alnylam Pharmaceuticals Trading Up 1.4 %

Alnylam Pharmaceuticals stock opened at $287.36 on Wednesday. The firm’s 50 day simple moving average is $269.96 and its 200 day simple moving average is $214.43. The firm has a market capitalization of $36.35 billion, a PE ratio of -107.22 and a beta of 0.39. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $289.67.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share 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 the consensus estimate of $447.22 million. The business’s revenue was up 107.0% on a year-over-year basis. During the same period last year, the company posted ($2.21) EPS. Research analysts forecast that Alnylam Pharmaceuticals will post -2.73 earnings per share for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, Director Dennis A. Ausiello sold 20,250 shares of the stock in a transaction on Tuesday, August 6th. The shares were 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Dennis A. Ausiello sold 20,250 shares of the stock in a transaction dated 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 transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Yvonne Greenstreet sold 15,000 shares of the stock in a transaction dated 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,398 shares of company stock valued at $13,595,460 in the last quarter. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC purchased a new stake in Alnylam Pharmaceuticals in the second quarter worth about $26,000. Allspring Global Investments Holdings LLC grew its holdings in Alnylam Pharmaceuticals by 572.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 143 shares during the period. Altitude Crest Partners Inc. purchased a new stake in Alnylam Pharmaceuticals in the first quarter worth about $30,000. V Square Quantitative Management LLC purchased a new stake in Alnylam Pharmaceuticals in the fourth quarter worth about $52,000. Finally, Meeder Asset Management Inc. grew its holdings in Alnylam Pharmaceuticals by 1,237.5% in the second quarter. Meeder Asset Management Inc. now owns 321 shares of the biopharmaceutical company’s stock worth $78,000 after purchasing an additional 297 shares during the period. 92.97% of the stock is 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.