Bank of Nova Scotia Purchases Shares of 8,130 Alnylam Pharmaceuticals, Inc. $ALNY

Bank of Nova Scotia purchased a new position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,130 shares of the biopharmaceutical company’s stock, valued at approximately $2,447,000.

A number of other institutional investors have also modified their holdings of the stock. Caitong International Asset Management Co. Ltd acquired a new stake in Alnylam Pharmaceuticals during the third quarter worth about $29,000. MV Capital Management Inc. acquired a new position in Alnylam Pharmaceuticals in the fourth quarter valued at approximately $25,000. HM Payson & Co. acquired a new position in Alnylam Pharmaceuticals in the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC boosted its position in Alnylam Pharmaceuticals by 100.0% in the 4th quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 36 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its position in Alnylam Pharmaceuticals by 600.0% in the 4th quarter. Manchester Capital Management LLC now owns 84 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Insider Activity at Alnylam Pharmaceuticals

In related news, Director David E. I. Pyott sold 3,830 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the completion of the sale, the director directly owned 1,582 shares in the company, valued at approximately $473,302.76. The trade was a 70.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Citigroup decreased their target price on shares of Alnylam Pharmaceuticals from $380.00 to $340.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. BMO Capital Markets began coverage on shares of Alnylam Pharmaceuticals in a research report on Wednesday, August 19th. They issued an “outperform” rating and a $318.00 price objective for the company. Morgan Stanley dropped their target price on Alnylam Pharmaceuticals from $400.00 to $300.00 and set an “equal weight” rating on the stock in a research report on Friday, July 31st. Bank of America cut their price target on Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating for the company in a research note on Tuesday, July 14th. Finally, Wells Fargo & Company lowered their price target on Alnylam Pharmaceuticals from $316.00 to $256.00 and set an “equal weight” rating on the stock in a research report on Friday, August 14th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $386.14.

Alnylam Pharmaceuticals Trading Down 0.4%

Shares of Alnylam Pharmaceuticals stock opened at $239.00 on Thursday. The company has a current ratio of 3.05, a quick ratio of 2.99 and a debt-to-equity ratio of 0.75. Alnylam Pharmaceuticals, Inc. has a twelve month low of $197.81 and a twelve month high of $495.55. The firm has a market capitalization of $31.98 billion, a PE ratio of 44.42 and a beta of 0.30. The firm’s 50-day moving average price is $264.27 and its 200 day moving average price is $294.77.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.21. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Alnylam Pharmaceuticals had a return on equity of 84.93% and a net margin of 15.26%.The business’s revenue was up 66.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.51) earnings per share. On average, sell-side analysts predict that Alnylam Pharmaceuticals, Inc. will post 6.59 EPS for the current fiscal year.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc (NASDAQ: ALNY) is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.