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

Bank of Nova Scotia bought a new position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 8,130 shares of the biopharmaceutical company’s stock, valued at approximately $2,447,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Elevation Point Wealth Partners LLC purchased a new stake in shares of Alnylam Pharmaceuticals in the second quarter valued at approximately $396,000. Daiichi Life Insurance Co. Ltd. purchased a new position in Alnylam Pharmaceuticals during the second quarter worth approximately $1,768,000. Commerce Bank acquired a new position in Alnylam Pharmaceuticals during the second quarter worth $2,848,000. Northwestern Mutual Wealth Management Co. acquired a new position in Alnylam Pharmaceuticals during the second quarter worth $346,000. Finally, Evolve Private Wealth LLC acquired a new position in Alnylam Pharmaceuticals during the second quarter worth $266,000. 92.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of Alnylam Pharmaceuticals stock in a transaction dated Monday, June 1st. The shares were 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 $473,302.76. This trade represents a 70.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is currently owned by company insiders.

Alnylam Pharmaceuticals Price Performance

ALNY stock opened at $239.00 on Thursday. Alnylam Pharmaceuticals, Inc. has a 52-week low of $197.81 and a 52-week high of $495.55. The company has a quick ratio of 2.99, a current ratio of 3.05 and a debt-to-equity ratio of 0.75. The stock has a market cap of $31.98 billion, a price-to-earnings ratio of 44.42 and a beta of 0.30. The business has a fifty day moving average of $264.27 and a two-hundred day moving average of $294.77.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share for the quarter, topping 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 company’s revenue was up 66.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.51) EPS. As a group, research analysts anticipate that Alnylam Pharmaceuticals, Inc. will post 6.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Oppenheimer cut their target price on Alnylam Pharmaceuticals from $500.00 to $350.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Morgan Stanley lowered their price target on shares of 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. Needham & Company LLC dropped their price objective on shares of Alnylam Pharmaceuticals from $510.00 to $357.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Wall Street Zen cut shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Finally, BMO Capital Markets assumed coverage on shares of Alnylam Pharmaceuticals in a research note on Wednesday, August 19th. They set an “outperform” rating and a $318.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $386.14.

Alnylam Pharmaceuticals Company Profile

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.