Royal Bank of Canada Increases Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $250.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price lifted by stock analysts at Royal Bank of Canada from $235.00 to $250.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 1.97% from the stock’s previous close.

ALNY has been the topic of several other research reports. HC Wainwright reiterated a “buy” rating and set a $400.00 price target on shares of Alnylam Pharmaceuticals in a research note on Monday. Wells Fargo & Company upped their target price on Alnylam Pharmaceuticals from $161.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Barclays upped their target price on Alnylam Pharmaceuticals from $236.00 to $291.00 and gave the stock an “overweight” rating in a research note on Tuesday. Morgan Stanley upped their target price on Alnylam Pharmaceuticals from $164.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Chardan Capital restated a “buy” rating and issued a $225.00 target price on shares of Alnylam Pharmaceuticals in a research note on Friday, May 3rd. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $242.52.

Alnylam Pharmaceuticals Stock Performance

Alnylam Pharmaceuticals stock opened at $245.17 on Tuesday. The business’s 50-day simple moving average is $155.86 and its two-hundred day simple moving average is $163.65. The company has a market cap of $31.01 billion, a PE ratio of -91.48 and a beta of 0.30. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $249.33.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.23. The firm had revenue of $494.33 million for the quarter, compared to analysts’ expectations of $428.01 million. The firm’s revenue for the quarter was up 54.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.40) EPS. As a group, analysts predict that Alnylam Pharmaceuticals will post -3.75 EPS for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, Director Amy W. Schulman sold 21,700 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $148.60, for a total value of $3,224,620.00. Following the completion of the sale, the director now directly owns 8,436 shares in the company, valued at $1,253,589.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Amy W. Schulman sold 21,700 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $148.60, for a total value of $3,224,620.00. Following the completion of the sale, the director now directly owns 8,436 shares in the company, valued at $1,253,589.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $230.99, for a total value of $276,726.02. Following the completion of the sale, the executive vice president now owns 14,181 shares of the company’s stock, valued at $3,275,669.19. The disclosure for this sale can be found here. Insiders sold 67,357 shares of company stock valued at $13,436,711 over the last quarter. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of large investors have recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. purchased a new position in Alnylam Pharmaceuticals in the third quarter worth approximately $227,000. Envestnet Asset Management Inc. grew its position in Alnylam Pharmaceuticals by 30.4% in the third quarter. Envestnet Asset Management Inc. now owns 24,570 shares of the biopharmaceutical company’s stock worth $4,351,000 after acquiring an additional 5,727 shares during the period. Hsbc Holdings PLC grew its position in Alnylam Pharmaceuticals by 14.7% in the third quarter. Hsbc Holdings PLC now owns 35,185 shares of the biopharmaceutical company’s stock worth $6,230,000 after acquiring an additional 4,508 shares during the period. Acadian Asset Management LLC grew its position in Alnylam Pharmaceuticals by 52.4% in the third quarter. Acadian Asset Management LLC now owns 904 shares of the biopharmaceutical company’s stock worth $160,000 after acquiring an additional 311 shares during the period. Finally, Northern Trust Corp grew its position in Alnylam Pharmaceuticals by 3.3% in the third quarter. Northern Trust Corp now owns 797,700 shares of the biopharmaceutical company’s stock worth $141,273,000 after acquiring an additional 25,230 shares during the period. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

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.