Alnylam Pharmaceuticals (NASDAQ:ALNY) Receives “Outperform” Rating from Royal Bank of Canada

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “outperform” rating reissued by stock analysts at Royal Bank of Canada in a research note issued to investors on Thursday, Benzinga reports. They currently have a $300.00 price objective on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 9.83% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Raymond James raised their price objective on shares of Alnylam Pharmaceuticals from $242.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. TD Cowen raised their price target on Alnylam Pharmaceuticals from $260.00 to $282.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Wells Fargo & Company upped their price objective on Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Leerink Partners raised their target price on Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the stock a “market perform” rating in a research report on Tuesday, June 25th. Finally, Needham & Company LLC upped their price target on Alnylam Pharmaceuticals from $275.00 to $320.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $279.14.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ ALNY opened at $273.15 on Thursday. The company has a market cap of $34.55 billion, a price-to-earnings ratio of -101.92 and a beta of 0.38. The stock’s 50-day moving average is $259.54 and its two-hundred day moving average is $197.32. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $287.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released 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 analysts’ expectations of $447.22 million. The firm’s quarterly revenue was up 107.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($2.21) earnings per share. Equities research analysts anticipate that Alnylam Pharmaceuticals will post -2.73 earnings per share for the current fiscal year.

Insider Transactions at Alnylam Pharmaceuticals

In related news, Director David E. I. Pyott sold 32,450 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $220.69, for a total transaction of $7,161,390.50. Following the transaction, the director now owns 136 shares of the company’s stock, valued at $30,013.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 32,450 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $220.69, for a total value of $7,161,390.50. Following the transaction, the director now directly owns 136 shares in the company, valued at approximately $30,013.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the business’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 transaction, the executive vice president now directly owns 14,181 shares in the company, valued at approximately $3,275,669.19. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,148 shares of company stock worth $25,658,824. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Souders Financial Advisors increased its stake in shares of Alnylam Pharmaceuticals by 1.0% during the second quarter. Souders Financial Advisors now owns 3,512 shares of the biopharmaceutical company’s stock worth $853,000 after acquiring an additional 36 shares during the period. V Square Quantitative Management LLC increased its position in Alnylam Pharmaceuticals by 21.9% during the 2nd quarter. V Square Quantitative Management LLC now owns 334 shares of the biopharmaceutical company’s stock worth $81,000 after purchasing an additional 60 shares during the period. Commerce Bank raised its stake in shares of Alnylam Pharmaceuticals by 1.7% during the 4th quarter. Commerce Bank now owns 4,683 shares of the biopharmaceutical company’s stock worth $896,000 after buying an additional 77 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Alnylam Pharmaceuticals by 7.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,368 shares of the biopharmaceutical company’s stock valued at $262,000 after buying an additional 89 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Alnylam Pharmaceuticals by 54.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 259 shares of the biopharmaceutical company’s stock valued at $63,000 after buying an additional 91 shares in the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

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.