Royal Bank of Canada Reiterates Outperform Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a research report issued 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 suggest a potential upside of 5.51% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the stock. Leerink Partners increased their price objective on shares of Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the company a “market perform” rating in a research note on Tuesday, June 25th. Barclays lifted their price target on Alnylam Pharmaceuticals from $291.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. UBS Group upped their price objective on Alnylam Pharmaceuticals from $253.00 to $288.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $220.00 target price on shares of Alnylam Pharmaceuticals in a research note on Monday, September 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $320.00 price target on shares of Alnylam Pharmaceuticals in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $285.62.

Alnylam Pharmaceuticals Stock Up 2.0 %

Shares of NASDAQ ALNY opened at $284.32 on Thursday. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $287.55. The firm has a market cap of $36.50 billion, a PE ratio of -473.86 and a beta of 0.39. The business has a fifty day simple moving average of $269.10 and a two-hundred day simple moving average of $211.70.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data 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 business had revenue of $659.83 million during the quarter, compared to analysts’ expectations of $447.22 million. During the same period last year, the company earned ($2.21) earnings per share. The firm’s revenue was up 107.0% compared to the same quarter last year. On average, research analysts expect that Alnylam Pharmaceuticals will post -2.73 earnings per share for the current year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Alnylam Pharmaceuticals news, Director Dennis A. Ausiello sold 20,250 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 136 shares of the company’s stock, valued at approximately $35,632. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Yvonne Greenstreet sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total value of $4,200,000.00. Following the completion of the sale, the chief executive officer now owns 73,441 shares in the company, valued at $20,563,480. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,398 shares of company stock valued at $13,595,460 over the last quarter. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Oracle Alpha Inc. purchased a new position in shares of Alnylam Pharmaceuticals during the 4th quarter valued at approximately $404,000. V Square Quantitative Management LLC purchased a new position in Alnylam Pharmaceuticals in the fourth quarter valued at $52,000. Vanguard Group Inc. increased its holdings in Alnylam Pharmaceuticals by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock valued at $2,286,181,000 after buying an additional 287,064 shares in the last quarter. SteelPeak Wealth LLC raised its position in shares of Alnylam Pharmaceuticals by 147.7% in the first quarter. SteelPeak Wealth LLC now owns 6,860 shares of the biopharmaceutical company’s stock worth $1,025,000 after acquiring an additional 4,090 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Alnylam Pharmaceuticals by 572.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 143 shares in the last quarter. 92.97% of the stock is currently 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.