Alnylam Pharmaceuticals’ (ALNY) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “outperform” rating reiterated by investment analysts at Royal Bank of Canada in a note issued to investors on Friday, Benzinga reports. They presently have a $300.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 9.53% from the company’s previous close.

ALNY has been the subject of a number of other reports. The Goldman Sachs Group raised shares of Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their target price for the company from $198.00 to $370.00 in a report on Friday, August 16th. Barclays upped their price objective on Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the company an “overweight” rating in a research note on Friday. Canaccord Genuity Group lifted their target price on Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the company a “buy” rating in a research note on Friday. HC Wainwright restated a “buy” rating and set a $400.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, October 18th. Finally, TD Cowen lifted their price objective on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Six investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $294.50.

Alnylam Pharmaceuticals Stock Up 2.7 %

Shares of NASDAQ ALNY opened at $273.91 on Friday. The stock has a market cap of $35.16 billion, a PE ratio of -104.55 and a beta of 0.39. Alnylam Pharmaceuticals has a 52-week low of $141.98 and a 52-week high of $304.39. The business has a 50-day moving average price of $274.61 and a 200 day moving average price of $225.87.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.61. The business had revenue of $659.83 million during the quarter, compared to analyst estimates of $447.22 million. During the same period in the previous year, the firm earned ($2.21) earnings per share. The business’s revenue was up 107.0% compared to the same quarter last year. Sell-side analysts anticipate that Alnylam Pharmaceuticals will post -2.59 earnings per share for the current year.

Insider Activity

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

Institutional Trading of Alnylam Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Alnylam Pharmaceuticals by 572.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 143 shares during the last quarter. Maryland State Retirement & Pension System grew its holdings in Alnylam Pharmaceuticals by 4.1% in the 1st quarter. Maryland State Retirement & Pension System now owns 9,836 shares of the biopharmaceutical company’s stock valued at $1,441,000 after buying an additional 385 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Alnylam Pharmaceuticals by 32.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 5,594 shares of the biopharmaceutical company’s stock valued at $836,000 after acquiring an additional 1,365 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Alnylam Pharmaceuticals by 63.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 62,415 shares of the biopharmaceutical company’s stock worth $9,328,000 after acquiring an additional 24,228 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in shares of Alnylam Pharmaceuticals by 47.4% in the first quarter. Janney Montgomery Scott LLC now owns 2,775 shares of the biopharmaceutical company’s stock worth $415,000 after acquiring an additional 892 shares during 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.