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 note issued on Thursday, Benzinga reports. They currently have a $300.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price points to a potential upside of 9.54% from the stock’s current price.

Several other brokerages also recently commented on ALNY. Evercore ISI raised their price objective on shares of Alnylam Pharmaceuticals from $210.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 25th. Canaccord Genuity Group raised their price objective on Alnylam Pharmaceuticals from $357.00 to $366.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Bank of America raised their price objective on Alnylam Pharmaceuticals from $295.00 to $307.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Morgan Stanley lifted their target price on Alnylam Pharmaceuticals from $250.00 to $255.00 and gave the stock an “equal weight” rating in a research note on Friday, July 12th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $220.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Monday, September 9th. Seven equities research analysts have rated the stock with a hold rating and eighteen have given 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 $279.14.

Alnylam Pharmaceuticals Trading Down 0.9 %

ALNY stock opened at $273.88 on Thursday. The stock has a market capitalization of $34.64 billion, a P/E ratio of -102.19 and a beta of 0.38. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $287.55. The firm has a 50-day moving average price of $259.85 and a 200-day moving average price of $197.87.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.61. The company had revenue of $659.83 million during the quarter, compared to the consensus estimate of $447.22 million. The firm’s revenue was up 107.0% compared to the same quarter last year. During the same period last year, the company posted ($2.21) EPS. As a group, equities analysts predict that Alnylam Pharmaceuticals will post -2.73 EPS for the current fiscal year.

Insider Transactions at Alnylam Pharmaceuticals

In related news, CEO Yvonne Greenstreet sold 8,301 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total value of $1,917,447.99. Following the completion of the sale, the chief executive officer now owns 80,534 shares in the company, valued at approximately $18,602,548.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Yvonne Greenstreet sold 8,301 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total value of $1,917,447.99. Following the completion of the sale, the chief executive officer now owns 80,534 shares in the company, valued at approximately $18,602,548.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David E. I. Pyott sold 32,450 shares of the business’s 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 completion of the sale, the director now owns 136 shares of the company’s stock, valued at approximately $30,013.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,148 shares of company stock valued at $25,658,824. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of Alnylam Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of ALNY. Capital International Investors lifted its position in Alnylam Pharmaceuticals by 15.8% in the fourth quarter. Capital International Investors now owns 3,586,657 shares of the biopharmaceutical company’s stock valued at $686,641,000 after purchasing an additional 488,814 shares during the last quarter. Vanguard Group Inc. lifted its position 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 purchasing an additional 287,064 shares during the last quarter. Capital Research Global Investors lifted its position in Alnylam Pharmaceuticals by 7.3% in the first quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock valued at $470,018,000 after purchasing an additional 214,908 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Alnylam Pharmaceuticals by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock valued at $550,837,000 after purchasing an additional 201,784 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Alnylam Pharmaceuticals by 92.5% in the second quarter. AQR Capital Management LLC now owns 271,619 shares of the biopharmaceutical company’s stock valued at $65,862,000 after purchasing an additional 130,482 shares during the last quarter. Institutional investors own 92.97% of the company’s stock.

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.