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

Royal Bank of Canada reiterated their outperform rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $300.00 price target on the biopharmaceutical company’s stock.

Several other analysts have also issued reports on the company. StockNews.com lowered Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. William Blair restated an “outperform” rating on shares of Alnylam Pharmaceuticals in a research report on Tuesday, November 19th. Piper Sandler reiterated an “overweight” rating and set a $296.00 price target on shares of Alnylam Pharmaceuticals in a research report on Monday, November 18th. Scotiabank boosted their price objective on shares of Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the company a “sector outperform” rating in a research report on Friday, November 1st. Finally, Sanford C. Bernstein reduced their target price on Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $298.61.

Alnylam Pharmaceuticals Price Performance

Shares of Alnylam Pharmaceuticals stock opened at $275.54 on Tuesday. The company has a quick ratio of 2.69, a current ratio of 2.75 and a debt-to-equity ratio of 31.64. The stock has a market capitalization of $35.54 billion, a price-to-earnings ratio of -105.17 and a beta of 0.34. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $304.39. The company has a 50-day simple moving average of $246.27 and a two-hundred day simple moving average of $260.10.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.36). The firm had revenue of $500.90 million for the quarter, compared to the consensus estimate of $532.91 million. The company’s quarterly revenue was down 33.3% compared to the same quarter last year. During the same period last year, the firm posted $1.15 EPS. Analysts forecast that Alnylam Pharmaceuticals will post -2.18 EPS for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, EVP Tolga Tanguler sold 1,469 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total value of $368,689.62. Following the completion of the sale, the executive vice president now directly owns 13,191 shares in the company, valued at approximately $3,310,677.18. The trade was a 10.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Pushkal Garg sold 1,752 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $251.00, for a total value of $439,752.00. Following the transaction, the chief marketing officer now owns 15,705 shares in the company, valued at $3,941,955. The trade was a 10.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,122 shares of company stock valued at $2,540,455. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Souders Financial Advisors increased its stake in Alnylam Pharmaceuticals by 1.0% in the second quarter. Souders Financial Advisors now owns 3,512 shares of the biopharmaceutical company’s stock valued at $853,000 after purchasing an additional 36 shares in the last quarter. Huntington National Bank grew its stake in shares of Alnylam Pharmaceuticals by 91.8% in the 3rd quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 45 shares during the period. SYM FINANCIAL Corp increased its position in Alnylam Pharmaceuticals by 6.2% in the 3rd quarter. SYM FINANCIAL Corp now owns 947 shares of the biopharmaceutical company’s stock valued at $260,000 after buying an additional 55 shares in the last quarter. Lindbrook Capital LLC raised its stake in Alnylam Pharmaceuticals by 11.1% during the 3rd quarter. Lindbrook Capital LLC now owns 570 shares of the biopharmaceutical company’s stock worth $157,000 after buying an additional 57 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Alnylam Pharmaceuticals by 0.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,512 shares of the biopharmaceutical company’s stock worth $1,532,000 after acquiring an additional 58 shares in the last quarter. Institutional investors and hedge funds 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.