Alnylam Pharmaceuticals’ (ALNY) Outperform Rating Reiterated at Royal Bank of Canada

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

Several other equities research analysts have also commented on the company. Barclays boosted their price objective on Alnylam Pharmaceuticals from $291.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Raymond James boosted their price target on Alnylam Pharmaceuticals from $242.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. BMO Capital Markets restated an “outperform” rating and issued a $234.00 price objective on shares of Alnylam Pharmaceuticals in a report on Monday, June 24th. Evercore ISI lifted their target price on shares of Alnylam Pharmaceuticals from $210.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 25th. Finally, Stifel Nicolaus increased their target price on shares of Alnylam Pharmaceuticals from $215.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $279.14.

Alnylam Pharmaceuticals Trading Down 0.5 %

Shares of ALNY opened at $273.15 on Thursday. The firm has a market cap of $34.55 billion, a PE ratio of -101.92 and a beta of 0.38. The firm has a fifty day simple moving average of $259.54 and a two-hundred day simple moving average of $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 announced its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.61. The company had revenue of $659.83 million during the quarter, compared to analyst estimates of $447.22 million. The firm’s revenue for the quarter was up 107.0% compared to the same quarter last year. During the same quarter last year, the business earned ($2.21) EPS. As a group, research analysts forecast that Alnylam Pharmaceuticals will post -2.73 EPS for the current fiscal year.

Insider Activity

In other news, Director David E. I. Pyott sold 32,450 shares of the stock in a transaction on 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 completion of the transaction, the director now directly owns 136 shares in the company, valued at approximately $30,013.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CMO Pushkal Garg sold 2,103 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 $485,771.97. Following the sale, the chief marketing officer now directly owns 15,609 shares of the company’s stock, valued at approximately $3,605,522.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David E. I. Pyott sold 32,450 shares of the company’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 transaction of $7,161,390.50. Following the completion of the transaction, the director now owns 136 shares in the company, valued at $30,013.84. The disclosure for this sale can be found here. Insiders have sold a total of 103,148 shares of company stock valued at $25,658,824 in the last quarter. Insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital International Investors grew its stake in shares of 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 buying an additional 488,814 shares in the last quarter. Vanguard Group Inc. grew its position in Alnylam Pharmaceuticals by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock valued at $2,286,181,000 after acquiring an additional 287,064 shares in the last quarter. Capital Research Global Investors increased its stake in Alnylam Pharmaceuticals by 7.3% during the first quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock worth $470,018,000 after purchasing an additional 214,908 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Alnylam Pharmaceuticals by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock worth $550,837,000 after purchasing an additional 201,784 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of 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 period. Hedge funds and other 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.