Alnylam Pharmaceuticals (NASDAQ:ALNY) Given “Outperform” Rating at Royal Bank of Canada

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research note issued to investors on Thursday, Benzinga reports. They presently have a $300.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 9.83% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. 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. HC Wainwright restated a “buy” rating and set a $400.00 price target on shares of Alnylam Pharmaceuticals in a research report on Friday, August 30th. JPMorgan Chase & Co. boosted their price objective on Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. TD Cowen increased their price objective on Alnylam Pharmaceuticals from $260.00 to $282.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Finally, Leerink Partners lifted their target price on shares of Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the stock a “market perform” rating in a research note on Tuesday, June 25th. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $279.14.

Alnylam Pharmaceuticals Stock Performance

ALNY traded up $2.24 during midday trading on Thursday, hitting $273.14. The stock had a trading volume of 53,599 shares, compared to its average volume of 864,159. Alnylam Pharmaceuticals has a 1 year low of $141.98 and a 1 year high of $287.55. The business has a fifty day moving average of $268.65 and a 200 day moving average of $210.30. The company has a market cap of $34.55 billion, a P/E ratio of -101.94 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced 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 the consensus estimate of $447.22 million. During the same quarter in the previous year, the firm posted ($2.21) earnings per share. The company’s revenue was up 107.0% compared to the same quarter last year. On average, equities research analysts anticipate that Alnylam Pharmaceuticals will post -2.73 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 in the company, valued at $20,563,480. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Yvonne Greenstreet sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total value of $4,200,000.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dennis A. Ausiello sold 20,250 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $262.00, for a total transaction of $5,305,500.00. Following the sale, the director now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,398 shares of company stock worth $13,595,460. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the company. Oracle Alpha Inc. purchased a new position in Alnylam Pharmaceuticals in the 4th quarter worth about $404,000. V Square Quantitative Management LLC bought a new position in Alnylam Pharmaceuticals during the fourth quarter valued at approximately $52,000. Vanguard Group Inc. lifted its position in Alnylam Pharmaceuticals by 2.5% during 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 period. SteelPeak Wealth LLC boosted its holdings in 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 purchasing an additional 4,090 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Alnylam Pharmaceuticals by 572.0% in the 1st 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 period. 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.