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

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “outperform” rating reaffirmed by Royal Bank of Canada in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $300.00 price objective on the biopharmaceutical company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 11.33% from the stock’s current price.

A number of other equities analysts have also issued reports on the company. Sanford C. Bernstein decreased their price target on Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. HC Wainwright restated a “buy” rating and issued a $400.00 price objective on shares of Alnylam Pharmaceuticals in a report on Monday, January 13th. Barclays lifted their target price on Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Raymond James upped their price target on shares of Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, William Blair reaffirmed an “outperform” rating on shares of Alnylam Pharmaceuticals in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $298.61.

Alnylam Pharmaceuticals Price Performance

Alnylam Pharmaceuticals stock traded down $4.60 during trading hours on Tuesday, hitting $269.47. 110,519 shares of the company traded hands, compared to its average volume of 665,193. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $304.39. The firm has a market cap of $34.76 billion, a P/E ratio of -103.06 and a beta of 0.35. The firm’s 50-day simple moving average is $253.20 and its two-hundred day simple moving average is $262.73. The company has a quick ratio of 2.69, a current ratio of 2.75 and a debt-to-equity ratio of 31.64.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, EVP Tolga Tanguler sold 1,469 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were 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 of the company’s stock, valued at $3,310,677.18. The trade was a 10.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Yvonne Greenstreet sold 5,219 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total transaction of $1,309,864.62. Following the transaction, the chief executive officer now owns 78,880 shares in the company, valued at $19,797,302.40. This represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,964 shares of company stock valued at $20,622,925 in the last quarter. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Jennison Associates LLC bought a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter worth about $61,160,000. Strategic Financial Concepts LLC acquired a new stake in Alnylam Pharmaceuticals in the 4th quarter worth approximately $41,529,000. Los Angeles Capital Management LLC boosted its position in Alnylam Pharmaceuticals by 11,433.4% during the third quarter. Los Angeles Capital Management LLC now owns 137,017 shares of the biopharmaceutical company’s stock worth $37,684,000 after purchasing an additional 135,829 shares during the period. Sanctuary Advisors LLC bought a new stake in Alnylam Pharmaceuticals during the second quarter worth approximately $578,000. Finally, Assenagon Asset Management S.A. grew its holdings in Alnylam Pharmaceuticals by 13.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 19,918 shares of the biopharmaceutical company’s stock valued at $4,687,000 after purchasing an additional 2,285 shares during the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

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.