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

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “outperform” rating reissued by stock analysts at Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They presently have a $300.00 price objective on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 12.55% from the stock’s previous close.

A number of other analysts have also weighed in on ALNY. TD Cowen increased their target price on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Scotiabank lifted their price objective on Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. Canaccord Genuity Group upped their target price on Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the company a “buy” rating in a report on Friday, November 1st. HC Wainwright reiterated a “buy” rating and issued a $400.00 price target on shares of Alnylam Pharmaceuticals in a report on Monday, January 13th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $220.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $298.61.

Alnylam Pharmaceuticals Trading Up 0.6 %

NASDAQ ALNY opened at $266.54 on Tuesday. The firm has a market cap of $34.38 billion, a PE ratio of -101.73 and a beta of 0.34. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $304.39. The stock has a 50-day moving average of $245.91 and a 200-day moving average of $259.99. The company has a current ratio of 2.75, a quick ratio of 2.69 and a debt-to-equity ratio of 31.64.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $532.91 million. During the same period in the previous year, the business posted $1.15 earnings per share. The business’s revenue for the quarter was down 33.3% on a year-over-year basis. As a group, sell-side analysts forecast that Alnylam Pharmaceuticals will post -2.18 EPS for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, CMO Pushkal Garg sold 1,682 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total value of $422,148.36. Following the transaction, the chief marketing officer now directly owns 17,457 shares in the company, valued at $4,381,357.86. This trade represents a 8.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Tolga Tanguler sold 1,469 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 13,191 shares in the company, valued at approximately $3,310,677.18. This represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,122 shares of company stock worth $2,540,455 over the last three months. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ALNY. Geode Capital Management LLC raised its holdings in Alnylam Pharmaceuticals by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,147,203 shares of the biopharmaceutical company’s stock worth $589,209,000 after purchasing an additional 66,928 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Alnylam Pharmaceuticals by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 487,348 shares of the biopharmaceutical company’s stock valued at $134,035,000 after buying an additional 16,756 shares in the last quarter. Swiss National Bank grew its stake in shares of Alnylam Pharmaceuticals by 0.3% during the 3rd quarter. Swiss National Bank now owns 375,400 shares of the biopharmaceutical company’s stock valued at $103,246,000 after acquiring an additional 1,000 shares during the period. Eagle Asset Management Inc. increased its holdings in Alnylam Pharmaceuticals by 25.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 309,589 shares of the biopharmaceutical company’s stock worth $85,889,000 after acquiring an additional 63,385 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in Alnylam Pharmaceuticals by 0.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 278,241 shares of the biopharmaceutical company’s stock worth $76,525,000 after acquiring an additional 1,294 shares during the period. Hedge funds and other institutional investors own 92.97% of the company’s stock.

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.