Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Raised to $330.00 at Royal Bank of Canada

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target hoisted by research analysts at Royal Bank of Canada from $310.00 to $330.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 16.47% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of Alnylam Pharmaceuticals from $272.00 to $280.00 and gave the company a “neutral” rating in a research note on Tuesday, March 11th. Morgan Stanley lifted their target price on shares of Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Wells Fargo & Company lifted their target price on shares of Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the stock an “equal weight” rating in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 target price on shares of Alnylam Pharmaceuticals in a research note on Friday. Finally, William Blair reaffirmed an “outperform” rating on shares of Alnylam Pharmaceuticals in a research note on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $310.22.

Alnylam Pharmaceuticals Stock Performance

ALNY opened at $283.34 on Friday. The firm has a market capitalization of $36.68 billion, a PE ratio of -130.57 and a beta of 0.39. Alnylam Pharmaceuticals has a 12-month low of $141.98 and a 12-month high of $304.39. The firm has a 50 day moving average of $257.16 and a two-hundred day moving average of $259.69. The company has a current ratio of 2.78, a quick ratio of 2.71 and a debt-to-equity ratio of 15.27.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). On average, analysts anticipate that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, EVP Kevin Joseph Fitzgerald sold 663 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $255.21, for a total value of $169,204.23. Following the sale, the executive vice president now directly owns 14,321 shares in the company, valued at approximately $3,654,862.41. This trade represents a 4.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeffrey V. Poulton sold 967 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $255.17, for a total value of $246,749.39. Following the completion of the transaction, the chief financial officer now directly owns 32,786 shares of the company’s stock, valued at $8,366,003.62. This trade represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,234 shares of company stock valued at $19,958,097. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC purchased a new position in shares of Alnylam Pharmaceuticals during the fourth quarter worth about $61,160,000. Strategic Financial Concepts LLC acquired a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter valued at about $41,529,000. Truist Financial Corp grew its stake in Alnylam Pharmaceuticals by 136.6% during the 4th quarter. Truist Financial Corp now owns 4,398 shares of the biopharmaceutical company’s stock worth $1,035,000 after buying an additional 2,539 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Alnylam Pharmaceuticals by 3.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 286,703 shares of the biopharmaceutical company’s stock worth $67,464,000 after buying an additional 8,462 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Alnylam Pharmaceuticals by 13.0% in 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 acquiring an additional 2,285 shares during the period. 92.97% of the stock is currently owned by institutional investors and hedge funds.

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.