Alnylam Pharmaceuticals (NASDAQ:ALNY) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a report issued on Thursday, Benzinga reports. They currently have a $300.00 price target on the biopharmaceutical company’s stock.

ALNY has been the topic of a number of other reports. BMO Capital Markets reissued an outperform rating and issued a $234.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Monday, June 24th. Cantor Fitzgerald reiterated a neutral rating and issued a $220.00 price target on shares of Alnylam Pharmaceuticals in a research note on Monday, September 9th. TD Cowen upped their price objective on Alnylam Pharmaceuticals from $260.00 to $282.00 and gave the stock a buy rating in a research report on Tuesday, June 25th. Stifel Nicolaus lifted their target price on Alnylam Pharmaceuticals from $215.00 to $295.00 and gave the company a buy rating in a research report on Thursday, June 27th. Finally, Canaccord Genuity Group boosted their target price on Alnylam Pharmaceuticals from $357.00 to $366.00 and gave the stock a buy rating in a research note on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals presently has an average rating of Moderate Buy and an average price target of $279.14.

Alnylam Pharmaceuticals Price Performance

Alnylam Pharmaceuticals stock opened at $273.88 on Thursday. The stock’s fifty day moving average price is $260.11 and its two-hundred day moving average price is $199.42. The firm has a market cap of $34.64 billion, a PE ratio of -102.19 and a beta of 0.38. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $287.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates 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 period last year, the firm earned ($2.21) EPS. Sell-side analysts expect that Alnylam Pharmaceuticals will post -2.73 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Dennis A. Ausiello sold 20,250 shares of Alnylam Pharmaceuticals stock in a transaction on 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 completion of the transaction, the director now owns 136 shares of the company’s stock, valued at $35,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Yvonne Greenstreet sold 15,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 73,441 shares in the company, valued at approximately $20,563,480. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Dennis A. Ausiello sold 20,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total value of $5,305,500.00. Following the transaction, the director now directly owns 136 shares in the company, valued at $35,632. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,698 shares of company stock valued at $18,497,434. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the company. 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 valued at $25,000 after purchasing an additional 143 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Alnylam Pharmaceuticals during the second quarter valued at about $26,000. Altitude Crest Partners Inc. bought a new stake in shares of Alnylam Pharmaceuticals during the first quarter worth about $30,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Alnylam Pharmaceuticals by 155.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 20,549 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 12,513 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new position in Alnylam Pharmaceuticals in the 4th quarter valued at about $52,000. 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.