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

Royal Bank of Canada reissued their outperform rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a report released on Friday, Benzinga reports. Royal Bank of Canada currently has a $300.00 price objective on the biopharmaceutical company’s stock.

ALNY has been the subject of several other research reports. Canaccord Genuity Group increased their target price on Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the company a “buy” rating in a research note on Friday. Needham & Company LLC reissued a “buy” rating and issued a $320.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday. Raymond James boosted their target price on shares of Alnylam Pharmaceuticals from $242.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Chardan Capital reissued a “buy” rating and issued a $300.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $294.50.

Alnylam Pharmaceuticals Stock Down 1.4 %

Shares of ALNY stock opened at $269.95 on Friday. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $304.39. The company has a market cap of $34.66 billion, a PE ratio of -103.03 and a beta of 0.39. The business’s 50 day moving average is $274.61 and its two-hundred day moving average is $227.00.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.36). The company had revenue of $500.90 million for the quarter, compared to analyst estimates of $532.91 million. During the same quarter in the previous year, the firm earned $1.15 EPS. The company’s revenue was down 33.3% compared to the same quarter last year. As a group, equities analysts expect that Alnylam Pharmaceuticals will post -2.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals 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 transaction of $4,200,000.00. Following the transaction, the chief executive officer now directly owns 73,441 shares in the company, valued at approximately $20,563,480. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its stake in shares of Alnylam Pharmaceuticals by 572.0% during the first 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. Maryland State Retirement & Pension System increased its stake in shares of Alnylam Pharmaceuticals by 4.1% in the 1st quarter. Maryland State Retirement & Pension System now owns 9,836 shares of the biopharmaceutical company’s stock valued at $1,441,000 after acquiring an additional 385 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Alnylam Pharmaceuticals by 32.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 5,594 shares of the biopharmaceutical company’s stock valued at $836,000 after acquiring an additional 1,365 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Alnylam Pharmaceuticals by 63.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 62,415 shares of the biopharmaceutical company’s stock worth $9,328,000 after acquiring an additional 24,228 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in Alnylam Pharmaceuticals by 47.4% during the first quarter. Janney Montgomery Scott LLC now owns 2,775 shares of the biopharmaceutical company’s stock valued at $415,000 after purchasing an additional 892 shares during the period. Institutional investors and hedge funds 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.