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

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective lifted by Royal Bank of Canada from $310.00 to $330.00 in a report published on Friday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the biopharmaceutical company’s stock.

Other equities research analysts have also issued research reports about the stock. Chardan Capital reiterated a “buy” rating and set a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday. Scotiabank increased their price objective on shares of Alnylam Pharmaceuticals from $300.00 to $338.00 and gave the stock a “sector outperform” rating in a research note on Friday. JPMorgan Chase & Co. raised 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. William Blair restated an “outperform” rating on shares of Alnylam Pharmaceuticals in a research note on Friday. Finally, Wells Fargo & Company raised their price target on shares of Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the company an “equal weight” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $310.22.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY stock opened at $283.34 on Friday. The company has a debt-to-equity ratio of 15.27, a quick ratio of 2.71 and a current ratio of 2.78. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $304.39. The company’s 50-day simple moving average is $257.16 and its 200-day simple moving average is $259.65. The stock has a market capitalization of $36.68 billion, a price-to-earnings ratio of -130.57 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.03). Equities analysts anticipate that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kevin Joseph Fitzgerald sold 663 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 14,321 shares of the company’s stock, valued at approximately $3,654,862.41. This trade represents a 4.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Phillip A. Sharp sold 11,250 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $275.00, for a total transaction of $3,093,750.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,234 shares of company stock worth $19,958,097. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its stake in Alnylam Pharmaceuticals by 2.6% in the 4th quarter. California State Teachers Retirement System now owns 196,362 shares of the biopharmaceutical company’s stock worth $46,206,000 after purchasing an additional 5,037 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Alnylam Pharmaceuticals by 94.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,566 shares of the biopharmaceutical company’s stock worth $2,957,000 after purchasing an additional 6,112 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new position in Alnylam Pharmaceuticals in the 4th quarter worth approximately $10,011,000. Bannerman Wealth Management Group LLC purchased a new stake in Alnylam Pharmaceuticals in the 4th quarter worth approximately $327,000. Finally, Siemens Fonds Invest GmbH lifted its position in Alnylam Pharmaceuticals by 137.7% in the 4th quarter. Siemens Fonds Invest GmbH now owns 3,245 shares of the biopharmaceutical company’s stock worth $764,000 after buying an additional 1,880 shares in the last quarter. 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.