Alnylam Pharmaceuticals’ (ALNY) “Outperform” Rating Reaffirmed at Royal Bank of Canada

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

Several other research firms have also recently commented on ALNY. Raymond James upped their price target on Alnylam Pharmaceuticals from $242.00 to $275.00 and gave the stock an outperform rating in a research note on Friday, August 2nd. Leerink Partners raised their target price on shares of Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the stock a market perform rating in a research note on Tuesday, June 25th. Stifel Nicolaus boosted their target price on Alnylam Pharmaceuticals from $215.00 to $295.00 and gave the stock a buy rating in a research report on Thursday, June 27th. BMO Capital Markets reissued an outperform rating and set a $234.00 target price on shares of Alnylam Pharmaceuticals in a research note on Monday, June 24th. Finally, UBS Group upped their price objective on Alnylam Pharmaceuticals from $253.00 to $288.00 and gave the stock a buy rating in a report on Friday, June 28th. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $279.14.

Alnylam Pharmaceuticals Stock Up 1.2 %

NASDAQ:ALNY opened at $276.33 on Thursday. The company has a market capitalization of $34.95 billion, a PE ratio of -103.11 and a beta of 0.38. Alnylam Pharmaceuticals has a 52-week low of $141.98 and a 52-week high of $287.55. The stock’s 50 day moving average price is $259.54 and its 200 day moving average price is $197.32.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.61. The business had revenue of $659.83 million during the quarter, compared to analysts’ expectations of $447.22 million. During the same quarter last year, the company earned ($2.21) EPS. The firm’s revenue for the quarter was up 107.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alnylam Pharmaceuticals will post -2.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,000 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on 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 of the company’s stock, valued at $20,563,480. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Yvonne Greenstreet sold 15,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total value of $4,200,000.00. Following the transaction, the chief executive officer now owns 73,441 shares of the company’s stock, valued at approximately $20,563,480. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dennis A. Ausiello sold 20,250 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total transaction of $5,305,500.00. Following the sale, the director now directly owns 136 shares of the company’s stock, valued at $35,632. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,148 shares of company stock valued at $25,658,824. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its position in Alnylam Pharmaceuticals by 572.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 143 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Alnylam Pharmaceuticals in the second quarter valued at $26,000. Altitude Crest Partners Inc. acquired a new stake in Alnylam Pharmaceuticals during the 1st quarter valued at $30,000. Robeco Institutional Asset Management B.V. increased its stake in Alnylam Pharmaceuticals by 155.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 20,549 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 12,513 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in Alnylam Pharmaceuticals in the 4th quarter worth $52,000. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

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.