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

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “outperform” rating restated by equities research analysts at Royal Bank of Canada in a report released on Thursday, Benzinga reports. They presently have a $300.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 9.54% from the company’s previous close.

A number of other equities research analysts have also recently commented on ALNY. Raymond James increased their target price on Alnylam Pharmaceuticals from $242.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Barclays increased their target price on Alnylam Pharmaceuticals from $291.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Bank of America increased their target price on Alnylam Pharmaceuticals from $295.00 to $307.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Citigroup increased their price objective on Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Leerink Partners increased their price objective on Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the company a “market perform” rating in a research report on Tuesday, June 25th. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $279.14.

Alnylam Pharmaceuticals Stock Down 0.9 %

Shares of ALNY stock opened at $273.88 on Thursday. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $287.55. The stock has a market cap of $34.64 billion, a price-to-earnings ratio of -102.19 and a beta of 0.38. The business’s fifty day moving average is $259.85 and its 200 day moving average is $197.87.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.61. The company had revenue of $659.83 million during the quarter, compared to analysts’ expectations of $447.22 million. During the same period in the prior year, the company posted ($2.21) earnings per share. The company’s revenue was up 107.0% on a year-over-year basis. Equities research analysts expect that Alnylam Pharmaceuticals will post -2.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, CEO Yvonne Greenstreet sold 15,000 shares of Alnylam Pharmaceuticals stock in a transaction dated Tuesday, August 20th. The stock was 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 approximately $20,563,480. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total value of $276,726.02. Following the transaction, the executive vice president now directly owns 14,181 shares of the company’s stock, valued at approximately $3,275,669.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Yvonne Greenstreet sold 15,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 73,441 shares in the company, valued at $20,563,480. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,148 shares of company stock valued at $25,658,824. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Souders Financial Advisors lifted its holdings in Alnylam Pharmaceuticals by 1.0% in the 2nd quarter. Souders Financial Advisors now owns 3,512 shares of the biopharmaceutical company’s stock worth $853,000 after purchasing an additional 36 shares in the last quarter. V Square Quantitative Management LLC increased its stake in Alnylam Pharmaceuticals by 21.9% in the 2nd quarter. V Square Quantitative Management LLC now owns 334 shares of the biopharmaceutical company’s stock worth $81,000 after acquiring an additional 60 shares during the last quarter. Commerce Bank increased its stake in Alnylam Pharmaceuticals by 1.7% in the 4th quarter. Commerce Bank now owns 4,683 shares of the biopharmaceutical company’s stock worth $896,000 after acquiring an additional 77 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Alnylam Pharmaceuticals by 7.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,368 shares of the biopharmaceutical company’s stock worth $262,000 after acquiring an additional 89 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Alnylam Pharmaceuticals by 54.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 259 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 91 shares during the last quarter. 92.97% of the stock is owned by hedge funds and other institutional investors.

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.