Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Rating Reaffirmed by Royal Bank of Canada

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

A number of other analysts also recently issued reports on the stock. Canaccord Genuity Group raised their price objective on shares of Alnylam Pharmaceuticals from $357.00 to $366.00 and gave the stock a buy rating in a report on Friday, August 2nd. Wells Fargo & Company lifted their price target on shares of Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the stock an equal weight rating in a report on Friday, August 2nd. Bank of America increased their price objective on Alnylam Pharmaceuticals from $295.00 to $307.00 and gave the company a buy rating in a report on Wednesday, September 4th. Raymond James boosted their target price on Alnylam Pharmaceuticals from $242.00 to $275.00 and gave the company an outperform rating in a research note on Friday, August 2nd. Finally, Morgan Stanley increased their price target on Alnylam Pharmaceuticals from $250.00 to $255.00 and gave the stock an equal weight rating in a research note on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $279.14.

Alnylam Pharmaceuticals Stock Performance

NASDAQ:ALNY opened at $273.88 on Thursday. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $287.55. The firm has a 50-day moving average price of $260.11 and a two-hundred day moving average price of $199.42. The firm has a market cap of $34.64 billion, a price-to-earnings ratio of -102.19 and a beta of 0.38.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, topping 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 period in the prior year, the firm posted ($2.21) EPS. The firm’s revenue for the quarter was up 107.0% on a year-over-year basis. As a group, sell-side analysts forecast that Alnylam Pharmaceuticals will post -2.73 earnings per share for the current year.

Insider Activity

In related news, Director Dennis A. Ausiello sold 20,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Yvonne Greenstreet sold 8,301 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total transaction of $1,917,447.99. Following the transaction, the chief executive officer now directly owns 80,534 shares of the company’s stock, valued at approximately $18,602,548.66. The sale was disclosed in a legal filing 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 completion of the sale, the director now directly owns 136 shares of the company’s stock, valued at approximately $35,632. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,698 shares of company stock worth $18,497,434. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Alnylam Pharmaceuticals by 0.4% in the first quarter. Vanguard Group Inc. now owns 11,994,261 shares of the biopharmaceutical company’s stock worth $1,792,542,000 after purchasing an additional 50,366 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Alnylam Pharmaceuticals by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock worth $550,837,000 after buying an additional 201,784 shares during the period. Capital International Investors lifted its stake in shares of Alnylam Pharmaceuticals by 1.8% in the 1st quarter. Capital International Investors now owns 3,651,217 shares of the biopharmaceutical company’s stock valued at $545,674,000 after acquiring an additional 64,560 shares during the last quarter. Capital Research Global Investors boosted its holdings in Alnylam Pharmaceuticals by 7.3% during the 1st quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock valued at $470,018,000 after acquiring an additional 214,908 shares during the period. Finally, Avoro Capital Advisors LLC grew its position in Alnylam Pharmaceuticals by 9.9% during the 4th quarter. Avoro Capital Advisors LLC now owns 1,111,111 shares of the biopharmaceutical company’s stock worth $212,678,000 after acquiring an additional 100,000 shares during the last quarter. Hedge funds and other institutional investors own 92.97% of the company’s stock.

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.